Devon Energy Co. (NYSE:DVN) Shares Bought by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC lifted its holdings in shares of Devon Energy Co. (NYSE:DVN) by 6.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 65,799 shares of the energy company’s stock after buying an additional 3,743 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Devon Energy were worth $3,302,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Salem Investment Counselors Inc. raised its stake in Devon Energy by 31.4% during the 1st quarter. Salem Investment Counselors Inc. now owns 832 shares of the energy company’s stock valued at $42,000 after acquiring an additional 199 shares during the last quarter. Retirement Group LLC increased its holdings in shares of Devon Energy by 21.8% in the first quarter. Retirement Group LLC now owns 1,110 shares of the energy company’s stock valued at $56,000 after purchasing an additional 199 shares during the period. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Devon Energy by 7.4% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 3,046 shares of the energy company’s stock worth $153,000 after purchasing an additional 209 shares during the last quarter. MCF Advisors LLC lifted its holdings in shares of Devon Energy by 5.6% during the first quarter. MCF Advisors LLC now owns 4,023 shares of the energy company’s stock worth $202,000 after purchasing an additional 215 shares during the period. Finally, Magnolia Capital Advisors LLC grew its position in Devon Energy by 1.0% in the 1st quarter. Magnolia Capital Advisors LLC now owns 23,316 shares of the energy company’s stock valued at $1,208,000 after buying an additional 230 shares during the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Insider Transactions at Devon Energy

In related news, EVP Tana K. Cashion sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $51.04, for a total value of $1,020,800.00. Following the sale, the executive vice president now owns 104,182 shares of the company’s stock, valued at approximately $5,317,449.28. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.73% of the company’s stock.

Analyst Upgrades and Downgrades

DVN has been the subject of a number of analyst reports. Morgan Stanley upped their price objective on shares of Devon Energy from $52.00 to $54.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. StockNews.com cut shares of Devon Energy from a “buy” rating to a “hold” rating in a report on Thursday, July 18th. Mizuho raised their price objective on shares of Devon Energy from $57.00 to $61.00 and gave the company a “buy” rating in a research report on Monday, May 13th. UBS Group boosted their target price on Devon Energy from $48.00 to $57.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 10th. Finally, Piper Sandler raised their price target on Devon Energy from $60.00 to $61.00 and gave the company an “overweight” rating in a report on Tuesday, May 14th. Six investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $59.13.

Devon Energy Price Performance

Devon Energy stock traded down $0.38 during trading hours on Wednesday, hitting $45.58. The stock had a trading volume of 5,266,290 shares, compared to its average volume of 7,220,130. The stock has a market capitalization of $28.81 billion, a price-to-earnings ratio of 8.77, a PEG ratio of 1.20 and a beta of 2.07. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.04 and a quick ratio of 0.97. Devon Energy Co. has a 1-year low of $40.47 and a 1-year high of $55.09. The stock’s fifty day moving average is $47.40 and its two-hundred day moving average is $47.12.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Wednesday, May 1st. The energy company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.06. Devon Energy had a net margin of 22.27% and a return on equity of 29.02%. The firm had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.64 billion. During the same period in the prior year, the company earned $1.46 EPS. The firm’s revenue was down 5.9% on a year-over-year basis. As a group, analysts predict that Devon Energy Co. will post 5.4 earnings per share for the current fiscal year.

Devon Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a dividend of $0.22 per share. The ex-dividend date was Friday, June 14th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.93%. Devon Energy’s dividend payout ratio (DPR) is 16.79%.

Devon Energy Company Profile

Devon Energy Corporation, an independent energy company, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Eagle Ford, Anadarko, Williston, and Powder River Basins. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.