Brighton Jones LLC Grows Stake in Devon Energy Corporation $DVN

Brighton Jones LLC increased its stake in Devon Energy Corporation (NYSE:DVN) by 428.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,878 shares of the energy company’s stock after acquiring an additional 24,225 shares during the period. Brighton Jones LLC’s holdings in Devon Energy were worth $950,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. MQS Management LLC grew its position in Devon Energy by 108.1% in the second quarter. MQS Management LLC now owns 20,833 shares of the energy company’s stock worth $663,000 after acquiring an additional 10,823 shares in the last quarter. Focus Partners Advisor Solutions LLC grew its position in Devon Energy by 344.9% in the second quarter. Focus Partners Advisor Solutions LLC now owns 37,200 shares of the energy company’s stock worth $1,183,000 after acquiring an additional 28,839 shares in the last quarter. Fielder Capital Group LLC grew its position in Devon Energy by 36.6% in the second quarter. Fielder Capital Group LLC now owns 7,660 shares of the energy company’s stock worth $244,000 after acquiring an additional 2,052 shares in the last quarter. Keeler Thomas Management LLC purchased a new position in Devon Energy in the second quarter worth about $843,000. Finally, Richards Merrill & Peterson Inc. lifted its stake in Devon Energy by 39.0% in the second quarter. Richards Merrill & Peterson Inc. now owns 7,338 shares of the energy company’s stock worth $233,000 after purchasing an additional 2,059 shares during the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Tudor, Pickering, Holt & Co. raised their price objective on shares of Devon Energy from $42.00 to $44.00 in a research note on Thursday, July 3rd. Bernstein Bank decreased their price objective on shares of Devon Energy from $45.00 to $43.00 and set an “outperform” rating for the company in a research note on Monday, July 7th. BMO Capital Markets raised their price objective on shares of Devon Energy from $48.00 to $51.00 and gave the stock an “outperform” rating in a research note on Monday, July 14th. Mizuho decreased their price objective on shares of Devon Energy from $43.00 to $40.00 and set an “outperform” rating for the company in a research note on Monday, September 15th. Finally, Siebert Williams Shank decreased their price objective on shares of Devon Energy from $52.00 to $46.00 and set a “buy” rating for the company in a research note on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Devon Energy has an average rating of “Moderate Buy” and an average price target of $43.14.

Insider Buying and Selling

In related news, Director Kelt Kindick sold 7,685 shares of the business’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 completion of the transaction, the director owned 31,801 shares of the company’s stock, valued at $1,064,061.46. The trade was a 19.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.73% of the stock is owned by company insiders.

Devon Energy Stock Performance

Devon Energy stock opened at $32.95 on Tuesday. The company has a 50 day moving average price of $34.42 and a 200-day moving average price of $33.06. 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 fifty-two week low of $25.89 and a fifty-two week high of $40.54. The company has a market capitalization of $20.91 billion, a PE ratio of 7.39, a P/E/G ratio of 2.55 and a beta of 1.03.

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

Devon Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were paid a $0.24 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $0.96 dividend on an annualized basis and a yield of 2.9%. Devon Energy’s payout ratio is 21.52%.

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.