World Investment Advisors Purchases 16,505 Shares of Devon Energy Corporation $DVN

World Investment Advisors lifted its position in shares of Devon Energy Corporation (NYSE:DVN) by 54.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 46,916 shares of the energy company’s stock after purchasing an additional 16,505 shares during the period. World Investment Advisors’ holdings in Devon Energy were worth $1,719,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of DVN. Woodline Partners LP lifted its holdings in Devon Energy by 98.8% in the 1st quarter. Woodline Partners LP now owns 115,780 shares of the energy company’s stock worth $4,330,000 after buying an additional 57,555 shares during the period. Sivia Capital Partners LLC purchased a new position in shares of Devon Energy during the second quarter valued at approximately $403,000. Jump Financial LLC increased its stake in shares of Devon Energy by 58.8% during the second quarter. Jump Financial LLC now owns 28,251 shares of the energy company’s stock valued at $899,000 after buying an additional 10,464 shares during the period. Daiwa Securities Group Inc. raised its holdings in shares of Devon Energy by 17.8% during the second quarter. Daiwa Securities Group Inc. now owns 148,882 shares of the energy company’s stock valued at $4,736,000 after acquiring an additional 22,482 shares in the last quarter. Finally, NewEdge Advisors LLC raised its holdings in shares of Devon Energy by 6.0% during the second quarter. NewEdge Advisors LLC now owns 144,174 shares of the energy company’s stock valued at $4,586,000 after acquiring an additional 8,127 shares in the last quarter. 69.72% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Jeffrey L. Ritenour sold 70,029 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $46.66, for a total value of $3,267,553.14. Following the sale, the executive vice president owned 428,452 shares in the company, valued at $19,991,570.32. This represents a 14.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Andrea Alexander sold 18,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $46.74, for a total value of $841,320.00. Following the transaction, the senior vice president directly owned 138,529 shares of the company’s stock, valued at approximately $6,474,845.46. This trade represents a 11.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 112,371 shares of company stock worth $5,258,059. Insiders own 4.58% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Citigroup raised their price target on Devon Energy from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, May 20th. Raymond James Financial decreased their price objective on shares of Devon Energy from $72.00 to $66.00 and set a “strong-buy” rating for the company in a report on Monday, June 15th. TD Cowen raised their target price on shares of Devon Energy from $46.00 to $50.00 and gave the stock a “hold” rating in a research report on Tuesday, March 17th. UBS Group dropped their target price on shares of Devon Energy from $60.00 to $58.00 and set a “buy” rating for the company in a research report on Wednesday, June 10th. Finally, Scotiabank lifted their target price on shares of Devon Energy from $41.00 to $46.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.44.

Devon Energy Stock Up 0.2%

NYSE:DVN opened at $42.21 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.01 and a quick ratio of 0.94. The firm’s 50-day moving average price is $46.38 and its 200-day moving average price is $43.31. The company has a market capitalization of $26.23 billion, a PE ratio of 11.76 and a beta of 0.37. Devon Energy Corporation has a 1-year low of $31.45 and a 1-year high of $52.71.

Devon Energy (NYSE:DVN) last issued its quarterly 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). Devon Energy had a net margin of 13.71% and a return on equity of 15.22%. The business had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $4.34 billion. During the same period last year, the business earned $0.82 earnings per share. The company’s revenue was down 14.5% on a year-over-year basis. On average, equities analysts predict that Devon Energy Corporation will post 4.97 EPS for the current fiscal year.

Devon Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a dividend of $0.32 per share. This is a positive change from Devon Energy’s previous quarterly dividend of $0.24. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Monday, June 15th. Devon Energy’s payout ratio is 35.65%.

Devon Energy Company Profile

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.