Aptus Capital Advisors LLC Grows Stake in Devon Energy Corporation $DVN

Aptus Capital Advisors LLC grew its position in Devon Energy Corporation (NYSE:DVN) by 3.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 409,890 shares of the energy company’s stock after purchasing an additional 12,550 shares during the period. Aptus Capital Advisors LLC’s holdings in Devon Energy were worth $15,014,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in DVN. Accredited Wealth Management LLC grew its holdings in shares of Devon Energy by 61.6% during the third quarter. Accredited Wealth Management LLC now owns 808 shares of the energy company’s stock valued at $28,000 after buying an additional 308 shares during the last quarter. Ameriflex Group Inc. grew its holdings in shares of Devon Energy by 702.0% during the third quarter. Ameriflex Group Inc. now owns 802 shares of the energy company’s stock valued at $28,000 after buying an additional 702 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in shares of Devon Energy during the third quarter valued at $31,000. Olistico Wealth LLC purchased a new stake in shares of Devon Energy during the fourth quarter valued at $31,000. Finally, Elyxium Wealth LLC purchased a new stake in shares of Devon Energy during the fourth quarter valued at $31,000. 69.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DVN has been the topic of a number of research analyst reports. Wall Street Zen raised shares of Devon Energy from a “hold” rating to a “buy” rating in a report on Saturday. Evercore raised shares of Devon Energy from an “in-line” rating to an “outperform” rating and set a $54.00 price objective on the stock in a report on Wednesday. Zacks Research lowered shares of Devon Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 27th. Royal Bank Of Canada boosted their price objective on shares of Devon Energy from $46.00 to $59.00 and gave the company a “sector perform” rating in a report on Wednesday, April 8th. Finally, Citigroup boosted their price objective on shares of Devon Energy from $60.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, May 20th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.67.

Insider Activity

In related news, SVP Andrea Alexander sold 18,000 shares of Devon Energy stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $46.74, for a total value of $841,320.00. Following the completion of the transaction, the senior vice president owned 138,529 shares in the company, valued at $6,474,845.46. The trade was a 11.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Adam M. Vela sold 24,342 shares of the company’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $47.21, for a total value of $1,149,185.82. Following the completion of the transaction, the senior vice president directly owned 130,540 shares of the company’s stock, valued at $6,162,793.40. The trade was a 15.72% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 112,371 shares of company stock worth $5,258,059 in the last ninety days. Company insiders own 4.58% of the company’s stock.

Devon Energy Trading Down 0.1%

NYSE DVN opened at $45.26 on Monday. The company has a market capitalization of $28.13 billion, a PE ratio of 12.61 and a beta of 0.38. The company has a fifty day moving average of $47.04 and a 200 day moving average of $43.14. Devon Energy Corporation has a 1 year low of $31.45 and a 1 year high of $52.71. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.01 and a quick ratio of 0.94.

Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, May 5th. The energy company reported $1.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.02). The business had revenue of $3.81 billion for the quarter, compared to analyst estimates of $4.34 billion. Devon Energy had a net margin of 13.71% and a return on equity of 15.22%. The company’s revenue for the quarter was down 14.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.82 earnings per share. Research analysts forecast that Devon Energy Corporation will post 4.73 earnings per share for the current year.

Devon Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, June 15th. This is an increase from Devon Energy’s previous quarterly dividend of $0.24. Devon Energy’s dividend payout ratio is currently 26.74%.

About Devon Energy

Devon Energy Corporation (NYSE: DVN) is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.

Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.