Savant Capital LLC Has $1.04 Million Stock Position in Devon Energy Corporation $DVN

Savant Capital LLC reduced its stake in shares of Devon Energy Corporation (NYSE:DVN) by 88.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 28,401 shares of the energy company’s stock after selling 212,088 shares during the quarter. Savant Capital LLC’s holdings in Devon Energy were worth $1,040,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of DVN. AQR Capital Management LLC raised its stake in Devon Energy by 78.7% during the 2nd quarter. AQR Capital Management LLC now owns 6,360,499 shares of the energy company’s stock valued at $202,327,000 after purchasing an additional 2,802,137 shares during the last quarter. Sourcerock Group LLC raised its stake in Devon Energy by 2,132.3% during the 2nd quarter. Sourcerock Group LLC now owns 1,751,276 shares of the energy company’s stock valued at $55,708,000 after purchasing an additional 1,672,824 shares during the last quarter. SG Americas Securities LLC raised its stake in Devon Energy by 446.7% during the 4th quarter. SG Americas Securities LLC now owns 1,236,301 shares of the energy company’s stock valued at $45,286,000 after purchasing an additional 1,010,170 shares during the last quarter. Wellington Management Group LLP raised its stake in Devon Energy by 704.3% during the 3rd quarter. Wellington Management Group LLP now owns 975,114 shares of the energy company’s stock valued at $34,187,000 after purchasing an additional 853,875 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new position in Devon Energy during the 3rd quarter valued at $24,766,000. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Key Devon Energy News

Here are the key news stories impacting Devon Energy this week:

• Positive Sentiment: Unusually heavy call-option buying suggests traders are positioning for more upside in Devon Energy, with call volume more than doubling versus the recent average.
• Positive Sentiment: Capital One kept an overweight rating on Devon Energy and still sees meaningful upside, even after lowering its price target from $63 to $61. Article Title
• Positive Sentiment: Devon Energy was recently highlighted as a trending stock on Zacks, indicating rising investor interest and potential momentum in the name. Article Title
• Positive Sentiment: The stock also benefited from a broader move higher in energy shares on Monday, as the sector gained on stronger trading. Article Title
• Neutral Sentiment: Devon Energy was again cited as a trending stock, but the headline mainly reflects elevated attention rather than a clear fundamental catalyst. Article Title
• Neutral Sentiment: Media reports say Devon Energy received an $8 billion offer for its Marcellus assets, which could be strategically important but is still only a reported bid. Article Title
• Negative Sentiment: The only clearly cautious development was Capital One’s reduced price target, signaling slightly less bullish valuation expectations than before.

Devon Energy Trading Down 0.2%

Shares of DVN stock opened at $46.24 on Wednesday. Devon Energy Corporation has a 52-week low of $30.80 and a 52-week high of $52.71. The stock has a market cap of $28.73 billion, a price-to-earnings ratio of 12.88 and a beta of 0.37. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.94 and a current ratio of 1.01. The firm has a fifty day moving average of $47.91 and a 200-day moving average of $42.51.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, May 5th. The energy company reported $1.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.02). Devon Energy had a net margin of 13.71% and a return on equity of 15.22%. The business had revenue of $3.81 billion during the quarter, compared to analyst estimates of $4.34 billion. During the same quarter in the prior year, the company posted $0.82 EPS. The company’s quarterly revenue was down 14.5% compared to the same quarter last year. On average, equities research analysts forecast that Devon Energy Corporation will post 4.24 earnings per share for the current fiscal year.

Devon Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a $0.32 dividend. The ex-dividend date is Monday, June 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.8%. This is a positive change from Devon Energy’s previous quarterly dividend of $0.24. Devon Energy’s dividend payout ratio is currently 26.74%.

Insiders Place Their Bets

In other news, EVP Jeffrey L. Ritenour sold 70,029 shares of the stock in a transaction on Monday, May 11th. The shares were sold at an average price of $46.66, for a total value of $3,267,553.14. Following the completion of the transaction, the executive vice president owned 428,452 shares in the company, valued at approximately $19,991,570.32. This represents a 14.05% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Adam M. Vela sold 24,342 shares of the company’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $47.21, for a total transaction of $1,149,185.82. Following the completion of the sale, the senior vice president directly owned 130,540 shares in the company, valued at approximately $6,162,793.40. The trade was a 15.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 4.58% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on DVN shares. Jefferies Financial Group upped their target price on shares of Devon Energy from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Monday, May 18th. Roth Mkm reiterated a “buy” rating and set a $57.00 target price on shares of Devon Energy in a research note on Tuesday, April 28th. TD Cowen upped their target price on shares of Devon Energy from $46.00 to $50.00 and gave the company a “hold” rating in a research note on Tuesday, March 17th. Raymond James Financial upgraded shares of Devon Energy from an “outperform” rating to a “strong-buy” rating and set a $72.00 target price for the company in a research note on Tuesday, May 5th. Finally, Zacks Research cut shares of Devon Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 27th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $57.89.

Devon Energy Company Profile

Devon Energy Corporation (NYSE: DVN) is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.

Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.