Aptus Capital Advisors LLC Has $16.41 Million Holdings in Devon Energy Corporation $DVN

Key Points

• Aptus Capital Advisors LLC increased its stake in Devon Energy Corporation by 2,186.9% during Q1, owning approximately $16.4 million worth of shares.
• Devon Energy recently announced a quarterly dividend of $0.24 per share, equating to an annual yield of 2.8% with a low payout ratio of 21.52%.
• Wells Fargo & Company and BMO Capital Markets both raised their price targets for Devon Energy, with Wells Fargo's target now at $43.00 and BMO's at $51.00, indicating positive sentiment among analysts.

Aptus Capital Advisors LLC raised its holdings in Devon Energy Corporation (NYSE:DVN - Free Report) by 2,186.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 438,810 shares of the energy company's stock after acquiring an additional 419,622 shares during the period. Aptus Capital Advisors LLC owned about 0.07% of Devon Energy worth $16,411,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of DVN. Financial Gravity Asset Management Inc. bought a new position in Devon Energy in the first quarter valued at about $26,000. Banque Cantonale Vaudoise bought a new stake in shares of Devon Energy during the first quarter worth about $26,000. Accredited Wealth Management LLC bought a new stake in shares of Devon Energy during the fourth quarter worth about $28,000. Rakuten Securities Inc. grew its holdings in shares of Devon Energy by 94.6% during the first quarter. Rakuten Securities Inc. now owns 833 shares of the energy company's stock worth $31,000 after purchasing an additional 405 shares during the last quarter. Finally, SouthState Corp grew its holdings in shares of Devon Energy by 350.5% during the first quarter. SouthState Corp now owns 991 shares of the energy company's stock worth $37,000 after purchasing an additional 771 shares during the last quarter. Institutional investors own 69.72% of the company's stock.

Insider Transactions at Devon Energy

In other Devon Energy news, Director Kelt Kindick sold 7,685 shares of the business's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $33.46, for a total value of $257,140.10. Following the transaction, the director directly owned 31,801 shares of the company's stock, valued at approximately $1,064,061.46. The trade was a 19.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.71% of the company's stock.

Devon Energy Trading Up 0.2%

Shares of Devon Energy stock traded up $0.0560 during midday trading on Thursday, reaching $33.8360. The company had a trading volume of 5,310,943 shares, compared to its average volume of 8,964,609. The stock has a fifty day moving average price of $33.26 and a 200 day moving average price of $33.13. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.22 and a quick ratio of 1.13. The firm has a market cap of $21.48 billion, a PE ratio of 7.59, a P/E/G ratio of 1.92 and a beta of 1.07. Devon Energy Corporation has a fifty-two week low of $25.89 and a fifty-two week high of $46.04.

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

Devon Energy Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. 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 report on Monday, July 7th. Bank of America cut their price target on shares of Devon Energy from $52.00 to $42.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. UBS Group boosted their price objective on shares of Devon Energy from $37.00 to $40.00 and gave the stock a "neutral" rating in a research note on Wednesday. Wolfe Research raised their target price on Devon Energy from $47.00 to $49.00 and gave the stock an "outperform" rating in a research report on Monday, June 23rd. Finally, Tudor, Pickering, Holt & Co. lifted their target price on Devon Energy from $42.00 to $44.00 in a report on Thursday, July 3rd. Fifteen analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $44.15.

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.