KBC Group NV Has $5.30 Million Stock Position in Devon Energy Corporation $DVN

KBC Group NV boosted its holdings in Devon Energy Corporation (NYSE:DVN - Free Report) by 46.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 128,174 shares of the energy company's stock after purchasing an additional 40,805 shares during the quarter. KBC Group NV's holdings in Devon Energy were worth $5,296,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Woodline Partners LP boosted its holdings in shares of Devon Energy by 98.8% during the 1st quarter. Woodline Partners LP now owns 115,780 shares of the energy company's stock worth $4,330,000 after buying an additional 57,555 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Devon Energy during the 2nd quarter worth approximately $403,000. Jump Financial LLC increased its stake in shares of Devon Energy by 58.8% in the 2nd quarter. Jump Financial LLC now owns 28,251 shares of the energy company's stock valued at $899,000 after acquiring an additional 10,464 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Devon Energy by 17.8% in the 2nd quarter. Daiwa Securities Group Inc. now owns 148,882 shares of the energy company's stock valued at $4,736,000 after acquiring an additional 22,482 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its position in shares of Devon Energy by 6.0% during the 2nd quarter. NewEdge Advisors LLC now owns 144,174 shares of the energy company's stock valued at $4,586,000 after acquiring an additional 8,127 shares during the period. 69.72% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Devon Energy

In related news, SVP Andrea Alexander sold 18,000 shares of the firm's stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $46.74, for a total value of $841,320.00. Following the transaction, the senior vice president owned 138,529 shares of the company's stock, valued at approximately $6,474,845.46. This trade represents a 11.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.58% of the stock is owned by corporate insiders.

Devon Energy Stock Performance

NYSE DVN opened at $45.83 on Friday. The company has a market cap of $50.41 billion, a P/E ratio of 10.89 and a beta of 0.38. The company has a fifty day simple moving average of $43.40 and a 200 day simple moving average of $45.14. The company has a current ratio of 0.72, a quick ratio of 0.67 and a debt-to-equity ratio of 0.24. Devon Energy Corporation has a 12-month low of $31.47 and a 12-month high of $52.71.

Devon Energy (NYSE:DVN - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The energy company reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.17. Devon Energy had a net margin of 16.67% and a return on equity of 14.93%. The firm had revenue of $7.42 billion for the quarter, compared to the consensus estimate of $6.01 billion. During the same quarter in the prior year, the company posted $0.84 earnings per share. The business's revenue was up 73.1% on a year-over-year basis. Sell-side analysts predict that Devon Energy Corporation will post 4.99 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Tuesday, September 15th. Devon Energy's dividend payout ratio is currently 30.40%.

Analyst Ratings Changes

Several brokerages recently issued reports on DVN. Tudor Pickering raised shares of Devon Energy from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 20th. Roth Capital reiterated a "buy" rating and set a $57.00 price objective on shares of Devon Energy in a report on Tuesday, April 28th. Raymond James Financial cut their price objective on shares of Devon Energy from $66.00 to $64.00 and set a "strong-buy" rating on the stock in a research report on Thursday, July 16th. Weiss Ratings upgraded Devon Energy from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday. Finally, Evercore raised Devon Energy from an "in-line" rating to an "outperform" rating and set a $54.00 target price for the company in a research report on Wednesday, June 10th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $59.60.

Devon Energy Profile

Devon Energy Corporation NYSE: DVN is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.

Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.

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