Sei Investments Co. Has $6.92 Million Stock Holdings in Devon Energy Corporation $DVN

Key Points

• Sei Investments Co. increased its holdings in Devon Energy Corporation by 35.5% during the first quarter, now owning 189,906 shares valued at approximately $6.9 million.
• Analysts generally have a positive outlook on Devon Energy, with an average rating of "Moderate Buy" and a price target of $43.93, while JPMorgan Chase raised their price objective from $40.00 to $42.00.
• The company announced a quarterly dividend of $0.24 per share, reflecting a 2.8% dividend yield, and is scheduled to be paid on September 30th.

Sei Investments Co. increased its stake in Devon Energy Corporation (NYSE:DVN - Free Report) by 35.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 189,906 shares of the energy company's stock after purchasing an additional 49,796 shares during the period. Sei Investments Co.'s holdings in Devon Energy were worth $6,917,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the stock. Townsquare Capital LLC grew its holdings in Devon Energy by 15.9% during the 4th quarter. Townsquare Capital LLC now owns 26,403 shares of the energy company's stock worth $864,000 after acquiring an additional 3,630 shares during the period. CreativeOne Wealth LLC grew its holdings in Devon Energy by 40.0% during the 4th quarter. CreativeOne Wealth LLC now owns 31,055 shares of the energy company's stock worth $1,016,000 after acquiring an additional 8,879 shares during the period. Canada Post Corp Registered Pension Plan acquired a new stake in Devon Energy during the 4th quarter worth $195,000. Guggenheim Capital LLC grew its holdings in Devon Energy by 4.8% during the 4th quarter. Guggenheim Capital LLC now owns 146,261 shares of the energy company's stock worth $4,787,000 after acquiring an additional 6,749 shares during the period. Finally, Bridgewater Associates LP grew its holdings in Devon Energy by 24.8% during the 4th quarter. Bridgewater Associates LP now owns 300,789 shares of the energy company's stock worth $9,845,000 after acquiring an additional 59,830 shares during the period. Institutional investors own 69.72% of the company's stock.

Insider Buying and Selling

In related news, Director Kelt Kindick sold 7,685 shares of the company's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $33.46, for a total value of $257,140.10. Following the transaction, the director owned 31,801 shares in the company, valued at approximately $1,064,061.46. This represents a 19.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.73% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on DVN. Scotiabank reaffirmed an "outperform" rating on shares of Devon Energy in a report on Friday, July 11th. Wolfe Research upped their target price on shares of Devon Energy from $47.00 to $49.00 and gave the stock an "outperform" rating in a research note on Monday, June 23rd. Mizuho reduced their target price on shares of Devon Energy from $46.00 to $43.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Wells Fargo & Company upped their target price on shares of Devon Energy from $42.00 to $43.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 12th. Finally, UBS Group upped their target price on shares of Devon Energy from $35.00 to $37.00 and gave the stock a "neutral" rating in a research note on Friday, July 11th. Fifteen investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $44.04.

Devon Energy Stock Performance

Shares of DVN stock traded down $0.0220 on Tuesday, reaching $33.5280. The stock had a trading volume of 4,308,203 shares, compared to its average volume of 8,978,527. The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.55. The firm's 50-day moving average is $33.27 and its two-hundred day moving average is $33.13. The firm has a market capitalization of $21.28 billion, a price-to-earnings ratio of 7.53, a P/E/G ratio of 1.92 and a beta of 1.07. Devon Energy Corporation has a 12 month low of $25.89 and a 12 month high of $46.04.

Devon Energy (NYSE:DVN - Get Free Report) last issued its earnings results on Tuesday, August 5th. The energy company reported $0.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.83 by $0.01. The company had revenue of $4.28 billion for the quarter, compared to analysts' expectations of $4.01 billion. Devon Energy had a net margin of 16.57% and a return on equity of 18.59%. Devon Energy's quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.41 EPS. On average, research analysts expect that Devon Energy Corporation will post 4.85 EPS for the current fiscal year.

Devon Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a $0.24 dividend. The ex-dividend date is Monday, September 15th. This represents a $0.96 dividend on an annualized basis and a yield of 2.9%. Devon Energy's dividend payout ratio is 21.52%.

Devon Energy Company 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.