Atria Wealth Solutions Inc. Buys 19,528 Shares of Devon Energy Corporation (NYSE:DVN)

Key Points

• Atria Wealth Solutions Inc. increased its position in Devon Energy Corporation by 32.6% during Q1, holding 79,491 shares valued at approximately $2.97 million.
• Devon Energy recently reported $0.84 earnings per share, exceeding analyst expectations, with a 9.4% year-over-year revenue growth.
• The company announced a quarterly dividend of $0.24 per share, with a dividend yield of 2.9%, to be paid on September 30th.

Atria Wealth Solutions Inc. raised its holdings in shares of Devon Energy Corporation (NYSE:DVN - Free Report) by 32.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 79,491 shares of the energy company's stock after acquiring an additional 19,528 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Devon Energy were worth $2,973,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fuller & Thaler Asset Management Inc. raised its position in shares of Devon Energy by 42.8% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 10,395,225 shares of the energy company's stock worth $340,236,000 after buying an additional 3,114,656 shares in the last quarter. Marshall Wace LLP increased its stake in Devon Energy by 135.5% in the fourth quarter. Marshall Wace LLP now owns 5,371,518 shares of the energy company's stock valued at $175,810,000 after acquiring an additional 3,090,585 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Devon Energy by 530.3% during the first quarter. Assenagon Asset Management S.A. now owns 2,067,465 shares of the energy company's stock valued at $77,323,000 after buying an additional 1,739,436 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its stake in shares of Devon Energy by 345.9% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,163,792 shares of the energy company's stock valued at $70,821,000 after buying an additional 1,678,500 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of Devon Energy by 112.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 3,026,396 shares of the energy company's stock worth $99,054,000 after purchasing an additional 1,598,579 shares during the last quarter. Institutional investors own 69.72% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Bernstein Bank cut their target price on Devon Energy from $45.00 to $43.00 and set an "outperform" rating on the stock in a research note on Monday, July 7th. Jefferies Financial Group lifted their target price on shares of Devon Energy from $31.00 to $33.00 and gave the company a "hold" rating in a report on Monday, July 14th. JPMorgan Chase & Co. boosted their price objective on shares of Devon Energy from $40.00 to $42.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. Piper Sandler restated an "overweight" rating and issued a $58.00 price objective (up from $53.00) on shares of Devon Energy in a report on Thursday, July 17th. Finally, Mizuho cut their target price on shares of Devon Energy from $46.00 to $43.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Eleven equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $43.96.

Insider Buying and Selling

In related news, Director Kelt Kindick sold 7,685 shares of the company's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $33.46, for a total transaction of $257,140.10. Following the transaction, the director directly owned 31,801 shares in the company, valued at approximately $1,064,061.46. This represents a 19.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.73% of the company's stock.

Devon Energy Price Performance

DVN stock traded down $0.15 during mid-day trading on Wednesday, hitting $33.18. The company had a trading volume of 2,291,188 shares, compared to its average volume of 9,061,286. The company has a market capitalization of $21.06 billion, a price-to-earnings ratio of 7.44, a P/E/G ratio of 1.87 and a beta of 1.07. Devon Energy Corporation has a 12-month low of $25.89 and a 12-month high of $46.04. The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.55. The company has a 50-day moving average price of $33.13 and a 200 day moving average price of $33.17.

Devon Energy (NYSE:DVN - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The energy company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.83 by $0.01. The business had revenue of $4.28 billion for the quarter, compared to analysts' expectations of $4.01 billion. Devon Energy had a net margin of 16.57% and a return on equity of 18.59%. The business's quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.41 EPS. On average, research analysts anticipate that Devon Energy Corporation will post 4.85 earnings per share for the current year.

Devon Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.9%. The ex-dividend date is Monday, September 15th. Devon Energy's dividend payout ratio is presently 21.52%.

About Devon Energy

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.