Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its holdings in Devon Energy Co. (NYSE:DVN – Free Report) by 257.3% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 4,245 shares of the energy company’s stock after buying an additional 3,057 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC’s holdings in Devon Energy were worth $215,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of DVN. Tyler Stone Wealth Management bought a new position in shares of Devon Energy during the 4th quarter valued at about $25,000. Clearview Wealth Advisors LLC bought a new position in shares of Devon Energy during the 1st quarter valued at about $25,000. Canada Pension Plan Investment Board bought a new position in shares of Devon Energy during the 1st quarter valued at about $26,000. Fortis Capital Advisors LLC bought a new position in shares of Devon Energy during the 4th quarter valued at about $31,000. Finally, Manchester Capital Management LLC boosted its holdings in shares of Devon Energy by 132.5% during the 4th quarter. Manchester Capital Management LLC now owns 520 shares of the energy company’s stock valued at $32,000 after purchasing an additional 2,120 shares during the last quarter. Hedge funds and other institutional investors own 71.00% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts recently commented on the stock. Piper Sandler lowered their price target on shares of Devon Energy from $72.00 to $65.00 and set an “overweight” rating for the company in a report on Monday, August 14th. StockNews.com assumed coverage on shares of Devon Energy in a research note on Thursday. They issued a “sell” rating for the company. Bank of America decreased their price objective on shares of Devon Energy from $67.00 to $60.00 in a research note on Tuesday, May 9th. The Goldman Sachs Group raised shares of Devon Energy from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $63.00 to $58.00 in a research note on Tuesday, June 13th. Finally, Mizuho decreased their price objective on shares of Devon Energy from $65.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, August 16th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.05.
Insider Buying and Selling at Devon Energy
In other Devon Energy news, EVP Dennis C. Cameron sold 7,870 shares of the company’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $51.13, for a total value of $402,393.10. Following the sale, the executive vice president now directly owns 210,548 shares of the company’s stock, valued at $10,765,319.24. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.63% of the stock is owned by corporate insiders.
Devon Energy Price Performance
Shares of DVN opened at $49.99 on Monday. The firm has a market capitalization of $32.03 billion, a PE ratio of 6.84, a price-to-earnings-growth ratio of 0.18 and a beta of 2.32. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.98 and a quick ratio of 0.90. Devon Energy Co. has a 1-year low of $44.03 and a 1-year high of $78.82. The company’s fifty day moving average price is $50.03 and its 200-day moving average price is $51.41.
Devon Energy (NYSE:DVN – Get Free Report) last announced its quarterly earnings data on Tuesday, August 1st. The energy company reported $1.18 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.18. Devon Energy had a net margin of 28.10% and a return on equity of 37.89%. The firm had revenue of $3.45 billion for the quarter, compared to analyst estimates of $3.26 billion. During the same period in the previous year, the company earned $2.59 earnings per share. The business’s quarterly revenue was down 38.6% compared to the same quarter last year. On average, equities research analysts predict that Devon Energy Co. will post 5.55 EPS for the current year.
Devon Energy Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 3.92%. The ex-dividend date is Thursday, September 14th. Devon Energy’s payout ratio is 10.94%.
About Devon Energy
Devon Energy Corporation, an independent energy company, explores for, develops, and produces oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Anadarko, Williston, Eagle Ford, and Powder River Basin. The company was incorporated in 1971 and is headquartered in Oklahoma City, Oklahoma.
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