Devon Energy (NYSE:DVN) SVP Andrea Alexander Sells 18,000 Shares

Devon Energy Corporation (NYSE:DVN) SVP Andrea Alexander sold 18,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $46.74, for a total value of $841,320.00. Following the completion of the sale, the senior vice president owned 138,529 shares in the company, valued at approximately $6,474,845.46. This represents a 11.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Devon Energy Price Performance

Shares of DVN traded up $0.65 during mid-day trading on Friday, reaching $45.26. The company had a trading volume of 14,809,491 shares, compared to its average volume of 14,089,480. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.01 and a quick ratio of 0.94. The company has a market capitalization of $28.13 billion, a P/E ratio of 12.61 and a beta of 0.37. Devon Energy Corporation has a twelve month low of $31.45 and a twelve month high of $52.71. The company’s 50-day moving average is $47.11 and its 200-day moving average is $43.08.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Tuesday, May 5th. The energy company reported $1.04 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.02). Devon Energy had a net margin of 13.71% and a return on equity of 15.22%. The company had revenue of $3.81 billion during the quarter, compared to analyst estimates of $4.34 billion. During the same period in the prior year, the firm earned $0.82 EPS. Devon Energy’s quarterly revenue was down 14.5% compared to the same quarter last year. On average, equities analysts anticipate that Devon Energy Corporation will post 4.6 EPS for the current year.

Devon Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a $0.32 dividend. The ex-dividend date is Monday, June 15th. This represents a $1.28 annualized dividend and a dividend yield of 2.8%. This is a boost from Devon Energy’s previous quarterly dividend of $0.24. Devon Energy’s dividend payout ratio is presently 26.74%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on DVN shares. BMO Capital Markets reiterated an “outperform” rating on shares of Devon Energy in a research report on Wednesday. Scotiabank boosted their price target on shares of Devon Energy from $41.00 to $46.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. Morgan Stanley upped their price objective on shares of Devon Energy from $59.00 to $66.00 and gave the stock an “overweight” rating in a research note on Thursday, May 21st. UBS Group dropped their price objective on shares of Devon Energy from $60.00 to $58.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Mizuho lifted their target price on shares of Devon Energy from $62.00 to $68.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.67.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in DVN. Tobam grew its holdings in Devon Energy by 16.4% during the 4th quarter. Tobam now owns 1,633 shares of the energy company’s stock worth $60,000 after acquiring an additional 230 shares during the last quarter. TD Private Client Wealth LLC raised its stake in shares of Devon Energy by 3.4% in the fourth quarter. TD Private Client Wealth LLC now owns 7,152 shares of the energy company’s stock worth $262,000 after acquiring an additional 236 shares during the last quarter. Catalyst Financial Partners LLC lifted its position in shares of Devon Energy by 3.9% during the fourth quarter. Catalyst Financial Partners LLC now owns 6,712 shares of the energy company’s stock worth $246,000 after purchasing an additional 254 shares in the last quarter. Cary Street Partners Investment Advisory LLC grew its stake in shares of Devon Energy by 21.0% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 1,480 shares of the energy company’s stock valued at $54,000 after purchasing an additional 257 shares during the last quarter. Finally, Zions Bancorporation National Association UT grew its stake in shares of Devon Energy by 7.9% during the fourth quarter. Zions Bancorporation National Association UT now owns 3,527 shares of the energy company’s stock valued at $129,000 after purchasing an additional 258 shares during the last quarter. 69.72% of the stock is owned by institutional investors.

Devon Energy Company Profile

Devon Energy Corporation (NYSE: DVN) is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.

Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.