Cliftonlarsonallen Wealth Advisors LLC Buys 994 Shares of Devon Energy Corporation $DVN

Cliftonlarsonallen Wealth Advisors LLC grew its stake in shares of Devon Energy Corporation (NYSE:DVN) by 1.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 99,808 shares of the energy company’s stock after buying an additional 994 shares during the quarter. Cliftonlarsonallen Wealth Advisors LLC’s holdings in Devon Energy were worth $3,175,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Philip James Wealth Mangement LLC boosted its holdings in shares of Devon Energy by 10.6% during the 2nd quarter. Philip James Wealth Mangement LLC now owns 112,634 shares of the energy company’s stock valued at $3,583,000 after acquiring an additional 10,834 shares in the last quarter. Cantor Fitzgerald Investment Advisors L.P. raised its position in Devon Energy by 1.2% in the second quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 276,213 shares of the energy company’s stock valued at $8,786,000 after purchasing an additional 3,223 shares during the last quarter. Trust Co. of Vermont boosted its stake in shares of Devon Energy by 241.3% during the second quarter. Trust Co. of Vermont now owns 942 shares of the energy company’s stock valued at $30,000 after purchasing an additional 666 shares in the last quarter. Lynx Investment Advisory grew its holdings in shares of Devon Energy by 3.3% during the second quarter. Lynx Investment Advisory now owns 15,165 shares of the energy company’s stock worth $482,000 after purchasing an additional 488 shares during the last quarter. Finally, Childress Capital Advisors LLC increased its stake in shares of Devon Energy by 3.5% in the second quarter. Childress Capital Advisors LLC now owns 42,006 shares of the energy company’s stock valued at $1,336,000 after buying an additional 1,401 shares during the period. 69.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

DVN has been the subject of a number of research reports. Tudor, Pickering, Holt & Co. raised their price objective on shares of Devon Energy from $42.00 to $44.00 in a report on Thursday, July 3rd. UBS Group raised their price target on shares of Devon Energy from $37.00 to $40.00 and gave the company a “neutral” rating in a research note on Wednesday, August 20th. Morgan Stanley boosted their price objective on shares of Devon Energy from $46.00 to $49.00 and gave the stock an “overweight” rating in a research note on Monday, August 18th. JPMorgan Chase & Co. increased their price objective on Devon Energy from $40.00 to $42.00 and gave the company a “neutral” rating in a report on Tuesday, July 8th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $45.00 target price (up from $40.00) on shares of Devon Energy in a report on Tuesday, July 22nd. Sixteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $43.81.

Insider Activity at Devon Energy

In other news, Director Kelt Kindick sold 7,685 shares of the firm’s stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $33.46, for a total transaction of $257,140.10. Following the completion of the sale, the director owned 31,801 shares of the company’s stock, valued at $1,064,061.46. This trade represents a 19.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.71% of the stock is currently owned by company insiders.

Devon Energy Stock Performance

Shares of Devon Energy stock opened at $35.32 on Thursday. The business has a 50-day moving average price of $34.39 and a two-hundred day moving average price of $33.19. Devon Energy Corporation has a 1-year low of $25.89 and a 1-year high of $43.29. The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. The company has a market cap of $22.42 billion, a P/E ratio of 7.92, a PEG ratio of 2.03 and a beta of 1.03.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, August 5th. The energy company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.01. Devon Energy had a return on equity of 18.59% and a net margin of 16.57%.The company had revenue of $4.28 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same period in the previous year, the business earned $1.41 EPS. The firm’s revenue was up 9.4% compared to the same quarter last year. As a group, analysts anticipate that Devon Energy Corporation will post 4.85 EPS for the current year.

Devon Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Monday, September 15th. Devon Energy’s dividend payout ratio is presently 21.52%.

Devon Energy 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.