11,558 Shares in Devon Energy Corporation $DVN Purchased by Strategies Wealth Advisors LLC

Key Points

• Strategies Wealth Advisors LLC acquired a new stake in Devon Energy Corporation, purchasing 11,558 shares valued at approximately $432,000 during Q1.
• Institutional investors collectively hold 69.72% of DVN's stock, indicating strong institutional interest in the company.
• Devon Energy recently announced a quarterly dividend of $0.24 per share, reflecting an annualized dividend yield of 2.8%.

Strategies Wealth Advisors LLC acquired a new position in shares of Devon Energy Corporation (NYSE:DVN - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 11,558 shares of the energy company's stock, valued at approximately $432,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Devon Energy by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 82,780,738 shares of the energy company's stock worth $3,096,000,000 after purchasing an additional 2,098,568 shares during the period. Victory Capital Management Inc. increased its stake in Devon Energy by 12.9% in the first quarter. Victory Capital Management Inc. now owns 11,518,862 shares of the energy company's stock valued at $430,805,000 after acquiring an additional 1,315,050 shares during the period. Northern Trust Corp increased its stake in Devon Energy by 5.1% in the first quarter. Northern Trust Corp now owns 6,577,195 shares of the energy company's stock valued at $245,987,000 after acquiring an additional 316,460 shares during the period. Ameriprise Financial Inc. increased its stake in Devon Energy by 81.1% in the first quarter. Ameriprise Financial Inc. now owns 5,029,987 shares of the energy company's stock valued at $188,131,000 after acquiring an additional 2,252,918 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Devon Energy by 8.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,706,837 shares of the energy company's stock valued at $176,036,000 after acquiring an additional 354,633 shares during the period. Institutional investors own 69.72% of the company's stock.

Devon Energy Trading Up 1.7%

NYSE DVN traded up $0.61 during trading hours on Monday, hitting $35.77. The company's stock had a trading volume of 6,678,202 shares, compared to its average volume of 8,946,993. The stock has a fifty day moving average of $33.25 and a 200 day moving average of $33.13. Devon Energy Corporation has a twelve month low of $25.89 and a twelve month high of $46.04. The firm has a market capitalization of $22.71 billion, a P/E ratio of 8.02, a PEG ratio of 2.00 and a beta of 1.07. The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.55.

Devon Energy (NYSE:DVN - Get Free Report) last posted its earnings results on Tuesday, August 5th. The energy company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.01. Devon Energy had a net margin of 16.57% and a return on equity of 18.59%. The company had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same period last year, the business posted $1.41 earnings per share. The business's revenue for the quarter was up 9.4% compared to the same quarter last year. Equities research analysts forecast that Devon Energy Corporation will post 4.85 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

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

Insiders Place Their Bets

In other 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 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.73% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on DVN. Tudor, Pickering, Holt & Co. upped their target price on shares of Devon Energy from $42.00 to $44.00 in a research note on Thursday, July 3rd. The Goldman Sachs Group upped their target price on shares of Devon Energy from $38.00 to $43.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Barclays upped their target price on shares of Devon Energy from $40.00 to $42.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. Siebert Williams Shank upped their target price on shares of Devon Energy from $47.00 to $52.00 and gave the company a "buy" rating in a research note on Monday, June 23rd. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $45.00 price objective (up from $40.00) on shares of Devon Energy in a research note on Tuesday, July 22nd. Sixteen equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, Devon Energy currently has an average rating of "Moderate Buy" and an average 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.