Devon Energy Corporation $DVN Shares Purchased by Callan Family Office LLC

Callan Family Office LLC raised its position in Devon Energy Corporation (NYSE:DVN - Free Report) by 74.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,491 shares of the energy company's stock after acquiring an additional 7,910 shares during the quarter. Callan Family Office LLC's holdings in Devon Energy were worth $588,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Banque Cantonale Vaudoise acquired a new stake in shares of Devon Energy during the first quarter worth approximately $26,000. Financial Gravity Asset Management Inc. acquired a new stake in shares of Devon Energy during the first quarter worth approximately $26,000. Opal Wealth Advisors LLC acquired a new stake in shares of Devon Energy during the second quarter worth approximately $25,000. Rakuten Securities Inc. grew its position 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 buying an additional 405 shares in the last quarter. Finally, Trust Co. of Vermont grew its position in shares of Devon Energy by 241.3% during the second quarter. Trust Co. of Vermont now owns 942 shares of the energy company's stock worth $30,000 after buying an additional 666 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company's stock.

Devon Energy Trading Up 2.2%

NYSE DVN opened at $33.22 on Tuesday. The business's 50-day moving average price is $34.55 and its two-hundred day moving average price is $33.02. Devon Energy Corporation has a 12 month low of $25.89 and a 12 month high of $42.92. The firm has a market capitalization of $21.08 billion, a PE ratio of 7.45, a price-to-earnings-growth ratio of 1.89 and a beta of 1.03. The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55.

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

Devon Energy Dividend Announcement

The business 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. The ex-dividend date was Monday, September 15th. This represents a $0.96 annualized dividend and a dividend yield of 2.9%. Devon Energy's dividend payout ratio is currently 21.52%.

Analyst Upgrades and Downgrades

A number of research firms have commented on DVN. JPMorgan Chase & Co. lifted 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. Bernstein Bank cut their price objective 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. Morgan Stanley lifted their price objective on shares of Devon Energy from $46.00 to $49.00 and gave the company an "overweight" rating in a research note on Monday, August 18th. Tudor, Pickering, Holt & Co. lifted their price objective on shares of Devon Energy from $42.00 to $44.00 in a research note on Thursday, July 3rd. Finally, Wolfe Research lifted their price objective on shares of Devon Energy from $47.00 to $49.00 and gave the company an "outperform" rating in a research note on Monday, June 23rd. Seventeen investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, Devon Energy presently has an average rating of "Moderate Buy" and an average target price of $43.75.

Insider Activity

In related news, Director Kelt Kindick sold 7,685 shares of Devon Energy stock in a transaction on Monday, August 11th. The stock was sold at an average price of $33.46, for a total transaction of $257,140.10. Following the completion of the sale, the director owned 31,801 shares of the company's stock, valued at approximately $1,064,061.46. This trade represents a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.73% of the stock is currently owned by corporate insiders.

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.

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