Headlands Technologies LLC Purchases Shares of 16,303 Devon Energy Co. (NYSE:DVN)

Headlands Technologies LLC purchased a new stake in shares of Devon Energy Co. (NYSE:DVN) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 16,303 shares of the energy company’s stock, valued at approximately $818,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Manchester Capital Management LLC bought a new position in Devon Energy during the 4th quarter valued at approximately $28,000. Tradewinds Capital Management LLC bought a new position in Devon Energy during the 1st quarter valued at approximately $30,000. Sound Income Strategies LLC raised its position in Devon Energy by 60.7% during the 4th quarter. Sound Income Strategies LLC now owns 675 shares of the energy company’s stock valued at $31,000 after purchasing an additional 255 shares during the last quarter. Rise Advisors LLC raised its position in Devon Energy by 1,365.3% during the 4th quarter. Rise Advisors LLC now owns 718 shares of the energy company’s stock valued at $33,000 after purchasing an additional 669 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its position in Devon Energy by 104.8% during the 4th quarter. Jones Financial Companies Lllp now owns 731 shares of the energy company’s stock valued at $33,000 after purchasing an additional 374 shares during the last quarter. Institutional investors own 69.72% of the company’s stock.

Insider Buying and Selling

In related news, EVP Tana K. Cashion sold 20,000 shares of Devon Energy stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $51.04, for a total value of $1,020,800.00. Following the completion of the sale, the executive vice president now owns 104,182 shares of the company’s stock, valued at $5,317,449.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.73% of the stock is currently owned by corporate insiders.

Devon Energy Stock Up 0.2 %

Shares of DVN stock traded up $0.09 during mid-day trading on Tuesday, hitting $48.14. The company’s stock had a trading volume of 3,763,537 shares, compared to its average volume of 7,262,818. Devon Energy Co. has a 52-week low of $40.47 and a 52-week high of $55.09. The business has a 50-day moving average price of $47.73 and a 200 day moving average price of $47.04. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.97 and a current ratio of 1.04. The stock has a market cap of $30.42 billion, a price-to-earnings ratio of 9.17, a PEG ratio of 1.20 and a beta of 2.07.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Wednesday, May 1st. The energy company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.06. Devon Energy had a return on equity of 29.02% and a net margin of 22.27%. The firm had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.64 billion. During the same quarter in the previous year, the business earned $1.46 earnings per share. The company’s revenue was down 5.9% on a year-over-year basis. Research analysts predict that Devon Energy Co. will post 5.35 EPS for the current fiscal year.

Devon Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.83%. The ex-dividend date was Friday, June 14th. Devon Energy’s payout ratio is currently 16.79%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on DVN shares. JPMorgan Chase & Co. raised their target price on Devon Energy from $62.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, July 8th. Scotiabank lowered their target price on Devon Energy from $67.00 to $60.00 and set a “sector outperform” rating for the company in a research note on Friday. BMO Capital Markets upgraded Devon Energy to a “strong-buy” rating in a research note on Wednesday, July 3rd. Bank of America restated a “buy” rating and issued a $64.00 target price on shares of Devon Energy in a research note on Friday, June 14th. Finally, Citigroup raised their target price on Devon Energy from $55.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Four equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Devon Energy presently has an average rating of “Moderate Buy” and an average price target of $59.56.

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.