17,699 Shares in Devon Energy Corporation $DVN Acquired by Evolve Private Wealth LLC

Evolve Private Wealth LLC acquired a new stake in Devon Energy Corporation (NYSE:DVN) in the second quarter, HoldingsChannel.com reports. The firm acquired 17,699 shares of the energy company’s stock, valued at approximately $731,000.

Several other large investors have also modified their holdings of DVN. Woodline Partners LP raised its stake in shares of Devon Energy by 98.8% during the first quarter. Woodline Partners LP now owns 115,780 shares of the energy company’s stock worth $4,330,000 after purchasing an additional 57,555 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in Devon Energy in the 2nd quarter valued at $403,000. Jump Financial LLC grew its position in Devon Energy by 58.8% in the 2nd quarter. Jump Financial LLC now owns 28,251 shares of the energy company’s stock valued at $899,000 after buying an additional 10,464 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in Devon Energy by 17.8% in the 2nd quarter. Daiwa Securities Group Inc. now owns 148,882 shares of the energy company’s stock valued at $4,736,000 after buying an additional 22,482 shares during the period. Finally, NewEdge Advisors LLC increased its stake in Devon Energy by 6.0% in the 2nd quarter. NewEdge Advisors LLC now owns 144,174 shares of the energy company’s stock valued at $4,586,000 after buying an additional 8,127 shares during the period. 69.72% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DVN has been the subject of several recent analyst reports. Zacks Research cut shares of Devon Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 27th. Morgan Stanley dropped their price target on shares of Devon Energy from $66.00 to $63.00 and set an “overweight” rating on the stock in a research note on Friday, June 26th. Argus reiterated a “buy” rating and set a $45.85 price target on shares of Devon Energy in a research note on Monday, August 17th. BMO Capital Markets reissued an “outperform” rating on shares of Devon Energy in a report on Wednesday, June 10th. Finally, Capital One Financial reduced their price objective on shares of Devon Energy from $63.00 to $61.00 and set an “overweight” rating for the company in a research report on Tuesday, June 2nd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $59.15.

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 value of $841,320.00. Following the completion of the transaction, the senior vice president owned 138,529 shares in the company, valued at $6,474,845.46. This trade represents a 11.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 4.58% of the company’s stock.

Devon Energy Price Performance

Shares of NYSE:DVN opened at $48.22 on Tuesday. The business’s 50 day simple moving average is $43.82 and its 200-day simple moving average is $45.54. The firm has a market capitalization of $53.05 billion, a price-to-earnings ratio of 11.45, a price-to-earnings-growth ratio of 1.35 and a beta of 0.38. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.72 and a quick ratio of 0.67. Devon Energy Corporation has a 12 month low of $31.47 and a 12 month high of $52.71.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, August 4th. The energy company reported $1.57 earnings per share 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 business had revenue of $7.42 billion for the quarter, compared to analysts’ expectations of $6.01 billion. During the same quarter in the prior year, the firm posted $0.84 EPS. The company’s revenue was up 73.1% compared to the same quarter last year. As a group, equities analysts forecast that Devon Energy Corporation will post 5.2 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

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

Devon Energy 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.