68,302 Shares in Devon Energy Corporation $DVN Purchased by McCollum Christoferson Group LLC

Key Points

• McCollum Christoferson Group LLC bought 68,302 Devon Energy shares worth approximately $2.82 million, while institutional investors collectively own 69.72% of DVN.
• Devon Energy reported quarterly EPS of $1.57, beating estimates of $1.40, on revenue of $7.42 billion—up 73.1% year over year.
• The company declared a quarterly dividend of $0.32, representing an annualized payout of $1.28 and a 2.9% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $59.60.

McCollum Christoferson Group LLC purchased a new position in shares of Devon Energy Corporation (NYSE:DVN - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 68,302 shares of the energy company's stock, valued at approximately $2,822,000.

Other institutional investors also recently bought and sold shares of the company. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in shares of Devon Energy in the fourth quarter valued at approximately $25,000. JFS Wealth Advisors LLC lifted its position in shares of Devon Energy by 56.6% during the 2nd quarter. JFS Wealth Advisors LLC now owns 678 shares of the energy company's stock valued at $28,000 after buying 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 acquired a new stake in Devon Energy in the 2nd quarter valued at $29,000. Finally, Garton & Associates Financial Advisors LLC acquired a new stake in Devon Energy in the 4th quarter valued at $29,000. 69.72% of the stock is owned by institutional investors and hedge funds.

Devon Energy Price Performance

DVN stock opened at $44.87 on Thursday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.72 and a quick ratio of 0.67. The business has a 50 day simple moving average of $43.40 and a 200-day simple moving average of $45.09. The firm has a market capitalization of $27.88 billion, a PE ratio of 10.66 and a beta of 0.38. Devon Energy Corporation has a 1 year low of $31.47 and a 1 year high of $52.71.

Devon Energy (NYSE:DVN - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The energy company reported $1.57 EPS for the quarter, topping analysts' consensus estimates of $1.40 by $0.17. The firm had revenue of $7.42 billion for the quarter, compared to the consensus estimate of $6.01 billion. Devon Energy had a return on equity of 14.93% and a net margin of 16.67%.The firm's revenue was up 73.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.84 earnings per share. Equities research analysts anticipate that Devon Energy Corporation will post 4.91 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.9%. Devon Energy's dividend payout ratio (DPR) is 30.40%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Weiss Ratings upgraded shares of Devon Energy from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday. JPMorgan Chase & Co. dropped their target price on shares of Devon Energy from $62.00 to $55.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 8th. Roth Capital reissued a "buy" rating and set a $57.00 target price on shares of Devon Energy in a research note on Tuesday, April 28th. Wells Fargo & Company set a $65.00 price target on shares of Devon Energy in a research report on Thursday. Finally, Morgan Stanley decreased their price target on shares of Devon Energy from $66.00 to $63.00 and set an "overweight" rating on the stock in a research note on Friday, June 26th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and five have assigned 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 $59.60.

Insider Activity

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

Devon Energy 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.

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