Significant Wealth Partners LLC Invests $523,000 in Devon Energy Corporation $DVN

Significant Wealth Partners LLC acquired a new stake in shares of Devon Energy Corporation (NYSE:DVN) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 12,658 shares of the energy company’s stock, valued at approximately $523,000.

Other institutional investors also recently made changes to their positions in the company. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in shares of Devon Energy in the 4th quarter valued at about $25,000. JFS Wealth Advisors LLC grew its stake in shares of Devon Energy by 56.6% during the second quarter. JFS Wealth Advisors LLC now owns 678 shares of the energy company’s stock valued at $28,000 after acquiring an additional 245 shares in the last quarter. MV Capital Management Inc. purchased a new position in shares of Devon Energy during the 4th quarter valued at approximately $29,000. KERR FINANCIAL PLANNING Corp bought a new stake in Devon Energy in the second quarter valued at about $29,000. Finally, Garton & Associates Financial Advisors LLC acquired a new position in shares of Devon Energy in the 4th quarter valued at about $29,000. 69.72% of the stock is owned by hedge funds and other institutional investors.

Devon Energy Stock Down 1.2%

DVN opened at $44.87 on Thursday. Devon Energy Corporation has a twelve month low of $31.47 and a twelve month high of $52.71. The firm has a market cap of $27.88 billion, a P/E ratio of 10.66 and a beta of 0.38. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.67 and a current ratio of 0.72. The business has a 50 day moving average price of $43.40 and a 200 day moving average price of $45.09.

Devon Energy (NYSE:DVN) last released its earnings results on Tuesday, August 4th. The energy company reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.17. The firm had revenue of $7.42 billion for the quarter, compared to analyst estimates of $6.01 billion. Devon Energy had a return on equity of 14.93% and a net margin of 16.67%.The company’s revenue was up 73.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.84 EPS. Research analysts forecast that Devon Energy Corporation will post 4.91 EPS for the current year.

Devon Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Tuesday, September 15th. Devon Energy’s dividend payout ratio (DPR) is presently 30.40%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on DVN shares. Weiss Ratings upgraded Devon Energy from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday. Wolfe Research set a $67.00 target price on Devon Energy and gave the stock an “outperform” rating in a research report on Monday, June 22nd. Raymond James Financial dropped their price target on Devon Energy from $66.00 to $64.00 and set a “strong-buy” rating on the stock in a research note on Thursday, July 16th. Zacks Research lowered shares of Devon Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 27th. Finally, Tudor Pickering raised Devon Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 20th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $59.60.

Insider Buying and Selling at Devon Energy

In related news, SVP Andrea Alexander sold 18,000 shares of the business’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $46.74, for a total value of $841,320.00. Following the sale, the senior vice president owned 138,529 shares of the company’s stock, valued at $6,474,845.46. The trade was a 11.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 4.58% of the company’s stock.

About Devon Energy

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.