Vontobel Holding Ltd. Buys 12,124 Shares of Devon Energy Corporation $DVN

Vontobel Holding Ltd. boosted its stake in Devon Energy Corporation (NYSE:DVN) by 69.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,614 shares of the energy company’s stock after purchasing an additional 12,124 shares during the period. Vontobel Holding Ltd.’s holdings in Devon Energy were worth $1,363,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of DVN. Pension & Wealth Management Advisors Inc. boosted its stake in shares of Devon Energy by 29.5% during the third quarter. Pension & Wealth Management Advisors Inc. now owns 1,386 shares of the energy company’s stock valued at $64,000 after purchasing an additional 316 shares during the period. Goelzer Investment Management Inc. increased its stake in shares of Devon Energy by 1.8% in the third quarter. Goelzer Investment Management Inc. now owns 30,611 shares of the energy company’s stock worth $1,409,000 after buying an additional 548 shares during the period. Annex Advisory Services LLC purchased a new position in shares of Devon Energy in the third quarter worth $911,000. Cantor Fitzgerald Investment Advisors L.P. increased its stake in shares of Devon Energy by 2.2% in the third quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 295,754 shares of the energy company’s stock worth $13,617,000 after buying an additional 6,341 shares during the period. Finally, V Square Quantitative Management LLC raised its holdings in Devon Energy by 10.3% during the 3rd quarter. V Square Quantitative Management LLC now owns 11,878 shares of the energy company’s stock valued at $547,000 after buying an additional 1,110 shares during the last quarter. 69.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. The Goldman Sachs Group dropped their price target on shares of Devon Energy from $54.00 to $53.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Morgan Stanley raised their price target on shares of Devon Energy from $63.00 to $65.00 and gave the stock an “overweight” rating in a report on Thursday. Stifel Nicolaus assumed coverage on shares of Devon Energy in a research report on Thursday, September 10th. They issued a “buy” rating and a $61.00 price objective on the stock. Truist Financial decreased their price objective on shares of Devon Energy from $65.00 to $61.00 and set a “buy” rating on the stock in a research report on Wednesday, October 7th. Finally, Susquehanna upped their price objective on shares of Devon Energy from $57.00 to $63.00 and gave the company a “positive” rating in a research note on Tuesday, July 21st. Two analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Devon Energy has an average rating of “Moderate Buy” and an average target price of $60.72.

Devon Energy Trading Up 0.5%

NYSE DVN opened at $50.96 on Tuesday. The stock has a market cap of $56.06 billion, a P/E ratio of 12.10, a price-to-earnings-growth ratio of 1.34 and a beta of 0.49. Devon Energy Corporation has a fifty-two week low of $31.47 and a fifty-two week high of $52.71. The stock has a 50 day simple moving average of $48.18 and a two-hundred day simple moving average of $46.29. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.67 and a current ratio of 0.72.

Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, August 4th. The energy company reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.17. Devon Energy had a return on equity of 14.93% and a net margin of 16.67%. The firm had revenue of $7.42 billion for the quarter, compared to analysts’ expectations of $6.01 billion. The business’s revenue was up 73.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.84 earnings per share. On average, analysts forecast that Devon Energy Corporation will post 5.39 earnings per share for the current year.

Devon Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were paid a $0.32 dividend. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $1.28 dividend on an annualized basis and a yield of 2.5%. Devon Energy’s dividend payout ratio (DPR) is presently 30.40%.

Insider Buying and Selling at Devon Energy

In other news, EVP Robert Ferrall Lowe III sold 6,756 shares of Devon Energy stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $50.95, for a total transaction of $344,218.20. Following the sale, the executive vice president owned 72,720 shares of the company’s stock, valued at approximately $3,705,084. The trade was a 8.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Clay Gaspar acquired 3,913 shares of the business’s stock in a transaction on Monday, September 14th. The shares were purchased at an average cost of $51.08 per share, for a total transaction of $199,876.04. Following the completion of the transaction, the chief executive officer owned 619,152 shares in the company, valued at approximately $31,626,284.16. This represents a 0.64% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 4.58% of the company’s stock.

Devon Energy Profile

Devon Energy Corporation (NYSE:DVN) is an independent energy company engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids. The company focuses on onshore operations in the United States and markets the hydrocarbons produced from its assets to customers across the energy sector.

Devon’s portfolio has historically included major U.S. resource plays such as the Delaware Basin in the Permian Basin, the Eagle Ford, the Anadarko Basin, the Williston Basin and the Powder River Basin.