6,599 Shares in Devon Energy Corporation $DVN Acquired by PDS Planning Inc

PDS Planning Inc bought a new position in Devon Energy Corporation (NYSE:DVN) during the 2nd quarter, Holdings Channel.com reports. The firm bought 6,599 shares of the energy company’s stock, valued at approximately $210,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. SVB Wealth LLC grew its holdings in Devon Energy by 4.1% in the 1st quarter. SVB Wealth LLC now owns 8,131 shares of the energy company’s stock worth $304,000 after acquiring an additional 321 shares during the last quarter. MAS Advisors LLC grew its holdings in Devon Energy by 4.3% in the 2nd quarter. MAS Advisors LLC now owns 7,951 shares of the energy company’s stock worth $253,000 after acquiring an additional 327 shares during the last quarter. Whittier Trust Co. grew its stake in shares of Devon Energy by 24.3% in the first quarter. Whittier Trust Co. now owns 1,927 shares of the energy company’s stock worth $72,000 after purchasing an additional 377 shares during the last quarter. Callan Family Office LLC grew its stake in shares of Devon Energy by 3.7% in the first quarter. Callan Family Office LLC now owns 10,581 shares of the energy company’s stock worth $396,000 after purchasing an additional 377 shares during the last quarter. Finally, Hager Investment Management Services LLC grew its stake in shares of Devon Energy by 9.9% in the first quarter. Hager Investment Management Services LLC now owns 4,235 shares of the energy company’s stock worth $158,000 after purchasing an additional 380 shares during the last quarter. Institutional investors own 69.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Evercore ISI lifted their price objective on Devon Energy from $34.00 to $37.00 and gave the stock an “in-line” rating in a research report on Monday, October 6th. Raymond James Financial reaffirmed an “outperform” rating and set a $45.00 target price (up previously from $40.00) on shares of Devon Energy in a research note on Tuesday, July 22nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Devon Energy in a research note on Wednesday, October 8th. Roth Capital set a $42.00 price objective on Devon Energy and gave the company a “buy” rating in a research report on Monday. Finally, Bernstein Bank cut their price objective on Devon Energy from $45.00 to $43.00 and set an “outperform” rating on the stock in a research report on Monday, July 7th. Seventeen analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.75.

Insider Transactions at Devon Energy

In related 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 transaction, the director owned 31,801 shares in the company, valued at $1,064,061.46. The trade was a 19.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.73% of the stock is currently owned by insiders.

Devon Energy Stock Performance

Shares of DVN opened at $33.22 on Tuesday. 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 business’s 50 day moving average price is $34.55 and its 200-day moving average price is $33.02. Devon Energy Corporation has a 52 week low of $25.89 and a 52 week high of $42.92. The stock has a market cap of $21.08 billion, a P/E ratio of 7.45, a P/E/G ratio of 1.89 and a beta of 1.03.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, August 5th. The energy company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.01. Devon Energy had a return on equity of 18.59% and a net margin of 16.57%.The firm had revenue of $4.28 billion for the quarter, compared to analysts’ expectations of $4.01 billion. During the same period in the previous year, the firm posted $1.41 EPS. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. Equities research analysts anticipate that Devon Energy Corporation will post 4.85 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were paid a $0.24 dividend. The ex-dividend date was Monday, September 15th. This represents a $0.96 dividend on an annualized basis and a yield of 2.9%. Devon Energy’s payout ratio is presently 21.52%.

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.