Devon Energy Corporation $DVN Shares Purchased by Stephens Inc. AR

Key Points

• Stephens Inc. AR increased its holdings in Devon Energy Corporation by 90.4% during Q2, now owning 72,546 shares valued at approximately $2.3 million.
• In recent insider activity, Director Kelt Kindick sold 7,685 shares for over $257,000, representing a decrease in ownership of nearly 19.5%.
• Devon Energy's stock reported a 1.1% increase, with a current price of $32.43, while the company announced a quarterly dividend of $0.24 per share, yielding 3.0%.

Stephens Inc. AR raised its holdings in Devon Energy Corporation (NYSE:DVN - Free Report) by 90.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 72,546 shares of the energy company's stock after purchasing an additional 34,448 shares during the quarter. Stephens Inc. AR's holdings in Devon Energy were worth $2,308,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in DVN. Opal Wealth Advisors LLC purchased a new stake in Devon Energy in the 2nd quarter valued at approximately $25,000. Financial Gravity Asset Management Inc. purchased a new stake in Devon Energy in the 1st quarter valued at approximately $26,000. Banque Cantonale Vaudoise purchased a new stake in shares of Devon Energy during the 1st quarter worth approximately $26,000. Trust Co. of Vermont boosted its stake 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 worth $30,000 after acquiring an additional 666 shares in the last quarter. Finally, SouthState Corp boosted its stake in shares of Devon Energy by 350.5% during the 1st quarter. SouthState Corp now owns 991 shares of the energy company's stock worth $37,000 after acquiring an additional 771 shares in the last quarter. Hedge funds and other institutional investors own 69.72% of the company's stock.

Insider Activity at Devon Energy

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

Analyst Upgrades and Downgrades

DVN has been the subject of several recent research reports. Weiss Ratings restated a "hold (c-)" rating on shares of Devon Energy in a report on Wednesday, October 8th. UBS Group raised their target price on shares of Devon Energy from $37.00 to $40.00 and gave the company a "neutral" rating in a report on Wednesday, August 20th. Piper Sandler reduced their target price on Devon Energy from $58.00 to $57.00 and set an "overweight" rating on the stock in a research note on Thursday, August 14th. Susquehanna reduced their target price on Devon Energy to $41.00 and set a "positive" rating on the stock in a research note on Monday. Finally, Morgan Stanley reduced their target price on Devon Energy from $49.00 to $47.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eleven have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $43.14.

Devon Energy Stock Up 1.1%

Shares of Devon Energy stock opened at $32.43 on Thursday. The company has a fifty day moving average price of $34.46 and a 200 day moving average price of $32.91. 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 Corporation has a twelve month low of $25.89 and a twelve month high of $40.54. The stock has a market cap of $20.58 billion, a price-to-earnings ratio of 7.27, a price-to-earnings-growth ratio of 1.91 and a beta of 1.03.

Devon Energy (NYSE:DVN - Get Free Report) last announced 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 firm had revenue of $4.28 billion during 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 firm's revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.41 EPS. Equities research analysts forecast that Devon Energy Corporation will post 4.85 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were paid a dividend of $0.24 per share. The ex-dividend date was Monday, September 15th. This represents a $0.96 annualized dividend and a yield of 3.0%. Devon Energy's dividend payout ratio is 21.52%.

Devon Energy Company 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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