Kera Capital Partners Inc. Makes New $247,000 Investment in Devon Energy Corporation $DVN

Key Points

• Kera Capital Partners Inc. made a new investment of approximately $247,000 in Devon Energy Corporation, acquiring 7,765 shares of the stock in the 2nd quarter.
• Several institutional investors have increased their stakes in Devon Energy, with 69.72% of the stock now held by institutional investors.
• Devon Energy reported a quarterly earnings of $0.84 EPS, surpassing analysts' expectations and showed a 9.4% revenue increase compared to the same quarter last year.

Kera Capital Partners Inc. acquired a new position in shares of Devon Energy Corporation (NYSE:DVN - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 7,765 shares of the energy company's stock, valued at approximately $247,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DVN. Nissay Asset Management Corp Japan ADV raised its holdings in Devon Energy by 0.9% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 75,060 shares of the energy company's stock worth $2,342,000 after purchasing an additional 664 shares during the last quarter. Quantinno Capital Management LP raised its holdings in Devon Energy by 28.2% during the 4th quarter. Quantinno Capital Management LP now owns 57,628 shares of the energy company's stock worth $1,886,000 after purchasing an additional 12,671 shares during the last quarter. ProShare Advisors LLC raised its holdings in Devon Energy by 6.8% during the 4th quarter. ProShare Advisors LLC now owns 159,984 shares of the energy company's stock worth $5,236,000 after purchasing an additional 10,205 shares during the last quarter. Siemens Fonds Invest GmbH bought a new stake in Devon Energy during the 4th quarter worth about $187,000. Finally, Trace Wealth Advisors LLC bought a new stake in Devon Energy during the 4th quarter worth about $334,000. 69.72% of the stock is owned by institutional investors.

Insider Activity

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 stock was sold at an average price of $33.46, for a total value of $257,140.10. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.73% of the company's stock.

Devon Energy Price Performance

Shares of DVN opened at $34.81 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. The stock has a 50 day simple moving average of $33.91 and a 200 day simple moving average of $33.12. Devon Energy Corporation has a 52-week low of $25.89 and a 52-week high of $43.29. The firm has a market capitalization of $22.10 billion, a PE ratio of 7.80, a P/E/G ratio of 2.00 and a beta of 1.09.

Devon Energy (NYSE:DVN - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The energy company reported $0.84 earnings per share (EPS) for the quarter, beating 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 business had revenue of $4.28 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same period in the previous year, the firm earned $1.41 EPS. Devon Energy's quarterly revenue was up 9.4% compared to the same quarter last year. Sell-side analysts predict that Devon Energy Corporation will post 4.85 EPS for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given a $0.24 dividend. The ex-dividend date is Monday, September 15th. This represents a $0.96 annualized dividend and a dividend yield of 2.8%. Devon Energy's payout ratio is currently 21.52%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on DVN. Morgan Stanley upped their price target on Devon Energy from $46.00 to $49.00 and gave the company an "overweight" rating in a research note on Monday, August 18th. JPMorgan Chase & Co. upped their price target on Devon Energy from $40.00 to $42.00 and gave the company a "neutral" rating in a research note on Tuesday, July 8th. Barclays upped their price target on Devon Energy from $40.00 to $42.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. Wolfe Research upped their price target on Devon Energy from $47.00 to $49.00 and gave the company an "outperform" rating in a research note on Monday, June 23rd. Finally, William Blair began coverage on Devon Energy in a research note on Monday, August 25th. They issued an "outperform" rating for the company. Sixteen investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $44.15.

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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