Corient Private Wealth LLC Buys 13,124 Shares of Devon Energy Corporation $DVN

Corient Private Wealth LLC increased its stake in shares of Devon Energy Corporation (NYSE:DVN) by 12.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 116,073 shares of the energy company’s stock after buying an additional 13,124 shares during the period. Corient Private Wealth LLC’s holdings in Devon Energy were worth $4,253,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in DVN. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in Devon Energy in the fourth quarter valued at approximately $25,000. MV Capital Management Inc. purchased a new stake in Devon Energy in the fourth quarter worth $29,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of Devon Energy in the fourth quarter valued at $29,000. Ameriflex Group Inc. raised its stake in shares of Devon Energy by 702.0% in 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 period. Finally, Accredited Wealth Management LLC increased its stake in shares of Devon Energy by 61.6% in the third quarter. Accredited Wealth Management LLC now owns 808 shares of the energy company’s stock worth $28,000 after purchasing an additional 308 shares in the last quarter. Institutional investors own 69.72% of the company’s stock.

Insider Buying and Selling

In other Devon Energy news, SVP Adam M. Vela sold 24,342 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $47.21, for a total transaction of $1,149,185.82. Following the completion of the transaction, the senior vice president owned 130,540 shares of the company’s stock, valued at approximately $6,162,793.40. This trade represents a 15.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Andrea Alexander sold 18,000 shares of the business’s stock in a transaction that occurred on 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 sale, the senior vice president directly owned 138,529 shares in the company, valued at approximately $6,474,845.46. This represents a 11.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 112,371 shares of company stock valued at $5,258,059 over the last quarter. Corporate insiders own 4.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on DVN. Jefferies Financial Group upped their price target on shares of Devon Energy from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Monday, May 18th. Truist Financial lifted their price objective on shares of Devon Energy from $63.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, June 1st. UBS Group lowered their target price on shares of Devon Energy from $60.00 to $58.00 and set a “buy” rating on the stock in a report on Wednesday, June 10th. Capital One Financial dropped their target price on Devon Energy from $63.00 to $61.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 2nd. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Devon Energy in a report on Wednesday, June 10th. Three research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Devon Energy presently has a consensus rating of “Moderate Buy” and an average target price of $58.96.

Key Headlines Impacting Devon Energy

Here are the key news stories impacting Devon Energy this week:

• Positive Sentiment: Goldman Sachs upgraded Devon Energy to strong-buy, which can boost sentiment by signaling greater confidence in the company’s outlook. Zacks.com
• Positive Sentiment: Analyst and investor coverage continues to point to Devon as an attractive E&P name, with commentary noting cheaper valuation, a higher yield, and stronger return on equity than Diamondback Energy. Devon or Diamondback: Which E&P Stock Is the Better Investment?
• Positive Sentiment: Wall Street coverage has highlighted bullish hedge fund positioning and meaningful upside potential, reinforcing the view that DVN remains a value-and-income play for investors. What Does Wall Street Say About Devon Energy (DVN)?
• Neutral Sentiment: Devon has been among the more searched stocks on Zacks, which suggests rising investor attention but does not by itself change fundamentals. Investors Heavily Search Devon Energy Corporation (DVN): Here is What You Need to Know
• Neutral Sentiment: Devon completed a note exchange that simplifies its capital structure, a generally positive balance-sheet move, though the immediate stock impact is likely limited. Devon Energy Simplifies Capital Structure With Note Exchange
• Negative Sentiment: Toms Capital taking a top-five stake adds activist pressure for operational improvements and potential asset sales, increasing uncertainty around Devon’s post-merger strategy and capital allocation. Devon Energy (DVN) Faces Fresh Activist Pressure As Toms Capital Takes Top Five Stake

Devon Energy Trading Down 1.0%

NYSE DVN opened at $42.18 on Friday. The stock has a market cap of $26.21 billion, a P/E ratio of 11.75 and a beta of 0.37. Devon Energy Corporation has a fifty-two week low of $31.45 and a fifty-two week high of $52.71. The stock has a 50 day simple moving average of $45.99 and a two-hundred day simple moving average of $43.49. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.94 and a current ratio of 1.01.

Devon Energy (NYSE:DVN) last released its earnings results on Tuesday, May 5th. The energy company reported $1.04 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 firm had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $4.34 billion. During the same quarter in the previous year, the business earned $0.82 EPS. The company’s revenue for the quarter was down 14.5% compared to the same quarter last year. On average, analysts forecast that Devon Energy Corporation will post 4.97 earnings per share for the current year.

Devon Energy Increases Dividend

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