Simon Quick Advisors LLC Takes Position in Devon Energy Corporation $DVN

Simon Quick Advisors LLC acquired a new stake in shares of Devon Energy Corporation (NYSE:DVN) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 8,634 shares of the energy company’s stock, valued at approximately $275,000.

A number of other institutional investors have also recently made changes to their positions in the company. SVB Wealth LLC grew its position 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 valued at $304,000 after purchasing an additional 321 shares in the last quarter. Yousif Capital Management LLC grew its position 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 valued at $2,776,000 after purchasing an additional 321 shares in the last quarter. MAS Advisors LLC grew its position 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 valued at $253,000 after purchasing an additional 327 shares in the last quarter. Whittier Trust Co. grew its position 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 valued at $72,000 after purchasing an additional 377 shares in the last quarter. Finally, Callan Family Office LLC grew its position 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 valued at $396,000 after purchasing an additional 377 shares in the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Insider Activity

In other Devon Energy news, Director Kelt Kindick sold 7,685 shares of the business’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 transaction of $257,140.10. Following the completion of the transaction, the director owned 31,801 shares in the company, valued at $1,064,061.46. The trade was a 19.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.71% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Bernstein Bank dropped their price target on Devon Energy from $45.00 to $43.00 and set an “outperform” rating for the company in a research report on Monday, July 7th. Raymond James Financial reiterated an “outperform” rating and issued a $45.00 price target (up previously from $40.00) on shares of Devon Energy in a research report on Tuesday, July 22nd. Evercore ISI lifted their price target on Devon Energy from $34.00 to $37.00 and gave the stock an “in-line” rating in a research report on Monday, October 6th. William Blair assumed coverage on Devon Energy in a research report on Monday, August 25th. They issued an “outperform” rating for the company. Finally, Scotiabank reiterated an “outperform” rating on shares of Devon Energy in a research report on Thursday, October 9th. One 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 MarketBeat, Devon Energy presently has an average rating of “Moderate Buy” and an average price target of $43.14.

Devon Energy Stock Up 1.0%

Shares of NYSE:DVN opened at $32.81 on Tuesday. Devon Energy Corporation has a 1 year low of $25.89 and a 1 year high of $40.54. The business has a 50 day simple moving average of $34.21 and a two-hundred day simple moving average of $33.21. The firm has a market capitalization of $20.82 billion, a PE ratio of 7.36, a price-to-earnings-growth ratio of 2.49 and a beta of 1.03. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.22 and a quick ratio of 1.13.

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. Devon Energy had a return on equity of 18.59% and a net margin of 16.57%.The business had revenue of $4.28 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the previous year, the business earned $1.41 earnings per share. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, equities analysts predict that Devon Energy Corporation will post 4.85 EPS for the current year.

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.