Devon Energy Corporation $DVN Shares Bought by 111 Capital

Key Points

• 111 Capital increased its stake in Devon Energy by 319.5%, owning 26,199 shares worth $833,000 after acquiring an additional 19,953 shares in Q2.
• Devon Energy reported earnings of $0.84 per share for the latest quarter, exceeding analysts' expectations, with revenues reaching $4.28 billion.
• The company recently declared a quarterly dividend of $0.24 per share, yielding 2.8%, alongside a dividend payout ratio of 21.52%.

111 Capital grew its stake in shares of Devon Energy Corporation (NYSE:DVN - Free Report) by 319.5% in the second quarter, according to its most recent filing with the SEC. The fund owned 26,199 shares of the energy company's stock after acquiring an additional 19,953 shares during the period. 111 Capital's holdings in Devon Energy were worth $833,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Banque Cantonale Vaudoise acquired a new stake in shares of Devon Energy during the 1st quarter valued at $26,000. Financial Gravity Asset Management Inc. acquired a new stake in shares of Devon Energy during the 1st quarter valued at $26,000. Opal Wealth Advisors LLC acquired a new stake in shares of Devon Energy during the 2nd quarter valued at $25,000. Rakuten Securities Inc. lifted its position in shares of Devon Energy by 94.6% during the 1st quarter. Rakuten Securities Inc. now owns 833 shares of the energy company's stock valued at $31,000 after acquiring an additional 405 shares during the last quarter. Finally, Trust Co. of Vermont lifted its position in shares of Devon Energy by 241.3% during the 2nd quarter. Trust Co. of Vermont now owns 942 shares of the energy company's stock valued at $30,000 after acquiring an additional 666 shares during the last quarter. Institutional investors and hedge funds own 69.72% of the company's stock.

Devon Energy Trading Up 0.7%

NYSE DVN opened at $34.56 on Friday. Devon Energy Corporation has a 1-year low of $25.89 and a 1-year high of $43.29. The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $21.94 billion, a PE ratio of 7.75, a price-to-earnings-growth ratio of 2.00 and a beta of 1.03. The firm's fifty day simple moving average is $34.44 and its 200-day simple moving average is $33.16.

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

Devon Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Monday, September 15th. Devon Energy's dividend payout ratio is presently 21.52%.

Insider Buying and Selling

In other Devon Energy news, Director Kelt Kindick sold 7,685 shares of the stock in a transaction on 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 of the company's stock, valued at $1,064,061.46. This represents a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.71% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on DVN. JPMorgan Chase & Co. boosted their target price on shares of Devon Energy from $40.00 to $42.00 and gave the company a "neutral" rating in a research note on Tuesday, July 8th. Weiss Ratings reissued a "hold (c-)" rating on shares of Devon Energy in a research note on Saturday, September 27th. Bernstein Bank cut their target price on shares of Devon Energy from $45.00 to $43.00 and set an "outperform" rating on the stock in a research note on Monday, July 7th. Scotiabank reissued an "outperform" rating on shares of Devon Energy in a research note on Friday, July 11th. Finally, Wells Fargo & Company boosted their target price on shares of Devon Energy from $42.00 to $43.00 and gave the company an "overweight" rating in a research note on Tuesday, August 12th. Sixteen analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $43.81.

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.

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