waypoint wealth counsel Invests $248,000 in Devon Energy Corporation $DVN

Key Points

• Waypoint Wealth Counsel invested approximately $248,000 in Devon Energy Corporation by acquiring 7,797 shares during the second quarter.
• Analysts have set an average price target of $43.81 for Devon Energy, with 16 analysts issuing a Buy rating and 11 a Hold rating.
• Devon Energy announced a quarterly dividend of $0.24 per share, translating to an annualized dividend yield of 3.0%.

waypoint wealth counsel bought a new position in shares of Devon Energy Corporation (NYSE:DVN - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 7,797 shares of the energy company's stock, valued at approximately $248,000.

A number of other large investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Devon Energy by 2.6% during the first 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 last quarter. Victory Capital Management Inc. lifted its position in shares of Devon Energy by 12.9% in the 1st quarter. Victory Capital Management Inc. now owns 11,518,862 shares of the energy company's stock worth $430,805,000 after buying an additional 1,315,050 shares during the last quarter. Northern Trust Corp lifted its position in shares of Devon Energy by 5.1% in the 1st quarter. Northern Trust Corp now owns 6,577,195 shares of the energy company's stock worth $245,987,000 after buying an additional 316,460 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of Devon Energy by 81.1% in the 1st quarter. Ameriprise Financial Inc. now owns 5,029,987 shares of the energy company's stock worth $188,131,000 after buying an additional 2,252,918 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings 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 worth $176,036,000 after acquiring an additional 354,633 shares during the last quarter. Institutional investors own 69.72% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on DVN shares. UBS Group raised their target price on Devon Energy from $37.00 to $40.00 and gave the company a "neutral" rating in a research note on Wednesday, August 20th. William Blair started coverage on shares of Devon Energy in a research report on Monday, August 25th. They issued an "outperform" rating on the stock. Wolfe Research boosted their price objective on Devon Energy from $47.00 to $49.00 and gave the stock an "outperform" rating in a research report on Monday, June 23rd. Barclays cut their target price on Devon Energy from $42.00 to $40.00 and set an "equal weight" rating on the stock in a research note on Tuesday. Finally, Raymond James Financial restated 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 eleven have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $43.81.

Insider Activity

In related news, Director Kelt Kindick sold 7,685 shares of Devon Energy 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 transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.71% of the stock is owned by insiders.

Devon Energy Price Performance

Shares of NYSE DVN opened at $32.54 on Friday. Devon Energy Corporation has a twelve month low of $25.89 and a twelve month high of $43.29. The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. The firm has a 50-day moving average of $34.53 and a two-hundred day moving average of $33.07. The company has a market capitalization of $20.65 billion, a price-to-earnings ratio of 7.29, a PEG ratio of 1.89 and a beta of 1.03.

Devon Energy (NYSE:DVN - Get Free Report) last released its earnings results on Tuesday, August 5th. The energy company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.83 by $0.01. The business had revenue of $4.28 billion during the quarter, compared to analyst estimates of $4.01 billion. Devon Energy had a net margin of 16.57% and a return on equity of 18.59%. The business's quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.41 earnings per share. As a group, analysts expect 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 was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Monday, September 15th. Devon Energy's payout ratio is presently 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.

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