Simplicity Wealth LLC Makes New $622,000 Investment in Devon Energy Corporation $DVN

Simplicity Wealth LLC acquired a new position in shares of Devon Energy Corporation (NYSE:DVN) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 15,044 shares of the energy company’s stock, valued at approximately $622,000.

A number of other large investors have also made changes to their positions in DVN. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in Devon Energy in the 4th quarter valued at approximately $25,000. JFS Wealth Advisors LLC grew its holdings in shares of Devon Energy by 56.6% during the 2nd quarter. JFS Wealth Advisors LLC now owns 678 shares of the energy company’s stock worth $28,000 after purchasing an additional 245 shares in the last quarter. MV Capital Management Inc. bought a new stake in shares of Devon Energy during the fourth quarter valued at approximately $29,000. KERR FINANCIAL PLANNING Corp bought a new stake in shares of Devon Energy during the second quarter valued at approximately $29,000. Finally, Garton & Associates Financial Advisors LLC acquired a new position in shares of Devon Energy in the fourth quarter valued at $29,000. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Price Performance

NYSE:DVN opened at $47.62 on Tuesday. Devon Energy Corporation has a 1-year low of $31.47 and a 1-year high of $52.71. The stock has a market capitalization of $52.38 billion, a PE ratio of 11.31 and a beta of 0.38. The firm has a fifty day simple moving average of $43.45 and a 200 day simple moving average of $45.24. 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 announced its quarterly earnings results on Tuesday, August 4th. The energy company reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.17. Devon Energy had a return on equity of 14.93% and a net margin of 16.67%.The business had revenue of $7.42 billion during the quarter, compared to the consensus estimate of $6.01 billion. During the same quarter last year, the firm posted $0.84 EPS. The company’s quarterly revenue was up 73.1% on a year-over-year basis. On average, research analysts expect that Devon Energy Corporation will post 4.99 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Tuesday, September 15th. Devon Energy’s dividend payout ratio is 30.40%.

Wall Street Analysts Forecast Growth

DVN has been the subject of several recent research reports. Evercore raised shares of Devon Energy from an “in-line” rating to an “outperform” rating and set a $54.00 price target for the company in a research report on Wednesday, June 10th. Zacks Research downgraded Devon Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 27th. UBS Group decreased their price target on Devon Energy from $58.00 to $54.00 and set a “buy” rating on the stock in a research report on Wednesday, July 15th. Mizuho raised their price target on Devon Energy from $62.00 to $68.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. Finally, Susquehanna increased their price target on shares of Devon Energy from $57.00 to $63.00 and gave the company a “positive” rating in a research note on Tuesday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $59.15.

Insider Buying and Selling at Devon Energy

In related news, SVP Andrea Alexander sold 18,000 shares of the 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 transaction, the senior vice president owned 138,529 shares of the company’s stock, valued at $6,474,845.46. This represents a 11.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.58% of the company’s stock.

About Devon Energy

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.