Kestra Advisory Services LLC Trims Stock Holdings in Devon Energy Corporation $DVN

Key Points

• Kestra Advisory Services LLC has decreased its holdings in Devon Energy Corporation by 19.8%, selling 23,126 shares, and now owns a total of 93,379 shares valued at approximately $3.49 million.
• Devon Energy reported a quarterly earnings per share of $0.84, exceeding analysts' expectations, with a revenue of $4.28 billion, marking a 9.4% year-over-year increase.
• The company declared a quarterly dividend of $0.24, representing an annualized dividend yield of 2.7%, with the ex-dividend date set for September 15th.

Kestra Advisory Services LLC cut its stake in Devon Energy Corporation (NYSE:DVN - Free Report) by 19.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 93,379 shares of the energy company's stock after selling 23,126 shares during the period. Kestra Advisory Services LLC's holdings in Devon Energy were worth $3,492,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. MML Investors Services LLC boosted its holdings in shares of Devon Energy by 144.3% in the 4th quarter. MML Investors Services LLC now owns 43,122 shares of the energy company's stock valued at $1,411,000 after purchasing an additional 25,473 shares during the last quarter. Nebula Research & Development LLC acquired a new stake in shares of Devon Energy during the 4th quarter worth $444,000. Northern Trust Corp increased its holdings in shares of Devon Energy by 2.4% during the 4th quarter. Northern Trust Corp now owns 6,260,735 shares of the energy company's stock worth $204,914,000 after buying an additional 144,789 shares during the last quarter. Lido Advisors LLC raised its position in shares of Devon Energy by 4.0% in the 4th quarter. Lido Advisors LLC now owns 29,647 shares of the energy company's stock worth $970,000 after buying an additional 1,136 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in Devon Energy by 59.9% in the fourth quarter. AQR Capital Management LLC now owns 1,778,980 shares of the energy company's stock valued at $57,728,000 after acquiring an additional 666,206 shares during the last quarter. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Devon Energy Stock Down 0.2%

Shares of NYSE:DVN traded down $0.08 during mid-day trading on Tuesday, hitting $36.02. 1,478,729 shares of the company traded hands, compared to its average volume of 8,843,455. The firm's 50 day simple moving average is $33.45 and its 200 day simple moving average is $33.20. The firm has a market cap of $22.87 billion, a P/E ratio of 8.08, a PEG ratio of 2.08 and a beta of 1.09. 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 52-week low of $25.89 and a 52-week high of $44.08.

Devon Energy (NYSE:DVN - Get Free Report) last released 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. Devon Energy had a return on equity of 18.59% and a net margin of 16.57%.The firm had revenue of $4.28 billion during the quarter, compared to analysts' expectations of $4.01 billion. During the same quarter in the prior year, the business earned $1.41 EPS. Devon Energy's quarterly revenue was up 9.4% compared to the same quarter last year. On average, equities analysts anticipate that Devon Energy Corporation will post 4.85 EPS for the current year.

Devon Energy Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on DVN shares. Mizuho lowered their price target on Devon Energy from $46.00 to $43.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Tudor, Pickering, Holt & Co. lifted their price objective on Devon Energy from $42.00 to $44.00 in a research note on Thursday, July 3rd. Morgan Stanley boosted their target price on Devon Energy from $46.00 to $49.00 and gave the stock an "overweight" rating in a report on Monday, August 18th. Siebert Williams Shank raised their price target on shares of Devon Energy from $47.00 to $52.00 and gave the company a "buy" rating in a report on Monday, June 23rd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Devon Energy from $40.00 to $42.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th. Sixteen research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $44.15.

Insiders Place Their Bets

In related news, Director Kelt Kindick sold 7,685 shares of Devon Energy stock in a transaction 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 sale, the director owned 31,801 shares of the company's stock, valued at $1,064,061.46. The trade was a 19.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.73% of the company's stock.

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.