Devon Energy (NYSE:DVN) SVP Andrea Alexander Sells 18,000 Shares

Devon Energy Corporation (NYSE:DVN) SVP Andrea Alexander sold 18,000 shares of the company’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $46.74, for a total value of $841,320.00. Following the completion of the sale, the senior vice president directly owned 138,529 shares of the company’s stock, valued at $6,474,845.46. The trade was a 11.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Devon Energy Price Performance

Shares of NYSE DVN opened at $45.26 on Friday. Devon Energy Corporation has a 1-year low of $31.45 and a 1-year high of $52.71. The business has a 50-day moving average of $47.04 and a 200-day moving average of $43.09. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.01 and a quick ratio of 0.94. The company has a market capitalization of $28.13 billion, a price-to-earnings ratio of 12.61 and a beta of 0.37.

Devon Energy (NYSE:DVN) last issued its earnings results on Tuesday, May 5th. The energy company reported $1.04 earnings per share for the quarter, missing the consensus estimate of $1.06 by ($0.02). Devon Energy had a return on equity of 15.22% and a net margin of 13.71%.The company had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $4.34 billion. During the same period in the previous year, the company earned $0.82 EPS. Devon Energy’s quarterly revenue was down 14.5% on a year-over-year basis. On average, equities analysts anticipate that Devon Energy Corporation will post 4.72 EPS for the current fiscal year.

Devon Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a $0.32 dividend. 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. This represents a $1.28 annualized dividend and a dividend yield of 2.8%. Devon Energy’s dividend payout ratio (DPR) is currently 26.74%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of DVN. Pacer Advisors Inc. lifted its holdings in Devon Energy by 2,108.0% during the 4th quarter. Pacer Advisors Inc. now owns 6,386,921 shares of the energy company’s stock worth $233,953,000 after buying an additional 6,097,658 shares during the last quarter. Panagora Asset Management Inc. lifted its holdings in Devon Energy by 42,376.5% during the 4th quarter. Panagora Asset Management Inc. now owns 3,609,228 shares of the energy company’s stock worth $132,206,000 after buying an additional 3,600,731 shares during the last quarter. Kimmeridge Energy Management Company LLC lifted its holdings in Devon Energy by 56.5% during the 4th quarter. Kimmeridge Energy Management Company LLC now owns 8,850,790 shares of the energy company’s stock worth $324,204,000 after buying an additional 3,195,862 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Devon Energy by 78.7% during the 2nd quarter. AQR Capital Management LLC now owns 6,360,499 shares of the energy company’s stock worth $202,327,000 after buying an additional 2,802,137 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Devon Energy by 92.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 5,180,682 shares of the energy company’s stock worth $260,692,000 after buying an additional 2,485,603 shares during the last quarter. Institutional investors own 69.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Piper Sandler increased their price target on Devon Energy from $59.00 to $67.00 and gave the company an “overweight” rating in a report on Thursday, March 12th. Mizuho increased their price target on Devon Energy from $62.00 to $68.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. Barclays increased their price target on Devon Energy from $54.00 to $62.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Raymond James Financial raised Devon Energy from an “outperform” rating to a “strong-buy” rating and set a $72.00 price target for the company in a report on Tuesday, May 5th. Finally, Jefferies Financial Group increased their price target on Devon Energy from $62.00 to $63.00 and gave the company a “buy” rating in a report on Monday, May 18th. Two analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Devon Energy presently has a consensus rating of “Moderate Buy” and an average target price of $58.67.

About Devon Energy

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.