Devon Energy Corporation $DVN Stock Holdings Raised by United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund grew its stake in Devon Energy Corporation (NYSE:DVN) by 112.7% during the second quarter, HoldingsChannel.com reports. The firm owned 275,600 shares of the energy company’s stock after purchasing an additional 146,000 shares during the period. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund’s holdings in Devon Energy were worth $11,388,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Tobam grew its stake in Devon Energy by 16.4% in the fourth quarter. Tobam now owns 1,633 shares of the energy company’s stock worth $60,000 after purchasing an additional 230 shares in the last quarter. TD Private Client Wealth LLC increased its holdings in Devon Energy by 3.4% in the fourth quarter. TD Private Client Wealth LLC now owns 7,152 shares of the energy company’s stock valued at $262,000 after buying an additional 236 shares during the last quarter. Retirement Planning Group LLC raised its stake in Devon Energy by 4.5% during the second quarter. Retirement Planning Group LLC now owns 5,647 shares of the energy company’s stock valued at $233,000 after buying an additional 243 shares in the last quarter. JFS Wealth Advisors LLC raised its stake in Devon Energy by 56.6% during the second quarter. JFS Wealth Advisors LLC now owns 678 shares of the energy company’s stock valued at $28,000 after buying an additional 245 shares in the last quarter. Finally, Catalyst Financial Partners LLC lifted its holdings in Devon Energy by 3.9% during the 4th quarter. Catalyst Financial Partners LLC now owns 6,712 shares of the energy company’s stock worth $246,000 after buying an additional 254 shares during the last quarter. Institutional investors own 69.72% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on DVN. Truist Financial lifted their target price on Devon Energy from $61.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Wells Fargo & Company dropped their price target on Devon Energy from $68.00 to $65.00 and set an “overweight” rating on the stock in a research report on Thursday. Zacks Research cut Devon Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 27th. Raymond James Financial decreased their price objective on shares of Devon Energy from $66.00 to $64.00 and set a “strong-buy” rating for the company in a report on Thursday, July 16th. Finally, UBS Group lowered their target price on shares of Devon Energy from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Wednesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $59.60.

Devon Energy Stock Performance

Shares of DVN stock opened at $45.83 on Monday. The company has a market cap of $50.41 billion, a P/E ratio of 10.89 and a beta of 0.38. The business has a 50 day moving average of $43.40 and a two-hundred day moving average of $45.18. Devon Energy Corporation has a 52 week low of $31.47 and a 52 week high of $52.71. The company has a quick ratio of 0.67, a current ratio of 0.72 and a debt-to-equity ratio of 0.24.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Tuesday, August 4th. The energy company reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.40 by $0.17. The business had revenue of $7.42 billion for the quarter, compared to analysts’ expectations of $6.01 billion. Devon Energy had a return on equity of 14.93% and a net margin of 16.67%.The business’s quarterly revenue was up 73.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.84 EPS. As a group, analysts anticipate that Devon Energy Corporation will post 4.99 EPS for the current year.

Devon Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a $0.32 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.28 annualized dividend and a yield of 2.8%. Devon Energy’s dividend payout ratio (DPR) is currently 30.40%.

Insiders Place Their Bets

In other Devon Energy news, SVP Andrea Alexander sold 18,000 shares of the firm’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $46.74, for a total value of $841,320.00. Following the sale, the senior vice president directly owned 138,529 shares in the company, valued at approximately $6,474,845.46. This trade represents a 11.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 4.58% of the stock is owned by corporate insiders.

Devon Energy Profile

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.