Devon Energy Co. (NYSE:DVN) Shares Sold by Slocum Gordon & Co LLP

Slocum Gordon & Co LLP lowered its stake in shares of Devon Energy Co. (NYSE:DVN) by 1.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 66,070 shares of the energy company’s stock after selling 1,132 shares during the quarter. Devon Energy comprises about 2.3% of Slocum Gordon & Co LLP’s holdings, making the stock its 15th largest position. Slocum Gordon & Co LLP’s holdings in Devon Energy were worth $3,132,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Altus Wealth Group LLC increased its stake in shares of Devon Energy by 12.1% during the 2nd quarter. Altus Wealth Group LLC now owns 8,998 shares of the energy company’s stock valued at $427,000 after acquiring an additional 970 shares during the last quarter. National Bank of Canada FI grew its holdings in shares of Devon Energy by 447.6% during the 2nd quarter. National Bank of Canada FI now owns 1,179,538 shares of the energy company’s stock worth $56,299,000 after purchasing an additional 964,147 shares during the period. First Dallas Securities Inc. grew its holdings in shares of Devon Energy by 4.0% during the 2nd quarter. First Dallas Securities Inc. now owns 14,101 shares of the energy company’s stock worth $668,000 after purchasing an additional 539 shares during the period. Meridian Wealth Advisors LLC grew its holdings in shares of Devon Energy by 3.2% during the 2nd quarter. Meridian Wealth Advisors LLC now owns 83,189 shares of the energy company’s stock worth $3,943,000 after purchasing an additional 2,566 shares during the period. Finally, Impact Partnership Wealth LLC grew its holdings in shares of Devon Energy by 89.7% during the 2nd quarter. Impact Partnership Wealth LLC now owns 22,843 shares of the energy company’s stock worth $1,083,000 after purchasing an additional 10,802 shares during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Stock Performance

Devon Energy stock opened at $42.24 on Friday. The stock has a market cap of $26.70 billion, a P/E ratio of 8.03, a price-to-earnings-growth ratio of 1.26 and a beta of 2.03. The company has a current ratio of 1.11, a quick ratio of 1.03 and a debt-to-equity ratio of 0.45. The stock has a 50 day moving average of $45.52 and a 200-day moving average of $47.55. Devon Energy Co. has a 52 week low of $40.47 and a 52 week high of $55.09.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, August 6th. The energy company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.15. The business had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.90 billion. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. The business’s revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.18 EPS. On average, analysts expect that Devon Energy Co. will post 5.37 EPS for the current fiscal year.

Devon Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend is Friday, September 13th. Devon Energy’s dividend payout ratio is presently 16.79%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on DVN. Mizuho boosted their target price on Devon Energy from $57.00 to $61.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Morgan Stanley upped their price target on Devon Energy from $52.00 to $54.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. Sanford C. Bernstein decreased their price target on Devon Energy from $48.00 to $43.00 and set a “market perform” rating for the company in a report on Wednesday, July 17th. BMO Capital Markets upgraded Devon Energy to a “strong-buy” rating in a report on Wednesday, July 3rd. Finally, JPMorgan Chase & Co. upped their price target on Devon Energy from $62.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday, July 8th. 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $58.63.

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.