Devon Energy Corporation $DVN Shares Acquired by Resonant Capital Advisors LLC

Resonant Capital Advisors LLC lifted its holdings in Devon Energy Corporation (NYSE:DVN) by 7.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 61,287 shares of the energy company’s stock after acquiring an additional 4,088 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Devon Energy were worth $1,950,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SVB Wealth LLC boosted its holdings in Devon Energy by 4.1% in the first quarter. SVB Wealth LLC now owns 8,131 shares of the energy company’s stock valued at $304,000 after purchasing an additional 321 shares during the last quarter. Yousif Capital Management LLC lifted its holdings in shares of Devon Energy by 0.4% in the 2nd quarter. Yousif Capital Management LLC now owns 87,272 shares of the energy company’s stock valued at $2,776,000 after buying an additional 321 shares during the period. MAS Advisors LLC lifted its holdings in shares of Devon Energy by 4.3% in the 2nd quarter. MAS Advisors LLC now owns 7,951 shares of the energy company’s stock valued at $253,000 after buying an additional 327 shares during the period. Whittier Trust Co. boosted its stake in shares of Devon Energy by 24.3% in the first quarter. Whittier Trust Co. now owns 1,927 shares of the energy company’s stock worth $72,000 after buying an additional 377 shares during the last quarter. Finally, Callan Family Office LLC grew its holdings in Devon Energy by 3.7% during the first quarter. Callan Family Office LLC now owns 10,581 shares of the energy company’s stock worth $396,000 after acquiring an additional 377 shares during the period. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Devon Energy

In other news, Director Kelt Kindick sold 7,685 shares of the firm’s stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $33.46, for a total value of $257,140.10. Following the transaction, the director owned 31,801 shares in the company, valued at $1,064,061.46. This trade represents a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.71% of the stock is owned by insiders.

Devon Energy Price Performance

Shares of NYSE DVN opened at $32.97 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.22. The firm has a fifty day moving average of $34.43 and a 200 day moving average of $33.03. The firm has a market cap of $20.93 billion, a PE ratio of 7.39, a PEG ratio of 2.55 and a beta of 1.03. Devon Energy Corporation has a one year low of $25.89 and a one year high of $40.54.

Devon Energy (NYSE:DVN) last announced its earnings results on Tuesday, August 5th. The energy company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.01. The business had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.01 billion. Devon Energy had a net margin of 16.57% and a return on equity of 18.59%. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.41 earnings per share. As a group, research analysts predict that Devon Energy Corporation will post 4.85 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.9%. The ex-dividend date was Monday, September 15th. Devon Energy’s payout ratio is 21.52%.

Analyst Ratings Changes

Several research analysts recently weighed in on DVN shares. William Blair started coverage on Devon Energy in a research report on Monday, August 25th. They set an “outperform” rating for the company. Mizuho dropped their price objective on shares of Devon Energy from $43.00 to $40.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. Bernstein Bank cut their target price on shares of Devon Energy from $45.00 to $43.00 and set an “outperform” rating for the company in a report on Monday, July 7th. Weiss Ratings reissued a “hold (c-)” rating on shares of Devon Energy in a report on Friday. Finally, Royal Bank Of Canada set a $42.00 price target on shares of Devon Energy and gave the company a “sector perform” rating in a research report on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $43.14.

About Devon Energy

Devon Energy Corporation, an independent energy company, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Eagle Ford, Anadarko, Williston, and Powder River Basins. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.