90,000 Shares in Devon Energy Corporation $DVN Bought by Impala Asset Management LLC

Impala Asset Management LLC purchased a new position in Devon Energy Corporation (NYSE:DVN) in the 2nd quarter, Holdings Channel.com reports. The fund purchased 90,000 shares of the energy company’s stock, valued at approximately $3,719,000. Devon Energy accounts for about 2.1% of Impala Asset Management LLC’s investment portfolio, making the stock its 9th largest holding.

Several other institutional investors have also added to or reduced their stakes in the business. Tobam increased its holdings in shares of Devon Energy by 16.4% in the fourth quarter. Tobam now owns 1,633 shares of the energy company’s stock worth $60,000 after buying an additional 230 shares during the period. TD Private Client Wealth LLC boosted its holdings in 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 during the period. Retirement Planning Group LLC boosted its holdings in Devon Energy by 4.5% during the 2nd quarter. Retirement Planning Group LLC now owns 5,647 shares of the energy company’s stock valued at $233,000 after acquiring an additional 243 shares during the period. JFS Wealth Advisors LLC grew its position in 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 acquiring an additional 245 shares during the last quarter. Finally, Catalyst Financial Partners LLC grew its position in Devon Energy by 3.9% during the 4th quarter. Catalyst Financial Partners LLC now owns 6,712 shares of the energy company’s stock worth $246,000 after acquiring an additional 254 shares during the last quarter. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Devon Energy news, SVP Andrea Alexander sold 18,000 shares of the company’s 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 completion of the transaction, the senior vice president directly owned 138,529 shares in the company, valued at approximately $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 can be accessed through the SEC website. Company insiders own 4.58% of the company’s stock.

Devon Energy Trading Up 0.7%

NYSE DVN opened at $47.16 on Friday. The stock has a market cap of $51.88 billion, a P/E ratio of 11.20, a price-to-earnings-growth ratio of 1.29 and a beta of 0.38. Devon Energy Corporation has a fifty-two week low of $31.47 and a fifty-two week high of $52.71. The stock has a 50 day simple moving average of $44.09 and a two-hundred day simple moving average of $45.61. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.67 and a current ratio of 0.72.

Devon Energy (NYSE:DVN) last posted its 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. The firm had revenue of $7.42 billion for the quarter, compared to analysts’ expectations of $6.01 billion. Devon Energy had a return on equity of 14.93% and a net margin of 16.67%.The business’s revenue was up 73.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.84 earnings per share. On average, analysts forecast that Devon Energy Corporation will post 5.2 earnings per share for the current year.

Devon Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders 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 yield of 2.7%. The ex-dividend date of this dividend is Tuesday, September 15th. Devon Energy’s payout ratio is presently 30.40%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on DVN shares. Barclays lowered their price objective on Devon Energy from $62.00 to $58.00 and set an “overweight” rating for the company in a research report on Monday, August 17th. JPMorgan Chase & Co. decreased their target price on shares of Devon Energy from $62.00 to $55.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 8th. Raymond James Financial lowered their price target on shares of Devon Energy from $66.00 to $64.00 and set a “strong-buy” rating for the company in a report on Thursday, July 16th. UBS Group dropped their price target on shares of Devon Energy from $58.00 to $54.00 and set a “buy” rating for the company in a research report on Wednesday, July 15th. Finally, Jefferies Financial Group raised their price target on shares of Devon Energy from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Monday, May 18th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $59.15.

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.