5,083 Shares in Devon Energy Corporation $DVN Bought by Family Legacy Financial Solutions LLC

by · The Cerbat Gem

Family Legacy Financial Solutions LLC bought a new stake in Devon Energy Corporation (NYSE:DVN – Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 5,083 shares of the energy company’s stock, valued at approximately $162,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. NorthCrest Asset Manangement LLC acquired a new position in Devon Energy during the second quarter worth about $327,000. Wealth Enhancement Advisory Services LLC grew its stake in Devon Energy by 6.1% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 2,029,369 shares of the energy company’s stock valued at $67,436,000 after acquiring an additional 116,481 shares in the last quarter. Atticus Wealth Management LLC grew its stake in Devon Energy by 4,461.0% during the 2nd quarter. Atticus Wealth Management LLC now owns 4,561 shares of the energy company’s stock valued at $145,000 after acquiring an additional 4,461 shares in the last quarter. Wedmont Private Capital lifted its holdings in shares of Devon Energy by 39.8% during the 2nd quarter. Wedmont Private Capital now owns 10,771 shares of the energy company’s stock valued at $373,000 after buying an additional 3,066 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Devon Energy by 3.1% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 127,767 shares of the energy company’s stock valued at $4,064,000 after buying an additional 3,800 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors.

Devon Energy Stock Up 1.2%

Shares of Devon Energy stock opened at $35.40 on Thursday. The business’s 50 day simple moving average is $33.95 and its 200 day simple moving average is $33.13. Devon Energy Corporation has a 52-week low of $25.89 and a 52-week high of $43.29. The firm has a market cap of $22.47 billion, a PE ratio of 7.94, a P/E/G ratio of 2.03 and a beta of 1.09. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.22.

Devon Energy (NYSE:DVN – Get Free Report) last announced its earnings results on Tuesday, August 5th. The energy company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.01. Devon Energy had a return on equity of 18.59% and a net margin of 16.57%.The business had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same quarter last year, the firm earned $1.41 EPS. Devon Energy’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, analysts predict that Devon Energy Corporation will post 4.85 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.96 annualized dividend and a dividend yield of 2.7%. Devon Energy’s payout ratio is 21.52%.

Insider Buying and Selling at Devon Energy

In other Devon Energy news, Director Kelt Kindick sold 7,685 shares of the business’s stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $33.46, for a total transaction of $257,140.10. Following the transaction, the director owned 31,801 shares of the company’s stock, valued at $1,064,061.46. The trade was a 19.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.71% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on DVN. Wells Fargo & Company boosted their target price on Devon Energy from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Tuesday, August 12th. Siebert Williams Shank boosted their price objective on Devon Energy from $47.00 to $52.00 and gave the company a “buy” rating in a research report on Monday, June 23rd. UBS Group upped their price target on Devon Energy from $37.00 to $40.00 and gave the company a “neutral” rating in a research report on Wednesday, August 20th. Raymond James Financial reiterated an “outperform” rating and issued a $45.00 price target (up from $40.00) on shares of Devon Energy in a research report on Tuesday, July 22nd. Finally, William Blair began coverage on Devon Energy in a report on Monday, August 25th. They set an “outperform” rating on the stock. Sixteen investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $44.04.

View Our Latest Research Report on Devon Energy

Devon Energy Profile

(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.

Featured Articles

Want to see what other hedge funds are holding DVN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Devon Energy Corporation (NYSE:DVN – Free Report).