JBR Co Financial Management Inc Makes New $201,000 Investment in Devon Energy Co. (NYSE:DVN)

JBR Co Financial Management Inc purchased a new position in shares of Devon Energy Co. (NYSE:DVN) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 4,003 shares of the energy company’s stock, valued at approximately $201,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Salem Investment Counselors Inc. raised its stake in shares of Devon Energy by 31.4% in the 1st quarter. Salem Investment Counselors Inc. now owns 832 shares of the energy company’s stock worth $42,000 after buying an additional 199 shares in the last quarter. Retirement Group LLC raised its stake in shares of Devon Energy by 21.8% in the 1st quarter. Retirement Group LLC now owns 1,110 shares of the energy company’s stock worth $56,000 after buying an additional 199 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Devon Energy by 7.4% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 3,046 shares of the energy company’s stock worth $153,000 after buying an additional 209 shares in the last quarter. MCF Advisors LLC raised its stake in shares of Devon Energy by 5.6% in the 1st quarter. MCF Advisors LLC now owns 4,023 shares of the energy company’s stock worth $202,000 after buying an additional 215 shares in the last quarter. Finally, Magnolia Capital Advisors LLC raised its stake in shares of Devon Energy by 1.0% in the 1st quarter. Magnolia Capital Advisors LLC now owns 23,316 shares of the energy company’s stock worth $1,208,000 after buying an additional 230 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Insider Buying and Selling

In other news, EVP Tana K. Cashion sold 20,000 shares of the 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 transaction, the executive vice president now directly owns 104,182 shares in the company, valued at approximately $5,317,449.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.73% of the stock is currently owned by company insiders.

Devon Energy Trading Down 0.4 %

Shares of NYSE DVN traded down $0.19 during midday trading on Thursday, hitting $48.46. The stock had a trading volume of 4,771,392 shares, compared to its average volume of 7,266,119. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.04 and a quick ratio of 0.97. Devon Energy Co. has a fifty-two week low of $40.47 and a fifty-two week high of $55.09. The company’s 50-day simple moving average is $47.58 and its 200 day simple moving average is $47.08. The firm has a market cap of $30.63 billion, a P/E ratio of 9.25, a price-to-earnings-growth ratio of 1.25 and a beta of 2.07.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Wednesday, May 1st. The energy company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.06. The business had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.64 billion. Devon Energy had a return on equity of 29.02% and a net margin of 22.27%. The firm’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.46 earnings per share. Research analysts anticipate that Devon Energy Co. will post 5.36 EPS for the current year.

Devon Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date was Friday, June 14th. Devon Energy’s dividend payout ratio (DPR) is presently 16.79%.

Wall Street Analysts Forecast Growth

DVN has been the topic of a number of research reports. Piper Sandler boosted their price objective on Devon Energy from $60.00 to $61.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 14th. Wells Fargo & Company raised Devon Energy from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $46.00 to $59.00 in a research report on Monday, April 1st. Wolfe Research assumed coverage on Devon Energy in a research report on Thursday. They set a “peer perform” rating on the stock. Mizuho boosted their target price on Devon Energy from $57.00 to $61.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Finally, Barclays assumed coverage on Devon Energy in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $59.00 target price on the stock. Six analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $59.25.

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.