Devon Energy Corporation $DVN Shares Sold by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC reduced its position in shares of Devon Energy Corporation (NYSE:DVN) by 29.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,869 shares of the energy company’s stock after selling 29,130 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Devon Energy were worth $2,223,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Opal Wealth Advisors LLC bought a new stake in shares of Devon Energy in the second quarter worth $25,000. Financial Gravity Asset Management Inc. bought a new stake in shares of Devon Energy in the first quarter worth $26,000. Banque Cantonale Vaudoise bought a new stake in shares of Devon Energy in the first quarter worth $26,000. Trust Co. of Vermont increased its stake in shares of Devon Energy by 241.3% in the second quarter. Trust Co. of Vermont now owns 942 shares of the energy company’s stock worth $30,000 after buying an additional 666 shares during the last quarter. Finally, Rakuten Securities Inc. increased its stake in Devon Energy by 94.6% during the first quarter. Rakuten Securities Inc. now owns 833 shares of the energy company’s stock valued at $31,000 after purchasing an additional 405 shares during the last quarter. 69.72% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have weighed in on DVN shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of Devon Energy in a research note on Saturday, September 27th. Barclays lowered their target price on shares of Devon Energy from $42.00 to $40.00 and set an “equal weight” rating for the company in a research note on Tuesday. Siebert Williams Shank boosted their target price on shares of Devon Energy from $47.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, June 23rd. JPMorgan Chase & Co. boosted their target price on shares of Devon Energy from $40.00 to $42.00 and gave the company a “neutral” rating in a research note on Tuesday, July 8th. Finally, Scotiabank reiterated an “outperform” rating on shares of Devon Energy in a research note on Friday, July 11th. Sixteen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $43.48.

Insiders Place Their Bets

In related news, Director Kelt Kindick sold 7,685 shares of the company’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $33.46, for a total value of $257,140.10. Following the completion of the sale, the director owned 31,801 shares of the company’s stock, valued at $1,064,061.46. This represents a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.73% of the stock is owned by insiders.

Devon Energy Stock Up 0.1%

Devon Energy stock opened at $34.95 on Wednesday. The company has a 50-day simple moving average of $34.47 and a 200-day simple moving average of $33.14. The firm has a market capitalization of $22.18 billion, a P/E ratio of 7.84, a P/E/G ratio of 2.03 and a beta of 1.03. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.22. Devon Energy Corporation has a one year low of $25.89 and a one year high of $43.29.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, August 5th. The energy company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.83 by $0.01. The business had revenue of $4.28 billion during the quarter, compared to analyst estimates of $4.01 billion. Devon Energy had a net margin of 16.57% and a return on equity of 18.59%. The company’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.41 earnings per share. As a group, equities analysts expect that Devon Energy Corporation will post 4.85 earnings per share for the current year.

Devon Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were issued a $0.24 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $0.96 annualized dividend and a yield of 2.7%. Devon Energy’s dividend payout ratio is presently 21.52%.

About Devon Energy

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.