Devon Energy Corporation $DVN Shares Sold by Daymark Wealth Partners LLC

Daymark Wealth Partners LLC decreased its holdings in shares of Devon Energy Corporation (NYSE:DVN) by 25.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,114 shares of the energy company’s stock after selling 4,038 shares during the period. Daymark Wealth Partners LLC’s holdings in Devon Energy were worth $385,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. SVB Wealth LLC boosted its stake in shares of Devon Energy by 4.1% during the first quarter. SVB Wealth LLC now owns 8,131 shares of the energy company’s stock worth $304,000 after buying an additional 321 shares during the period. Yousif Capital Management LLC boosted its stake in shares of Devon Energy by 0.4% during the second quarter. Yousif Capital Management LLC now owns 87,272 shares of the energy company’s stock worth $2,776,000 after buying an additional 321 shares during the period. MAS Advisors LLC boosted its stake in shares of Devon Energy by 4.3% during the second quarter. MAS Advisors LLC now owns 7,951 shares of the energy company’s stock worth $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% during 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 period. Finally, Callan Family Office LLC boosted its stake in shares of 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 buying an additional 377 shares during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.

Insider Transactions at Devon Energy

In other Devon Energy news, Director Kelt Kindick sold 7,685 shares of the stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $33.46, for a total value of $257,140.10. Following the completion of the transaction, the director directly owned 31,801 shares of the company’s stock, valued at approximately $1,064,061.46. This trade represents a 19.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.71% of the company’s stock.

Devon Energy Trading Up 1.5%

Shares of Devon Energy stock opened at $32.51 on Friday. Devon Energy Corporation has a 12-month low of $25.89 and a 12-month high of $40.54. The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. The stock has a market cap of $20.63 billion, a PE ratio of 7.29, a price-to-earnings-growth ratio of 2.49 and a beta of 1.03. The company has a 50-day moving average of $34.27 and a two-hundred day moving average of $33.13.

Devon Energy (NYSE:DVN) last issued its earnings results on Tuesday, August 5th. The energy company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.01. Devon Energy had a net margin of 16.57% and a return on equity of 18.59%. The company had revenue of $4.28 billion during the quarter, compared to analysts’ expectations of $4.01 billion. During the same period last year, the company posted $1.41 earnings per share. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, research analysts anticipate that Devon Energy Corporation will post 4.85 EPS for the current fiscal year.

Devon Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were issued a $0.24 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $0.96 dividend on an annualized basis and a yield of 3.0%. Devon Energy’s dividend payout ratio (DPR) is 21.52%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on DVN. Evercore ISI increased their target price on shares of Devon Energy from $34.00 to $37.00 and gave the stock an “in-line” rating in a research note on Monday, October 6th. Morgan Stanley decreased their target price on shares of Devon Energy from $49.00 to $47.00 and set an “overweight” rating for the company in a research note on Tuesday, October 14th. The Goldman Sachs Group cut their price target on shares of Devon Energy from $41.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, October 15th. William Blair began coverage on shares of Devon Energy in a report on Monday, August 25th. They set an “outperform” rating for the company. Finally, Scotiabank reissued an “outperform” rating on shares of Devon Energy in a report on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $43.14.

Devon Energy Profile

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.