Savant Capital LLC Boosts Position in Devon Energy Corporation $DVN

Savant Capital LLC raised its position in Devon Energy Corporation (NYSE:DVN) by 219.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 221,685 shares of the energy company’s stock after acquiring an additional 152,239 shares during the quarter. Savant Capital LLC’s holdings in Devon Energy were worth $7,052,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Banque Cantonale Vaudoise purchased a new stake in shares of Devon Energy during the 1st quarter valued at about $26,000. Financial Gravity Asset Management Inc. bought a new stake in Devon Energy during the first quarter valued at approximately $26,000. Opal Wealth Advisors LLC bought a new stake in Devon Energy during the second quarter valued at approximately $25,000. Trust Co. of Vermont increased its holdings in Devon Energy by 241.3% during the second quarter. Trust Co. of Vermont now owns 942 shares of the energy company’s stock valued at $30,000 after buying an additional 666 shares during the last quarter. Finally, SouthState Corp raised its position in Devon Energy by 350.5% in the first quarter. SouthState Corp now owns 991 shares of the energy company’s stock worth $37,000 after acquiring an additional 771 shares during the period. 69.72% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Devon Energy

In other Devon Energy news, Director Kelt Kindick sold 7,685 shares of the stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $33.46, for a total transaction of $257,140.10. Following the completion of the transaction, the director owned 31,801 shares of the company’s stock, valued at $1,064,061.46. This represents a 19.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.71% of the stock is owned by company insiders.

Devon Energy Stock Up 3.9%

NYSE DVN opened at $33.68 on Friday. Devon Energy Corporation has a 12 month low of $25.89 and a 12 month high of $39.74. The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. The stock has a market cap of $21.38 billion, a PE ratio of 7.55, a P/E/G ratio of 2.49 and a beta of 1.01. The stock’s 50 day moving average is $33.97 and its 200 day moving average is $33.24.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Wednesday, November 5th. The energy company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.11. Devon Energy had a net margin of 16.57% and a return on equity of 18.59%. The firm had revenue of $0.00 million for the quarter, compared to analysts’ expectations of $4.10 billion. During the same quarter last year, the business posted $1.10 earnings per share. Research analysts predict that Devon Energy Corporation will post 4.85 EPS for the current fiscal year.

Devon Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be paid a $0.24 dividend. The ex-dividend date is Monday, December 15th. This represents a $0.96 annualized dividend and a yield of 2.9%. Devon Energy’s payout ratio is presently 22.59%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on DVN. Raymond James Financial reissued an “outperform” rating and set a $45.00 price objective (up previously from $40.00) on shares of Devon Energy in a research report on Tuesday, July 22nd. UBS Group raised their target price on Devon Energy from $37.00 to $40.00 and gave the stock a “neutral” rating in a report on Wednesday, August 20th. Scotiabank reissued an “outperform” rating on shares of Devon Energy in a report on Thursday, October 9th. Roth Capital started coverage on Devon Energy in a research report on Monday, October 13th. They issued a “buy” rating and a $42.00 price target for the company. Finally, Jefferies Financial Group raised their price objective on Devon Energy from $31.00 to $33.00 and gave the stock a “hold” rating in a research note on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $43.04.

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.