Cadence Wealth Management LLC purchased a new position in shares of Devon Energy Corporation (NYSE:DVN - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 22,188 shares of the energy company's stock, valued at approximately $917,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in Devon Energy in the fourth quarter worth about $25,000. JFS Wealth Advisors LLC grew its position in Devon Energy by 56.6% in 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. acquired a new position in Devon Energy during the 4th quarter valued at about $29,000. KERR FINANCIAL PLANNING Corp acquired a new position in Devon Energy during the 2nd quarter valued at about $29,000. Finally, Garton & Associates Financial Advisors LLC bought a new stake in shares of Devon Energy during the 4th quarter worth about $29,000. Institutional investors own 69.72% of the company's stock.
Devon Energy Price Performance
Shares of NYSE:DVN opened at $49.19 on Friday. The company's fifty day moving average is $43.73 and its two-hundred day moving average is $45.45. The company has a quick ratio of 0.67, a current ratio of 0.72 and a debt-to-equity ratio of 0.24. Devon Energy Corporation has a 12-month low of $31.47 and a 12-month high of $52.71. The company has a market cap of $54.11 billion, a P/E ratio of 11.68, a price-to-earnings-growth ratio of 1.35 and a beta of 0.38.
Devon Energy (NYSE:DVN - Get Free Report) last issued its earnings results on Tuesday, August 4th. The energy company reported $1.57 earnings per share for the quarter, beating analysts' consensus estimates of $1.40 by $0.17. Devon Energy had a return on equity of 14.93% and a net margin of 16.67%.The company had revenue of $7.42 billion for the quarter, compared to the consensus estimate of $6.01 billion. During the same quarter in the prior year, the company earned $0.84 EPS. The firm's quarterly revenue was up 73.1% on a year-over-year basis. Equities analysts expect that Devon Energy Corporation will post 5.2 earnings per share for the current fiscal year.
Devon Energy Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.28 dividend on an annualized basis and a yield of 2.6%. Devon Energy's dividend payout ratio (DPR) is presently 30.40%.
Analyst Ratings Changes
DVN has been the subject of several recent analyst reports. Susquehanna increased their price objective on shares of Devon Energy from $57.00 to $63.00 and gave the company a "positive" rating in a report on Tuesday, July 21st. Barclays decreased their price target on Devon Energy from $62.00 to $58.00 and set an "overweight" rating for the company in a research note on Monday, August 17th. Wolfe Research set a $67.00 price target on Devon Energy and gave the company an "outperform" rating in a research report on Monday, June 22nd. Mizuho boosted their price objective on Devon Energy from $62.00 to $68.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 27th. Finally, Citigroup upped their price objective on Devon Energy from $60.00 to $65.00 and gave the company a "buy" rating in a report on Wednesday, May 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. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $59.15.
Read Our Latest Analysis on Devon Energy
Key Devon Energy News
Here are the key news stories impacting Devon Energy this week:
- Positive Sentiment: Zacks Research raised its Q2 2027 EPS forecast to $1.05 from $1.03 and its FY2028 estimate to $4.76 from $4.73. These modest upgrades suggest some confidence in Devon Energy’s longer-term earnings potential. Zacks Research Raises Earnings Estimates for Devon Energy
- Neutral Sentiment: Devon Energy announced a major executive leadership reshuffle effective August 20. The change could improve execution or strategic focus, but the available report does not provide enough detail to determine its financial impact. Devon Energy Announces Major Executive Leadership Reshuffle
- Neutral Sentiment: Analysts published commentary covering Devon Energy and Plains All American, but the available headline does not disclose a specific rating change, target-price adjustment, or forecast that would clearly move DVN shares. Analysts Offer Insights on Energy Companies: Plains All American and Devon Energy
- Negative Sentiment: Zacks cut its Q3 2026 EPS forecast to $1.13 from $1.24, Q3 2027 to $0.89 from $1.19, Q4 2027 to $1.04 from $1.23, and FY2027 to $4.29 from $4.70. The reductions outweigh the small upward revisions and may pressure sentiment. Zacks maintains a “Hold” rating.
Insider Transactions at Devon Energy
In other Devon Energy news, SVP Andrea Alexander sold 18,000 shares of the business's stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $46.74, for a total value 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 4.58% of the company's stock.
About Devon Energy
(
Free Report)
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.
Further Reading
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