Vanguard Personalized Indexing Management LLC Has $3.86 Million Position in Devon Energy Corporation $DVN

Key Points

• Vanguard Personalized Indexing Management LLC has reduced its stake in Devon Energy Corporation by 14.5%, now holding 121,172 shares valued at approximately $3.86 million.
• Devon Energy reported a quarterly EPS of $0.84, exceeding analysts' expectations, with a net margin of 16.57% and revenue of $4.28 billion.
• The company recently announced a quarterly dividend of $0.24, which translates to an annual yield of 2.9%, with a payout ratio of 21.52%.

Vanguard Personalized Indexing Management LLC trimmed its holdings in Devon Energy Corporation (NYSE:DVN - Free Report) by 14.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 121,172 shares of the energy company's stock after selling 20,626 shares during the quarter. Vanguard Personalized Indexing Management LLC's holdings in Devon Energy were worth $3,855,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Banque Cantonale Vaudoise bought a new position in shares of Devon Energy during the 1st quarter worth approximately $26,000. Financial Gravity Asset Management Inc. bought a new position in Devon Energy during the first quarter worth $26,000. Opal Wealth Advisors LLC acquired a new stake in Devon Energy in the second quarter worth $25,000. Rakuten Securities Inc. increased its stake in Devon Energy by 94.6% in the first quarter. Rakuten Securities Inc. now owns 833 shares of the energy company's stock valued at $31,000 after purchasing an additional 405 shares in the last quarter. Finally, Trust Co. of Vermont raised its holdings in shares of Devon Energy by 241.3% during the second quarter. Trust Co. of Vermont now owns 942 shares of the energy company's stock valued at $30,000 after purchasing an additional 666 shares during the period. Institutional investors and hedge funds own 69.72% of the company's stock.

Insider Buying and Selling

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

Devon Energy Trading Down 1.6%

Shares of Devon Energy stock opened at $32.69 on Wednesday. The company has a market capitalization of $20.75 billion, a P/E ratio of 7.33, a price-to-earnings-growth ratio of 1.93 and a beta of 1.03. The stock has a fifty day simple moving average of $34.56 and a 200 day simple moving average of $33.02. Devon Energy Corporation has a 12-month low of $25.89 and a 12-month high of $41.84. The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55.

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

Devon Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were paid a $0.24 dividend. The ex-dividend date was Monday, September 15th. This represents a $0.96 annualized dividend and a yield of 2.9%. Devon Energy's dividend payout ratio is presently 21.52%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Tudor, Pickering, Holt & Co. raised their target price on Devon Energy from $42.00 to $44.00 in a research note on Thursday, July 3rd. UBS Group increased their price target on Devon Energy from $37.00 to $40.00 and gave the stock a "neutral" rating in a report on Wednesday, August 20th. Siebert Williams Shank boosted their price objective on Devon Energy from $47.00 to $52.00 and gave the company a "buy" rating in a report on Monday, June 23rd. Roth Capital started coverage on Devon Energy in a research report on Monday. They set a "buy" rating and a $42.00 target price on the stock. Finally, BMO Capital Markets lifted their price target on shares of Devon Energy from $48.00 to $51.00 and gave the company an "outperform" rating in a research report on Monday, July 14th. Seventeen analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $43.68.

About Devon Energy

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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