Devon Energy Corporation $DVN Holdings Trimmed by Inceptionr LLC

Inceptionr LLC reduced its holdings in Devon Energy Corporation (NYSE:DVN) by 75.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,329 shares of the energy company’s stock after selling 13,154 shares during the period. Inceptionr LLC’s holdings in Devon Energy were worth $218,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of DVN. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in Devon Energy in the fourth quarter valued at approximately $25,000. Garton & Associates Financial Advisors LLC bought a new stake in Devon Energy in the fourth quarter worth approximately $29,000. MV Capital Management Inc. acquired a new position in shares of Devon Energy during the 4th quarter worth $29,000. Elyxium Wealth LLC acquired a new position in shares of Devon Energy during the 4th quarter worth $31,000. Finally, DV Equities LLC bought a new position in shares of Devon Energy during the 4th quarter valued at $32,000. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Insider Activity at Devon Energy

In other Devon Energy news, SVP Adam M. Vela sold 24,342 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $47.21, for a total value of $1,149,185.82. Following the completion of the transaction, the senior vice president directly owned 130,540 shares of the company’s stock, valued at approximately $6,162,793.40. The trade was a 15.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Andrea Alexander sold 18,000 shares of the business’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $46.74, for a total value of $841,320.00. Following the completion of the transaction, the senior vice president directly owned 138,529 shares of the company’s stock, valued at approximately $6,474,845.46. The trade was a 11.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 112,371 shares of company stock worth $5,258,059 in the last quarter. Corporate insiders own 4.58% of the company’s stock.

Devon Energy Stock Down 1.0%

NYSE:DVN opened at $42.72 on Wednesday. The company has a market cap of $26.55 billion, a price-to-earnings ratio of 11.90 and a beta of 0.38. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.94 and a current ratio of 1.01. The stock’s fifty day moving average price is $43.82 and its two-hundred day moving average price is $44.51. Devon Energy Corporation has a 52-week low of $31.47 and a 52-week high of $52.71.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data 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 firm had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $4.34 billion. During the same period in the prior year, the firm posted $0.82 earnings per share. The business’s revenue for the quarter was down 14.5% compared to the same quarter last year. On average, analysts anticipate that Devon Energy Corporation will post 4.64 EPS for the current year.

Devon Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were issued a $0.32 dividend. This is a positive change from Devon Energy’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.28 annualized dividend and a dividend yield of 3.0%. Devon Energy’s dividend payout ratio (DPR) is presently 35.65%.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Royal Bank Of Canada upped their price target on Devon Energy from $46.00 to $59.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 8th. Truist Financial cut their price objective on Devon Energy from $66.00 to $61.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Zacks Research lowered Devon Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 27th. Tudor Pickering upgraded Devon Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, April 20th. Finally, Barclays upped their target price on Devon Energy from $54.00 to $62.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Devon Energy has an average rating of “Moderate Buy” and an average target price of $59.56.

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.