Devon Energy Corporation $DVN Shares Purchased by OneDigital Investment Advisors LLC

OneDigital Investment Advisors LLC increased its position in shares of Devon Energy Corporation (NYSE:DVN) by 173.9% during the second quarter, Holdings Channel reports. The institutional investor owned 39,262 shares of the energy company’s stock after buying an additional 24,930 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in Devon Energy were worth $1,622,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Woodline Partners LP boosted its holdings in shares of Devon Energy by 98.8% in the first quarter. Woodline Partners LP now owns 115,780 shares of the energy company’s stock valued at $4,330,000 after acquiring an additional 57,555 shares during the period. Sivia Capital Partners LLC acquired a new position in shares of Devon Energy in the 2nd quarter valued at $403,000. Jump Financial LLC raised its position in Devon Energy by 58.8% in the 2nd quarter. Jump Financial LLC now owns 28,251 shares of the energy company’s stock valued at $899,000 after purchasing an additional 10,464 shares during the last quarter. Daiwa Securities Group Inc. raised its position in Devon Energy by 17.8% in the 2nd quarter. Daiwa Securities Group Inc. now owns 148,882 shares of the energy company’s stock valued at $4,736,000 after purchasing an additional 22,482 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its stake in Devon Energy by 6.0% during the 2nd quarter. NewEdge Advisors LLC now owns 144,174 shares of the energy company’s stock worth $4,586,000 after purchasing an additional 8,127 shares during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Stock Up 3.9%

DVN stock opened at $47.62 on Tuesday. The stock has a market capitalization of $52.38 billion, a PE ratio of 11.31 and a beta of 0.38. The company has a fifty day moving average of $43.45 and a 200-day moving average of $45.24. 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 Corporation has a one year low of $31.47 and a one year high of $52.71.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results 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 business had revenue of $7.42 billion for the quarter, compared to analyst estimates of $6.01 billion. Devon Energy had a net margin of 16.67% and a return on equity of 14.93%. The business’s revenue was up 73.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.84 earnings per share. As a group, analysts expect that Devon Energy Corporation will post 4.99 EPS for the current year.

Devon Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Tuesday, September 15th. Devon Energy’s payout ratio is currently 30.40%.

Insider Transactions at Devon Energy

In other Devon Energy news, SVP Andrea Alexander sold 18,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $46.74, for a total transaction of $841,320.00. Following the transaction, the senior vice president owned 138,529 shares in the company, valued at approximately $6,474,845.46. The trade was a 11.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 4.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on DVN shares. Capital One Financial dropped their price objective on shares of Devon Energy from $63.00 to $61.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 2nd. Morgan Stanley lowered their price target on Devon Energy from $66.00 to $63.00 and set an “overweight” rating on the stock in a report on Friday, June 26th. Evercore upgraded Devon Energy from an “in-line” rating to an “outperform” rating and set a $54.00 price target on the stock in a research report on Wednesday, June 10th. Tudor Pickering raised Devon Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 20th. Finally, Roth Capital reaffirmed a “buy” rating and set a $57.00 price objective on shares of Devon Energy in a research report on Tuesday, April 28th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $59.15.

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.