Devon Energy Corporation (NYSE:DVN) Position Reduced by Wheatland Advisors Inc.

Wheatland Advisors Inc. lowered its position in shares of Devon Energy Corporation (NYSE:DVN) by 2.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,300 shares of the energy company’s stock after selling 300 shares during the period. Wheatland Advisors Inc.’s holdings in Devon Energy Corporation were worth $457,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Exencial Wealth Advisors LLC raised its stake in Devon Energy Corporation by 0.4% in the first quarter. Exencial Wealth Advisors LLC now owns 13,021 shares of the energy company’s stock worth $511,000 after buying an additional 46 shares in the last quarter. Park National Corp OH raised its stake in Devon Energy Corporation by 0.8% in the second quarter. Park National Corp OH now owns 6,779 shares of the energy company’s stock worth $217,000 after buying an additional 54 shares in the last quarter. Honkamp Krueger Financial Services Inc. raised its stake in Devon Energy Corporation by 1.4% in the second quarter. Honkamp Krueger Financial Services Inc. now owns 7,048 shares of the energy company’s stock worth $225,000 after buying an additional 96 shares in the last quarter. Fernwood Investment Management LLC raised its stake in Devon Energy Corporation by 1.4% in the first quarter. Fernwood Investment Management LLC now owns 7,200 shares of the energy company’s stock worth $300,000 after buying an additional 100 shares in the last quarter. Finally, Godshalk Welsh Capital Management Inc. raised its stake in Devon Energy Corporation by 1.0% in the first quarter. Godshalk Welsh Capital Management Inc. now owns 10,075 shares of the energy company’s stock worth $420,000 after buying an additional 100 shares in the last quarter. Institutional investors own 77.27% of the company’s stock.

Devon Energy Corporation (NYSE DVN) opened at 32.08 on Thursday. The company has a market capitalization of $16.87 billion, a price-to-earnings ratio of 7.19 and a beta of 2.17. The company has a 50 day moving average of $31.70 and a 200 day moving average of $38.00. Devon Energy Corporation has a 52 week low of $28.79 and a 52 week high of $50.69.

Devon Energy Corporation (NYSE:DVN) last announced its earnings results on Tuesday, August 1st. The energy company reported $0.34 EPS for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.01. The business had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.24 billion. Devon Energy Corporation had a net margin of 16.07% and a return on equity of 5.36%. The firm’s revenue was up 31.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.06 earnings per share. On average, equities analysts forecast that Devon Energy Corporation will post $1.73 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.24 dividend on an annualized basis and a yield of 0.75%. Devon Energy Corporation’s dividend payout ratio is presently 5.47%.

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A number of research firms recently commented on DVN. Credit Suisse Group upped their price target on shares of Devon Energy Corporation from $63.00 to $64.00 and gave the company an “outperform” rating in a report on Thursday, May 4th. BMO Capital Markets reiterated a “buy” rating and set a $42.00 price target on shares of Devon Energy Corporation in a report on Thursday, June 22nd. Scotiabank set a $49.00 price target on shares of Devon Energy Corporation and gave the company a “buy” rating in a report on Saturday, July 1st. Zacks Investment Research lowered shares of Devon Energy Corporation from a “hold” rating to a “sell” rating in a report on Friday, July 14th. Finally, Barclays PLC reiterated an “overweight” rating and set a $35.00 price target (up from $31.00) on shares of Devon Energy Corporation in a report on Wednesday. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Devon Energy Corporation currently has a consensus rating of “Buy” and a consensus target price of $47.71.

In other Devon Energy Corporation news, Director Robert H. Henry sold 7,045 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $33.35, for a total value of $234,950.75. Following the completion of the transaction, the director now directly owns 11,338 shares in the company, valued at $378,122.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.98% of the company’s stock.

Devon Energy Corporation Company Profile

Devon Energy Corporation is an independent energy company. The Company also controls EnLink Midstream Partners, L.P. (EnLink). The Company’s segments include U.S., Canada and EnLink. The Company is engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs).

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Institutional Ownership by Quarter for Devon Energy Corporation (NYSE:DVN)

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