True Wealth Design LLC Boosts Stock Position in Devon Energy Corporation $DVN

True Wealth Design LLC boosted its position in shares of Devon Energy Corporation (NYSE:DVN) by 2,216.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,193 shares of the energy company’s stock after acquiring an additional 4,012 shares during the period. True Wealth Design LLC’s holdings in Devon Energy were worth $133,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of DVN. Banque Cantonale Vaudoise bought a new position in shares of Devon Energy in the first quarter worth about $26,000. Financial Gravity Asset Management Inc. purchased a new position in Devon Energy in the 1st quarter worth approximately $26,000. Opal Wealth Advisors LLC purchased a new position in Devon Energy in the 2nd quarter worth approximately $25,000. Trust Co. of Vermont grew its holdings in Devon Energy by 241.3% during the 2nd 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 in the last quarter. Finally, SouthState Corp grew its holdings in Devon Energy by 350.5% during the 1st quarter. SouthState Corp now owns 991 shares of the energy company’s stock valued at $37,000 after buying an additional 771 shares in the last quarter. 69.72% of the stock is currently owned by institutional investors.

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 stock was sold at an average price of $33.46, for a total transaction of $257,140.10. Following the transaction, the director directly 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 sale was disclosed in a filing with the SEC, which is available at this link. 0.71% of the stock is owned by corporate insiders.

Devon Energy Stock Up 3.9%

Devon Energy stock opened at $33.68 on Friday. 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 firm has a market cap of $21.38 billion, a P/E ratio of 7.55, a P/E/G ratio of 2.49 and a beta of 1.01. The business has a fifty day moving average of $33.97 and a two-hundred day moving average of $33.24. Devon Energy Corporation has a twelve month low of $25.89 and a twelve month high of $39.74.

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

Devon Energy Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. UBS Group raised their price objective on Devon Energy from $37.00 to $40.00 and gave the company a “neutral” rating in a research report on Wednesday, August 20th. Piper Sandler reduced their price objective on Devon Energy from $58.00 to $57.00 and set an “overweight” rating on the stock in a research note on Thursday, August 14th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Devon Energy in a report on Wednesday, October 8th. Wells Fargo & Company cut their target price on shares of Devon Energy from $43.00 to $37.00 and set an “overweight” rating for the company in a report on Friday, October 17th. Finally, Raymond James Financial restated an “outperform” rating and issued a $45.00 price target (up previously from $40.00) on shares of Devon Energy in a research report on Tuesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.