Devon Energy Corporation $DVN Shares Bought by Investment Advisory Services Inc. TX ADV

Investment Advisory Services Inc. TX ADV lifted its stake in Devon Energy Corporation (NYSE:DVN) by 590.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 85,250 shares of the energy company’s stock after purchasing an additional 72,910 shares during the period. Devon Energy makes up 1.0% of Investment Advisory Services Inc. TX ADV’s investment portfolio, making the stock its 24th largest holding. Investment Advisory Services Inc. TX ADV’s holdings in Devon Energy were worth $3,523,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. LSV Asset Management lifted its position in Devon Energy by 79.6% during the 4th quarter. LSV Asset Management now owns 799,587 shares of the energy company’s stock worth $29,289,000 after buying an additional 354,500 shares in the last quarter. Morningstar Investment Management LLC bought a new position in shares of Devon Energy in the fourth quarter worth about $2,089,000. Kimmeridge Energy Management Company LLC raised its stake in shares of Devon Energy by 56.5% in the fourth quarter. Kimmeridge Energy Management Company LLC now owns 8,850,790 shares of the energy company’s stock worth $324,204,000 after acquiring an additional 3,195,862 shares during the last quarter. Illinois Municipal Retirement Fund lifted its position in shares of Devon Energy by 15.5% during the first quarter. Illinois Municipal Retirement Fund now owns 194,773 shares of the energy company’s stock worth $9,801,000 after purchasing an additional 26,209 shares in the last quarter. Finally, NewEdge Wealth LLC grew its stake in shares of Devon Energy by 20.0% during the first quarter. NewEdge Wealth LLC now owns 479,681 shares of the energy company’s stock valued at $24,138,000 after purchasing an additional 80,000 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on DVN. BMO Capital Markets reissued an “outperform” rating on shares of Devon Energy in a research note on Wednesday, June 10th. UBS Group lowered their price target on Devon Energy from $58.00 to $54.00 and set a “buy” rating for the company in a report on Wednesday, July 15th. Argus raised their target price on shares of Devon Energy from $51.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, June 10th. Zacks Research cut shares of Devon Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 27th. Finally, Jefferies Financial Group lifted their price target on Devon Energy from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Monday, May 18th. Two research 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. Based on data from MarketBeat, Devon Energy presently has a consensus rating of “Moderate Buy” and an average target price of $59.60.

Insiders Place Their Bets

In other Devon Energy news, SVP Andrea Alexander sold 18,000 shares of Devon Energy stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $46.74, for a total transaction of $841,320.00. Following the completion of the sale, the senior vice president owned 138,529 shares of the company’s stock, valued at $6,474,845.46. The trade was a 11.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.58% of the stock is owned by insiders.

Devon Energy Trading Down 1.2%

Shares of DVN opened at $44.87 on Thursday. Devon Energy Corporation has a fifty-two week low of $31.47 and a fifty-two week high of $52.71. The business has a 50-day moving average of $43.40 and a 200 day moving average of $45.09. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.67 and a current ratio of 0.72. The firm has a market cap of $27.88 billion, a P/E ratio of 10.66 and a beta of 0.38.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, August 4th. The energy company reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.40 by $0.17. The company had revenue of $7.42 billion for the quarter, compared to the consensus estimate of $6.01 billion. Devon Energy had a return on equity of 14.93% and a net margin of 16.67%.The firm’s revenue was up 73.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.84 earnings per share. As a group, research analysts forecast that Devon Energy Corporation will post 4.91 EPS for the current year.

Devon Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Tuesday, September 15th. Devon Energy’s payout ratio is currently 30.40%.

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.