Childress Capital Advisors LLC Sells 26,558 Shares of Devon Energy Corporation $DVN

Childress Capital Advisors LLC trimmed its stake in Devon Energy Corporation (NYSE:DVN) by 62.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,731 shares of the energy company’s stock after selling 26,558 shares during the quarter. Childress Capital Advisors LLC’s holdings in Devon Energy were worth $792,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in Devon Energy during the 4th quarter valued at about $25,000. MV Capital Management Inc. purchased a new stake in shares of Devon Energy during the fourth quarter valued at approximately $29,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of Devon Energy during the fourth quarter valued at approximately $29,000. Ameriflex Group Inc. increased its position 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 acquiring an additional 702 shares in the last quarter. Finally, Steigerwald Gordon & Koch Inc. raised its holdings in Devon Energy by 6,666.7% in the 1st quarter. Steigerwald Gordon & Koch Inc. now owns 812 shares of the energy company’s stock worth $41,000 after acquiring an additional 800 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Devon Energy

In other news, SVP Andrea Alexander sold 18,000 shares of the firm’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 of the company’s stock, valued at $6,474,845.46. This trade represents a 11.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Adam M. Vela sold 24,342 shares of Devon Energy stock in a transaction that occurred on 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 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 position. The SEC filing for this sale provides additional information. Insiders have sold a total of 112,371 shares of company stock worth $5,258,059 over the last ninety days. Company insiders own 4.58% of the company’s stock.

Devon Energy Price Performance

Shares of Devon Energy stock opened at $42.47 on Wednesday. Devon Energy Corporation has a 52 week low of $31.45 and a 52 week high of $52.71. The company has a quick ratio of 0.94, a current ratio of 1.01 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $26.39 billion, a price-to-earnings ratio of 11.83 and a beta of 0.38. The stock’s 50-day simple moving average is $45.26 and its 200-day simple moving average is $43.73.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, May 5th. The energy company reported $1.04 earnings per share 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 for 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% on a year-over-year basis. As a group, analysts expect that Devon Energy Corporation will post 4.85 earnings per share for the current fiscal year.

Devon Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Monday, June 15th. This is an increase from Devon Energy’s previous quarterly dividend of $0.24. This represents a $1.28 annualized dividend and a yield of 3.0%. Devon Energy’s payout ratio is presently 35.65%.

Analysts Set New Price Targets

Several analysts have commented on the company. Truist Financial increased their target price on Devon Energy from $63.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, June 1st. Evercore upgraded Devon Energy from an “in-line” rating to an “outperform” rating and set a $54.00 price target for the company in a research note on Wednesday, June 10th. Zacks Research downgraded Devon Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 27th. Wall Street Zen downgraded Devon Energy from a “buy” rating to a “hold” rating in a report on Sunday, June 21st. Finally, Royal Bank Of Canada boosted their target price on Devon Energy from $46.00 to $59.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 8th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.04.

Devon Energy 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.