Hilltop National Bank Invests $445,000 in Devon Energy Corporation $DVN

Key Points

• Hilltop National Bank invested approximately $445,000 in Devon Energy Corporation, acquiring 13,999 shares during the second quarter.
• Analysts have given Devon Energy a "Moderate Buy" rating with an average price target of $43.81, while some upgrade targets are as high as $44.00.
• Devon Energy reported a quarterly earnings per share (EPS) of $0.84, surpassing the consensus estimate of $0.83, alongside a 9.4% increase in revenue compared to last year.

Hilltop National Bank acquired a new position in Devon Energy Corporation (NYSE:DVN - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 13,999 shares of the energy company's stock, valued at approximately $445,000.

A number of other large investors also recently modified their holdings of DVN. Two Sigma Investments LP purchased a new position in shares of Devon Energy in the 4th quarter worth about $256,000. NBC Securities Inc. raised its holdings in shares of Devon Energy by 122,633.3% in the 1st quarter. NBC Securities Inc. now owns 3,682 shares of the energy company's stock worth $137,000 after purchasing an additional 3,679 shares during the period. Merit Financial Group LLC raised its holdings in shares of Devon Energy by 209.5% in the 1st quarter. Merit Financial Group LLC now owns 22,679 shares of the energy company's stock worth $848,000 after purchasing an additional 15,351 shares during the period. Secure Asset Management LLC purchased a new position in shares of Devon Energy in the 1st quarter worth about $201,000. Finally, Signal Advisors Wealth LLC raised its holdings in shares of Devon Energy by 11.6% in the 1st quarter. Signal Advisors Wealth LLC now owns 9,462 shares of the energy company's stock worth $354,000 after purchasing an additional 987 shares during the period. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DVN has been the topic of a number of research reports. Scotiabank restated an "outperform" rating on shares of Devon Energy in a report on Friday, July 11th. Mizuho dropped their target price on Devon Energy from $43.00 to $40.00 and set an "outperform" rating on the stock in a report on Monday, September 15th. Wells Fargo & Company raised their target price on Devon Energy from $42.00 to $43.00 and gave the company an "overweight" rating in a report on Tuesday, August 12th. UBS Group raised their target price on Devon Energy from $37.00 to $40.00 and gave the company a "neutral" rating in a report on Wednesday, August 20th. Finally, Tudor, Pickering, Holt & Co. raised their target price on Devon Energy from $42.00 to $44.00 in a report on Thursday, July 3rd. Sixteen equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $43.81.

Devon Energy Price Performance

DVN stock opened at $34.56 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.55. Devon Energy Corporation has a 52-week low of $25.89 and a 52-week high of $43.29. The stock's 50 day moving average is $34.44 and its two-hundred day moving average is $33.18. The company has a market capitalization of $21.94 billion, a PE ratio of 7.75, a P/E/G ratio of 1.99 and a beta of 1.03.

Devon Energy (NYSE:DVN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The energy company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate 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. Devon Energy's revenue for the quarter was up 9.4% compared to the same quarter last year. Analysts predict that Devon Energy Corporation will post 4.85 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were issued 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 2.8%. Devon Energy's payout ratio is currently 21.52%.

Insider Transactions at Devon Energy

In other Devon Energy news, Director Kelt Kindick sold 7,685 shares of Devon Energy stock in a transaction that occurred 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 sale, the director directly owned 31,801 shares in the company, valued at $1,064,061.46. The trade was a 19.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.71% of the stock is owned by corporate insiders.

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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