OMERS ADMINISTRATION Corp Invests $4.23 Million in Devon Energy Corporation $DVN

OMERS ADMINISTRATION Corp acquired a new position in shares of Devon Energy Corporation (NYSE:DVN) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 102,411 shares of the energy company’s stock, valued at approximately $4,232,000.

A number of other institutional investors have also recently bought and sold shares of the company. Tobam increased its position in 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 purchasing an additional 230 shares during the last quarter. TD Private Client Wealth LLC lifted its holdings 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 buying an additional 236 shares during the last quarter. Retirement Planning Group LLC grew its stake in shares of Devon Energy by 4.5% in the 2nd quarter. Retirement Planning Group LLC now owns 5,647 shares of the energy company’s stock valued at $233,000 after buying an additional 243 shares in the last quarter. JFS Wealth Advisors LLC grew its stake in shares of Devon Energy by 56.6% in the 2nd quarter. JFS Wealth Advisors LLC now owns 678 shares of the energy company’s stock valued at $28,000 after buying an additional 245 shares in the last quarter. Finally, Catalyst Financial Partners LLC grew its stake in shares of Devon Energy by 3.9% in the 4th quarter. Catalyst Financial Partners LLC now owns 6,712 shares of the energy company’s stock valued at $246,000 after buying an additional 254 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on DVN. Raymond James Financial cut their price objective on shares of Devon Energy from $66.00 to $64.00 and set a “strong-buy” rating on the stock in a research report on Thursday, July 16th. Susquehanna increased their price target on shares of Devon Energy from $57.00 to $63.00 and gave the stock a “positive” rating in a research note on Tuesday, July 21st. Zacks Research downgraded shares of Devon Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 27th. Wall Street Zen raised shares of Devon Energy from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Finally, Capital One Financial decreased their price objective on shares of Devon Energy from $63.00 to $61.00 and set an “overweight” rating for the company in a report on Tuesday, June 2nd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Devon Energy has an average rating of “Moderate Buy” and a consensus price target of $59.15.

Insider Transactions at Devon Energy

In related news, SVP Andrea Alexander sold 18,000 shares of Devon Energy stock in a transaction 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 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 4.58% of the company’s stock.

Devon Energy Stock Down 2.7%

DVN opened at $46.95 on Wednesday. The firm has a market cap of $51.64 billion, a P/E ratio of 11.15, a price-to-earnings-growth ratio of 1.33 and a beta of 0.38. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.67 and a current ratio of 0.72. The business has a 50 day moving average price of $43.91 and a 200 day moving average price of $45.56. Devon Energy Corporation has a twelve month low of $31.47 and a twelve month high of $52.71.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Tuesday, August 4th. The energy company reported $1.57 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 company had revenue of $7.42 billion for the quarter, compared to the consensus estimate of $6.01 billion. During the same quarter last year, the company posted $0.84 earnings per share. The company’s revenue for the quarter was up 73.1% compared to the same quarter last year. Research analysts forecast that Devon Energy Corporation will post 5.2 EPS for the current year.

Devon Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be paid a $0.32 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $1.28 dividend on an annualized basis and a yield of 2.7%. Devon Energy’s dividend payout ratio (DPR) is presently 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.