Jump Financial LLC Has $665,000 Stock Position in Devon Energy Corporation $DVN

Key Points

• Jump Financial LLC significantly reduced its holdings in Devon Energy Corporation, decreasing its position by 96.1% and holding only 17,787 shares valued at $665,000.
• Devon Energy's shares have seen **analysts** raise target prices, with Barclays boosting it to **$42** and BMO Capital increasing it to **$51**, reflecting a positive outlook with a consensus rating of **"Moderate Buy."**
• The company plans to pay a quarterly dividend of **$0.24 per share**, resulting in a **2.7% dividend yield**, with a payout ratio of **21.52%**.

Jump Financial LLC reduced its position in Devon Energy Corporation (NYSE:DVN - Free Report) by 96.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 17,787 shares of the energy company's stock after selling 433,639 shares during the period. Jump Financial LLC's holdings in Devon Energy were worth $665,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of DVN. Banque Cantonale Vaudoise bought a new stake in shares of Devon Energy in the first quarter valued at approximately $26,000. Financial Gravity Asset Management Inc. bought a new stake in shares of Devon Energy during the first quarter worth $26,000. Rakuten Securities Inc. grew its stake in shares of Devon Energy by 94.6% in 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. Accredited Wealth Management LLC bought a new stake in shares of Devon Energy in the fourth quarter worth $28,000. Finally, SouthState Corp grew its stake in shares of Devon Energy by 350.5% in 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. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on DVN shares. Barclays boosted their target price on shares of Devon Energy from $40.00 to $42.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. BMO Capital Markets upped their target price on shares of Devon Energy from $48.00 to $51.00 and gave the stock an "outperform" rating in a report on Monday, July 14th. Tudor, Pickering, Holt & Co. upped their target price on shares of Devon Energy from $42.00 to $44.00 in a report on Thursday, July 3rd. Mizuho reduced their price objective on shares of Devon Energy from $46.00 to $43.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Finally, Bernstein Bank reduced their price objective on shares of Devon Energy from $45.00 to $43.00 and set an "outperform" rating for the company in a research report on Monday, July 7th. Sixteen investment 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 company currently has a consensus rating of "Moderate Buy" and an average target price of $44.15.

Insider Transactions at Devon Energy

In related news, Director Kelt Kindick sold 7,685 shares of the business'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 transaction of $257,140.10. Following the completion of the sale, the director directly owned 31,801 shares in the company, 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 SEC, which can be accessed through the SEC website. Company insiders own 0.71% of the company's stock.

Devon Energy Stock Performance

Devon Energy stock opened at $36.12 on Monday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.22. Devon Energy Corporation has a fifty-two week low of $25.89 and a fifty-two week high of $45.34. The firm's fifty day moving average price is $33.39 and its 200-day moving average price is $33.19. The stock has a market cap of $22.93 billion, a P/E ratio of 8.10, a price-to-earnings-growth ratio of 2.08 and a beta of 1.09.

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 (EPS) 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 analyst estimates of $4.01 billion. Devon Energy had a net margin of 16.57% and a return on equity of 18.59%. The company's revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.41 EPS. On average, equities research analysts expect that Devon Energy Corporation will post 4.85 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Monday, September 15th. Devon Energy's payout ratio is presently 21.52%.

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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