Aspetuck Financial Management LLC Purchases Shares of 16,564 Devon Energy Corporation (NYSE:DVN)

Aspetuck Financial Management LLC bought a new position in Devon Energy Corporation (NYSE:DVN - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 16,564 shares of the energy company's stock, valued at approximately $619,000.

Several other institutional investors have also made changes to their positions in DVN. Sigma Planning Corp lifted its holdings in shares of Devon Energy by 2.2% during the 4th quarter. Sigma Planning Corp now owns 25,587 shares of the energy company's stock valued at $837,000 after buying an additional 550 shares during the last quarter. IFP Advisors Inc lifted its holdings in shares of Devon Energy by 120.9% during the 4th quarter. IFP Advisors Inc now owns 41,611 shares of the energy company's stock valued at $1,362,000 after buying an additional 22,770 shares during the last quarter. Lake Street Advisors Group LLC lifted its holdings in shares of Devon Energy by 190.6% during the 4th quarter. Lake Street Advisors Group LLC now owns 44,944 shares of the energy company's stock valued at $1,471,000 after buying an additional 29,477 shares during the last quarter. Cutter & CO Brokerage Inc. acquired a new stake in shares of Devon Energy during the 4th quarter valued at about $221,000. Finally, Oregon Public Employees Retirement Fund lifted its holdings in shares of Devon Energy by 5.2% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 56,359 shares of the energy company's stock valued at $1,845,000 after buying an additional 2,780 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on DVN. Citigroup reduced their price target on Devon Energy from $46.00 to $43.00 and set a "buy" rating for the company in a report on Friday, April 4th. Barclays raised their price objective on Devon Energy from $38.00 to $40.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 7th. UBS Group reduced their target price on Devon Energy from $41.00 to $35.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Piper Sandler reduced their target price on Devon Energy from $56.00 to $53.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. Finally, The Goldman Sachs Group boosted their target price on Devon Energy from $38.00 to $43.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Ten research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat, Devon Energy presently has an average rating of "Moderate Buy" and a consensus price target of $43.50.

Devon Energy Trading Down 0.7%

Shares of DVN traded down $0.22 during trading hours on Friday, hitting $32.26. 6,349,431 shares of the stock traded hands, compared to its average volume of 8,843,468. The company has a current ratio of 1.08, a quick ratio of 0.99 and a debt-to-equity ratio of 0.57. Devon Energy Corporation has a 1-year low of $25.89 and a 1-year high of $49.35. The firm has a market capitalization of $20.71 billion, a PE ratio of 7.35, a price-to-earnings-growth ratio of 2.40 and a beta of 1.02. The business has a fifty day moving average of $32.21 and a 200-day moving average of $33.41.

Devon Energy (NYSE:DVN - Get Free Report) last released its earnings results on Tuesday, May 6th. The energy company reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.06). Devon Energy had a net margin of 16.60% and a return on equity of 21.90%. The company had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.31 billion. During the same period in the previous year, the company posted $1.16 EPS. The company's quarterly revenue was up 23.8% compared to the same quarter last year. Analysts expect that Devon Energy Corporation will post 4.85 EPS for the current year.

Devon Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend is Friday, June 13th. Devon Energy's dividend payout ratio is currently 21.87%.

Devon Energy 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.