Devon Energy Corporation $DVN Shares Bought by Global Retirement Partners LLC

Global Retirement Partners LLC boosted its holdings in shares of Devon Energy Corporation (NYSE:DVN) by 144.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,963 shares of the energy company’s stock after acquiring an additional 11,204 shares during the quarter. Global Retirement Partners LLC’s holdings in Devon Energy were worth $695,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ameriflex Group Inc. increased its stake in Devon Energy by 702.0% during the third quarter. Ameriflex Group Inc. now owns 802 shares of the energy company’s stock worth $28,000 after acquiring an additional 702 shares during the last quarter. Accredited Wealth Management LLC increased its stake in Devon Energy by 61.6% during the third quarter. Accredited Wealth Management LLC now owns 808 shares of the energy company’s stock worth $28,000 after acquiring an additional 308 shares during the last quarter. Olistico Wealth LLC acquired a new stake in Devon Energy during the fourth quarter worth $31,000. Elyxium Wealth LLC acquired a new stake in Devon Energy during the fourth quarter worth $31,000. Finally, Neo Ivy Capital Management acquired a new stake in Devon Energy during the third quarter worth $31,000. Institutional investors and hedge funds own 69.72% of the company’s stock.

Insider Buying and Selling at Devon Energy

In related news, SVP Adam M. Vela sold 24,342 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was 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 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jeffrey L. Ritenour sold 70,029 shares of the business’s stock in a transaction 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 transaction, the executive vice president directly owned 428,452 shares of the company’s stock, valued at $19,991,570.32. The trade was a 14.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on DVN. Mizuho raised their target price on Devon Energy from $51.00 to $62.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 17th. UBS Group cut their target price on Devon Energy from $61.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, April 14th. Tudor Pickering raised Devon Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 20th. BMO Capital Markets raised their target price on Devon Energy from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. Finally, Wells Fargo & Company raised their target price on Devon Energy from $66.00 to $68.00 and gave the stock an “overweight” rating in a research note on Monday, May 18th. Four research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.63.

Devon Energy Trading Down 4.3%

Shares of NYSE DVN opened at $45.21 on Wednesday. Devon Energy Corporation has a twelve month low of $30.24 and a twelve month high of $52.71. The company has a current ratio of 1.01, a quick ratio of 0.94 and a debt-to-equity ratio of 0.48. The stock has a fifty day simple moving average of $48.14 and a 200-day simple moving average of $42.20. The stock has a market capitalization of $28.09 billion, a PE ratio of 12.59 and a beta of 0.43.

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 during the quarter, compared to analyst estimates of $4.34 billion. During the same period in the previous year, the firm posted $0.82 earnings per share. The company’s quarterly revenue was down 14.5% compared to the same quarter last year. On average, equities analysts forecast that Devon Energy Corporation will post 5.15 earnings per share for the current year.

Devon Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors 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 yield of 2.8%. The ex-dividend date of this dividend is Monday, June 15th. This is a positive change from Devon Energy’s previous quarterly dividend of $0.24. Devon Energy’s payout ratio is presently 26.74%.

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.