Devon Energy Corporation $DVN Shares Acquired by MAS Advisors LLC

MAS Advisors LLC increased its position in shares of Devon Energy Corporation (NYSE:DVN) by 4.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,951 shares of the energy company’s stock after buying an additional 327 shares during the period. MAS Advisors LLC’s holdings in Devon Energy were worth $253,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DVN. SVB Wealth LLC lifted its holdings in Devon Energy by 4.1% during the 1st quarter. SVB Wealth LLC now owns 8,131 shares of the energy company’s stock worth $304,000 after buying an additional 321 shares during the last quarter. Whittier Trust Co. grew its position in shares of Devon Energy by 24.3% during the first quarter. Whittier Trust Co. now owns 1,927 shares of the energy company’s stock worth $72,000 after acquiring an additional 377 shares during the last quarter. Callan Family Office LLC increased its stake in Devon Energy by 3.7% in the first quarter. Callan Family Office LLC now owns 10,581 shares of the energy company’s stock valued at $396,000 after purchasing an additional 377 shares during the period. Hager Investment Management Services LLC raised its stake in shares of Devon Energy by 9.9% during the first quarter. Hager Investment Management Services LLC now owns 4,235 shares of the energy company’s stock worth $158,000 after purchasing an additional 380 shares during the last quarter. Finally, Private Advisor Group LLC boosted its holdings in Devon Energy by 0.4% in the 1st quarter. Private Advisor Group LLC now owns 92,211 shares of the energy company’s stock valued at $3,449,000 after purchasing an additional 386 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Insider Transactions at Devon Energy

In related news, Director Kelt Kindick sold 7,685 shares of the firm’s stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $33.46, for a total value of $257,140.10. Following the transaction, the director owned 31,801 shares in the company, valued at approximately $1,064,061.46. This trade represents a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.73% of the company’s stock.

Devon Energy Stock Performance

Shares of DVN stock opened at $34.56 on Monday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.22. The firm has a market capitalization of $21.94 billion, a price-to-earnings ratio of 7.75, a price-to-earnings-growth ratio of 2.00 and a beta of 1.03. Devon Energy Corporation has a one year low of $25.89 and a one year high of $43.29. The company has a 50 day moving average price of $34.44 and a 200 day moving average price of $33.14.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, August 5th. The energy company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.01. The company had revenue of $4.28 billion during the quarter, compared to analysts’ expectations of $4.01 billion. Devon Energy had a net margin of 16.57% and a return on equity of 18.59%. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.41 EPS. Sell-side analysts anticipate that Devon Energy Corporation will post 4.85 EPS for the current year.

Devon Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Monday, September 15th. Devon Energy’s payout ratio is currently 21.52%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on DVN. Piper Sandler lowered their price target on Devon Energy from $58.00 to $57.00 and set an “overweight” rating on the stock in a report on Thursday, August 14th. Tudor, Pickering, Holt & Co. boosted their price target on Devon Energy from $42.00 to $44.00 in a report on Thursday, July 3rd. Barclays upped their price objective on Devon Energy from $40.00 to $42.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 6th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Devon Energy in a research report on Saturday, September 27th. Finally, Bernstein Bank reduced their target price on shares of Devon Energy from $45.00 to $43.00 and set an “outperform” rating on the stock in a report on Monday, July 7th. Sixteen research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.81.

Devon Energy Profile

Devon Energy Corporation, an independent energy company, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Eagle Ford, Anadarko, Williston, and Powder River Basins. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.