24,809 Devon Energy Corporation $DVN Shares Acquired by Kestra Advisory Services LLC

Kestra Advisory Services LLC lifted its position in shares of Devon Energy Corporation (NYSE:DVN) by 18.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 161,636 shares of the energy company’s stock after acquiring an additional 24,809 shares during the quarter. Kestra Advisory Services LLC’s holdings in Devon Energy were worth $7,442,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its position in Devon Energy by 418.3% during the 2nd quarter. Wellington Management Group LLP now owns 51,522,376 shares of the energy company’s stock worth $2,128,905,000 after purchasing an additional 41,581,435 shares during the period. BlackRock Inc. raised its stake in shares of Devon Energy by 57.6% during the 2nd quarter. BlackRock Inc. now owns 95,378,854 shares of the energy company’s stock worth $3,941,054,000 after buying an additional 34,871,366 shares in the last quarter. State Street Corp lifted its holdings in shares of Devon Energy by 89.8% in the 2nd quarter. State Street Corp now owns 73,179,266 shares of the energy company’s stock valued at $3,023,767,000 after buying an additional 34,615,088 shares during the period. Bank of America Corp DE acquired a new stake in shares of Devon Energy in the 2nd quarter valued at approximately $421,226,000. Finally, GQG Partners LLC purchased a new stake in shares of Devon Energy in the second quarter valued at approximately $402,558,000. 69.72% of the stock is owned by hedge funds and other institutional investors.

Devon Energy Stock Performance

Shares of DVN opened at $44.95 on Thursday. The company has a current ratio of 0.70, a quick ratio of 0.65 and a debt-to-equity ratio of 0.23. The stock has a market cap of $51.24 billion, a P/E ratio of 11.24, a PEG ratio of 1.11 and a beta of 0.43. The company has a 50-day moving average of $48.36 and a two-hundred day moving average of $46.12. Devon Energy Corporation has a 12-month low of $34.23 and a 12-month high of $52.71.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Thursday, November 5th. The energy company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.09. The company had revenue of $6.86 billion for the quarter, compared to the consensus estimate of $6.57 billion. Devon Energy had a net margin of 16.22% and a return on equity of 14.86%. The company’s revenue for the quarter was up 66.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.04 earnings per share. As a group, research analysts predict that Devon Energy Corporation will post 5.57 EPS for the current fiscal year.

Devon Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 30th. Investors of record on Tuesday, December 15th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Tuesday, December 15th. Devon Energy’s payout ratio is currently 32.00%.

Analyst Ratings Changes

A number of brokerages recently weighed in on DVN. Seaport Research Partners initiated coverage on Devon Energy in a report on Thursday, September 3rd. They set a “buy” rating and a $65.00 price objective on the stock. Truist Financial boosted their target price on shares of Devon Energy from $61.00 to $62.00 and gave the stock a “buy” rating in a research report on Monday. Mizuho lowered their price target on shares of Devon Energy from $68.00 to $65.00 and set an “outperform” rating on the stock in a research note on Friday, October 16th. UBS Group cut their price target on shares of Devon Energy from $65.00 to $62.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Citigroup raised their price objective on shares of Devon Energy from $65.00 to $67.00 and gave the company a “buy” rating in a research note on Monday, August 31st. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Devon Energy currently has an average rating of “Moderate Buy” and a consensus price target of $60.49.

Insider Buying and Selling

In related news, EVP Robert Ferrall Lowe III sold 6,756 shares of the company’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $50.95, for a total value of $344,218.20. Following the sale, the executive vice president owned 72,720 shares of the company’s stock, valued at approximately $3,705,084. This represents a 8.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Clay Gaspar bought 3,913 shares of the stock in a transaction on Monday, September 14th. The shares were bought at an average price of $51.08 per share, for a total transaction of $199,876.04. Following the acquisition, the chief executive officer owned 619,152 shares in the company, valued at $31,626,284.16. The trade was a 0.64% increase in their position. The SEC filing for this purchase provides additional information. 4.58% of the stock is currently owned by corporate insiders.

About Devon Energy

Devon Energy Corporation is an independent energy company focused on exploring for and producing oil, natural gas and natural gas liquids. Its activities include developing and operating producing properties and managing the infrastructure needed to bring its products to market. Founded in 1971, Devon is headquartered in Oklahoma City. Its operations are concentrated in U.S. onshore basins, including the Delaware Basin, Eagle Ford, Anadarko, Williston and Powder River basins. The company’s portfolio has evolved through acquisitions and asset sales over its history.