Devon Energy Corporation $DVN Shares Acquired by Sapient Capital LLC

Sapient Capital LLC boosted its position in Devon Energy Corporation (NYSE:DVN) by 109.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 41,489 shares of the energy company’s stock after buying an additional 21,668 shares during the quarter. Sapient Capital LLC’s holdings in Devon Energy were worth $1,714,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Tobam grew its position in shares of Devon Energy by 16.4% in the 4th quarter. Tobam now owns 1,633 shares of the energy company’s stock worth $60,000 after acquiring an additional 230 shares in the last quarter. TD Private Client Wealth LLC raised its position in shares of Devon Energy by 3.4% during the 4th quarter. TD Private Client Wealth LLC now owns 7,152 shares of the energy company’s stock valued at $262,000 after acquiring an additional 236 shares in the last quarter. Catalyst Financial Partners LLC lifted its stake in 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 during the last quarter. Cary Street Partners Investment Advisory LLC lifted its stake in 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 worth $54,000 after purchasing an additional 257 shares during the last quarter. Finally, Zions Bancorporation National Association UT boosted its holdings in Devon Energy by 7.9% in the fourth quarter. Zions Bancorporation National Association UT now owns 3,527 shares of the energy company’s stock worth $129,000 after purchasing an additional 258 shares during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Stock Up 5.5%

DVN stock opened at $45.34 on Tuesday. The firm’s 50-day moving average is $43.44 and its two-hundred day moving average is $44.99. The company has a market capitalization of $28.17 billion, a price-to-earnings ratio of 10.77 and a beta of 0.38. Devon Energy Corporation has a 52 week low of $31.47 and a 52 week high of $52.71. The company has a current ratio of 0.72, a quick ratio of 0.67 and a debt-to-equity ratio of 0.24.

Devon Energy (NYSE:DVN) last released its earnings results on Tuesday, August 4th. The energy company reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.40 by $0.17. Devon Energy had a return on equity of 14.93% and a net margin of 16.67%.The firm had revenue of $7.42 billion for the quarter, compared to analyst estimates of $6.01 billion. During the same period in the previous year, the company earned $0.84 earnings per share. Devon Energy’s revenue was up 73.1% compared to the same quarter last year. On average, analysts forecast that Devon Energy Corporation will post 4.81 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Tuesday, September 15th. Devon Energy’s dividend payout ratio is 30.40%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on DVN. BMO Capital Markets reissued an “outperform” rating on shares of Devon Energy in a report on Wednesday, June 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Devon Energy in a research report on Thursday, June 11th. Argus increased their price objective on shares of Devon Energy from $51.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday, June 10th. Barclays lifted their target price on Devon Energy from $54.00 to $62.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. Finally, Roth Capital reiterated a “buy” rating and set a $57.00 price target on shares of Devon Energy in a research report on Tuesday, April 28th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.72.

Insiders Place Their Bets

In other news, SVP Andrea Alexander sold 18,000 shares of the firm’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $46.74, for a total transaction of $841,320.00. Following the completion of the sale, the senior vice president directly owned 138,529 shares of the company’s stock, valued at $6,474,845.46. This trade represents a 11.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Adam M. Vela sold 24,342 shares of Devon Energy stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $47.21, for a total value of $1,149,185.82. Following the completion of the transaction, the senior vice president owned 130,540 shares in the company, valued at $6,162,793.40. The trade was a 15.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 4.58% of the stock is currently owned by corporate insiders.

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.