10,776 Shares in Devon Energy Corporation $DVN Bought by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp bought a new position in Devon Energy Corporation (NYSE:DVN) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 10,776 shares of the energy company’s stock, valued at approximately $343,000.

A number of other hedge funds also recently bought and sold shares of the company. Ameriprise Financial Inc. grew its position in shares of Devon Energy by 81.1% in the first quarter. Ameriprise Financial Inc. now owns 5,029,987 shares of the energy company’s stock valued at $188,131,000 after purchasing an additional 2,252,918 shares during the last quarter. Vanguard Group Inc. boosted its stake in Devon Energy by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 82,780,738 shares of the energy company’s stock valued at $3,096,000,000 after purchasing an additional 2,098,568 shares during the period. Nuveen LLC acquired a new stake in Devon Energy in the 1st quarter valued at approximately $69,975,000. AQR Capital Management LLC grew its holdings in Devon Energy by 100.0% in the 1st quarter. AQR Capital Management LLC now owns 3,558,362 shares of the energy company’s stock valued at $132,051,000 after buying an additional 1,779,382 shares during the last quarter. Finally, Encompass Capital Advisors LLC acquired a new stake in Devon Energy in the 1st quarter valued at approximately $63,561,000. 69.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on DVN. Royal Bank Of Canada set a $42.00 price target on Devon Energy and gave the stock a “sector perform” rating in a report on Friday, October 10th. Piper Sandler cut their target price on shares of Devon Energy from $58.00 to $57.00 and set an “overweight” rating for the company in a research note on Thursday, August 14th. UBS Group raised their price target on shares of Devon Energy from $37.00 to $40.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 20th. Raymond James Financial reaffirmed an “outperform” rating and set a $45.00 price objective (up previously from $40.00) on shares of Devon Energy in a research report on Tuesday, July 22nd. Finally, Susquehanna reduced their target price on shares of Devon Energy to $41.00 and set a “positive” rating for the company in a research note on Monday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $43.04.

Insider Activity

In other 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 sale, the director owned 31,801 shares of the company’s stock, valued at approximately $1,064,061.46. This represents a 19.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.71% of the company’s stock.

Devon Energy Stock Up 3.9%

Shares of DVN opened at $33.68 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.55. The company has a 50-day moving average price of $33.97 and a two-hundred day moving average price of $33.26. The stock has a market cap of $21.38 billion, a price-to-earnings ratio of 7.55, a P/E/G ratio of 2.49 and a beta of 1.01. Devon Energy Corporation has a 12 month low of $25.89 and a 12 month high of $39.74.

Devon Energy (NYSE:DVN) last issued its earnings results on Wednesday, November 5th. The energy company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.11. The business had revenue of $0.00 million during the quarter, compared to analysts’ expectations of $4.10 billion. Devon Energy had a return on equity of 18.59% and a net margin of 16.57%.During the same period in the prior year, the firm posted $1.10 EPS. Equities analysts predict that Devon Energy Corporation will post 4.85 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.9%. The ex-dividend date is Monday, December 15th. Devon Energy’s dividend payout ratio is currently 22.59%.

Devon Energy Company 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.