Devon Energy Corporation $DVN Shares Acquired by Great Lakes Retirement Inc.

by · The Cerbat Gem

Great Lakes Retirement Inc. grew its holdings in shares of Devon Energy Corporation (NYSE:DVN – Free Report) by 2.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 421,560 shares of the energy company’s stock after buying an additional 9,426 shares during the quarter. Devon Energy accounts for 1.6% of Great Lakes Retirement Inc.’s portfolio, making the stock its 14th largest position. Great Lakes Retirement Inc. owned about 0.07% of Devon Energy worth $13,410,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of DVN. Mather Group LLC. grew its stake in Devon Energy by 193.1% during the first quarter. Mather Group LLC. now owns 4,781 shares of the energy company’s stock worth $179,000 after buying an additional 3,150 shares during the period. WCM Investment Management LLC grew its stake in Devon Energy by 7.9% during the first quarter. WCM Investment Management LLC now owns 48,535 shares of the energy company’s stock worth $1,784,000 after buying an additional 3,536 shares during the period. Oregon Public Employees Retirement Fund grew its stake in Devon Energy by 2.7% during the first quarter. Oregon Public Employees Retirement Fund now owns 57,889 shares of the energy company’s stock worth $2,165,000 after buying an additional 1,530 shares during the period. D.A. Davidson & CO. grew its stake in Devon Energy by 70.8% during the first quarter. D.A. Davidson & CO. now owns 341,790 shares of the energy company’s stock worth $12,783,000 after buying an additional 141,688 shares during the period. Finally, 44 Wealth Management LLC grew its stake in Devon Energy by 31.5% during the first quarter. 44 Wealth Management LLC now owns 35,944 shares of the energy company’s stock worth $1,344,000 after buying an additional 8,605 shares during the period. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on DVN shares. Piper Sandler decreased their price objective on shares of Devon Energy from $58.00 to $57.00 and set an “overweight” rating for the company in a research note on Thursday, August 14th. UBS Group boosted their target price on shares of Devon Energy from $37.00 to $40.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 20th. Wells Fargo & Company reduced their target price on shares of Devon Energy from $43.00 to $37.00 and set an “overweight” rating on the stock in a research report on Friday, October 17th. The Goldman Sachs Group reduced their target price on shares of Devon Energy from $41.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, October 15th. Finally, Jefferies Financial Group boosted their target price on shares of Devon Energy from $31.00 to $33.00 and gave the stock a “hold” rating in a research report on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $43.14.

Read Our Latest Stock Report on Devon Energy

Devon Energy Trading Up 1.5%

DVN opened at $32.51 on Friday. The stock has a market capitalization of $20.63 billion, a PE ratio of 7.29, a P/E/G ratio of 2.49 and a beta of 1.03. The firm’s fifty day moving average price is $34.27 and its 200 day moving average price is $33.13. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.22 and a quick ratio of 1.13. Devon Energy Corporation has a 12-month low of $25.89 and a 12-month high of $40.54.

Devon Energy (NYSE:DVN – Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The energy company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.01. The firm had revenue of $4.28 billion for the quarter, compared to analysts’ expectations of $4.01 billion. Devon Energy had a net margin of 16.57% and a return on equity of 18.59%. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.41 earnings per share. As a group, research analysts expect that Devon Energy Corporation will post 4.85 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were issued a $0.24 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $0.96 annualized dividend and a yield of 3.0%. Devon Energy’s dividend payout ratio is currently 21.52%.

Insider Transactions at Devon Energy

In related news, Director Kelt Kindick sold 7,685 shares of the company’s stock in a transaction on Monday, August 11th. The shares were sold at an average price of $33.46, for a total value of $257,140.10. Following the sale, the director directly owned 31,801 shares of the company’s stock, valued at $1,064,061.46. This represents a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.71% of the stock is owned by corporate insiders.

About Devon Energy

(Free Report)

Devon Energy Corporation, an independent energy company, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Eagle Ford, Anadarko, Williston, and Powder River Basins. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.

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