Sigma Planning Corp lifted its position in Devon Energy Co. (NYSE:DVN – Get Rating) by 2.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,548 shares of the energy company’s stock after acquiring an additional 1,726 shares during the period. Sigma Planning Corp’s holdings in Devon Energy were worth $4,112,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently modified their holdings of DVN. Gotham Asset Management LLC boosted its stake in Devon Energy by 1.0% during the fourth quarter. Gotham Asset Management LLC now owns 18,612 shares of the energy company’s stock worth $820,000 after buying an additional 187 shares during the last quarter. Triton Wealth Management PLLC raised its position in Devon Energy by 1.4% in the fourth quarter. Triton Wealth Management PLLC now owns 15,094 shares of the energy company’s stock valued at $783,000 after purchasing an additional 212 shares during the period. Center for Financial Planning Inc. raised its position in Devon Energy by 4.0% in the fourth quarter. Center for Financial Planning Inc. now owns 5,560 shares of the energy company’s stock valued at $245,000 after purchasing an additional 214 shares during the period. Evergreen Capital Management LLC raised its position in Devon Energy by 3.8% in the fourth quarter. Evergreen Capital Management LLC now owns 6,148 shares of the energy company’s stock valued at $271,000 after purchasing an additional 223 shares during the period. Finally, Dumont & Blake Investment Advisors LLC raised its position in Devon Energy by 0.9% in the fourth quarter. Dumont & Blake Investment Advisors LLC now owns 27,540 shares of the energy company’s stock valued at $1,213,000 after purchasing an additional 240 shares during the period. 87.01% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Kelt Kindick sold 9,049 shares of the firm’s stock in a transaction that occurred on Friday, May 6th. The stock was sold at an average price of $68.03, for a total value of $615,603.47. Following the completion of the transaction, the director now directly owns 42,590 shares of the company’s stock, valued at approximately $2,897,397.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Dennis C. Cameron sold 4,143 shares of the firm’s stock in a transaction that occurred on Monday, April 4th. The shares were sold at an average price of $61.45, for a total value of $254,587.35. Following the completion of the transaction, the executive vice president now directly owns 284,806 shares of the company’s stock, valued at $17,501,328.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 64,922 shares of company stock valued at $4,269,519. Company insiders own 0.80% of the company’s stock.
A number of equity research analysts have commented on DVN shares. Susquehanna Bancshares raised their target price on Devon Energy from $62.00 to $73.00 in a research report on Monday, April 25th. Wells Fargo & Company boosted their price objective on Devon Energy from $53.00 to $73.00 and gave the company an “overweight” rating in a report on Monday, March 14th. Morgan Stanley boosted their price objective on Devon Energy from $54.00 to $68.00 and gave the company an “equal weight” rating in a report on Friday, April 22nd. Truist Financial raised their price target on Devon Energy from $100.00 to $103.00 and gave the stock a “buy” rating in a report on Thursday, June 9th. Finally, Credit Suisse Group raised their price target on Devon Energy from $75.00 to $82.00 and gave the stock an “outperform” rating in a report on Thursday, June 9th. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.94.
DVN opened at $55.11 on Friday. The business has a 50 day moving average price of $66.43 and a two-hundred day moving average price of $58.00. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.69. The company has a market cap of $36.37 billion, a PE ratio of 10.34 and a beta of 2.59. Devon Energy Co. has a 52 week low of $24.05 and a 52 week high of $79.40.
Devon Energy (NYSE:DVN – Get Rating) last posted its quarterly earnings data on Monday, May 2nd. The energy company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.74 by $0.14. The firm had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $4.02 billion. Devon Energy had a return on equity of 36.57% and a net margin of 25.69%. During the same period in the previous year, the business earned $0.45 EPS. As a group, sell-side analysts expect that Devon Energy Co. will post 9.1 EPS for the current fiscal year.
Devon Energy declared that its board has authorized a stock repurchase plan on Monday, May 2nd that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the energy company to purchase up to 4.7% of its shares through open market purchases. Share repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Monday, June 13th were paid a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 9.22%. This is an increase from Devon Energy’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Friday, June 10th. Devon Energy’s dividend payout ratio is 95.31%.
Devon Energy Profile: (Get Rating)
Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates approximately 5,134 gross wells. Devon Energy Corporation was incorporated in 1971 and is headquartered in Oklahoma City, Oklahoma.
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