Devon Energy Corporation $DVN Stake Raised by Outfitters Financial LLC

Outfitters Financial LLC raised its holdings in shares of Devon Energy Corporation (NYSE:DVN) by 67.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,259 shares of the energy company’s stock after acquiring an additional 16,259 shares during the quarter. Outfitters Financial LLC’s holdings in Devon Energy were worth $1,664,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Woodline Partners LP boosted its stake in shares of Devon Energy by 98.8% during the 1st quarter. Woodline Partners LP now owns 115,780 shares of the energy company’s stock valued at $4,330,000 after buying an additional 57,555 shares during the period. Sivia Capital Partners LLC bought a new stake in Devon Energy in the 2nd quarter valued at $403,000. Jump Financial LLC grew its holdings in shares of Devon Energy by 58.8% during the 2nd quarter. Jump Financial LLC now owns 28,251 shares of the energy company’s stock worth $899,000 after purchasing an additional 10,464 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in shares of Devon Energy by 17.8% during the 2nd quarter. Daiwa Securities Group Inc. now owns 148,882 shares of the energy company’s stock valued at $4,736,000 after acquiring an additional 22,482 shares in the last quarter. Finally, NewEdge Advisors LLC grew its position in Devon Energy by 6.0% in the second quarter. NewEdge Advisors LLC now owns 144,174 shares of the energy company’s stock valued at $4,586,000 after acquiring an additional 8,127 shares during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.

Insider Activity at Devon Energy

In other news, SVP Andrea Alexander sold 18,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $46.74, for a total transaction of $841,320.00. Following the completion of the sale, the senior vice president owned 138,529 shares of the company’s stock, valued at approximately $6,474,845.46. This represents a 11.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 4.58% of the company’s stock.

Devon Energy Stock Performance

Shares of NYSE DVN opened at $49.03 on Thursday. Devon Energy Corporation has a one year low of $31.47 and a one year high of $52.71. The firm has a market cap of $53.93 billion, a price-to-earnings ratio of 11.65, a P/E/G ratio of 1.35 and a beta of 0.37. The stock’s fifty day moving average price is $44.54 and its two-hundred day moving average price is $45.74. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.72 and a quick ratio of 0.67.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, August 4th. The energy company reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.17. Devon Energy had a net margin of 16.67% and a return on equity of 14.93%. The business had revenue of $7.42 billion during the quarter, compared to analysts’ expectations of $6.01 billion. During the same quarter in the previous year, the company earned $0.84 EPS. The business’s revenue was up 73.1% on a year-over-year basis. On average, equities analysts forecast that Devon Energy Corporation will post 5.2 EPS for the current year.

Devon Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Tuesday, September 15th. Devon Energy’s payout ratio is 30.40%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. The Goldman Sachs Group dropped their target price on shares of Devon Energy from $54.00 to $53.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. Mizuho increased their target price on Devon Energy from $62.00 to $68.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. Weiss Ratings lowered Devon Energy from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 25th. Truist Financial raised their target price on shares of Devon Energy from $61.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Devon Energy in a report on Wednesday, June 10th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $59.23.

About Devon Energy

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.