Lindenwold Advisors INC Buys 473 Shares of Devon Energy Corporation $DVN

Lindenwold Advisors INC boosted its stake in shares of Devon Energy Corporation (NYSE:DVN) by 1.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,780 shares of the energy company’s stock after purchasing an additional 473 shares during the quarter. Lindenwold Advisors INC’s holdings in Devon Energy were worth $852,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Banque Cantonale Vaudoise acquired a new position in shares of Devon Energy during the first quarter worth approximately $26,000. Financial Gravity Asset Management Inc. acquired a new position in shares of Devon Energy during the first quarter worth approximately $26,000. Opal Wealth Advisors LLC acquired a new position in shares of Devon Energy during the second quarter worth approximately $25,000. Rakuten Securities Inc. lifted its holdings in shares of Devon Energy by 94.6% during the first quarter. Rakuten Securities Inc. now owns 833 shares of the energy company’s stock worth $31,000 after buying an additional 405 shares during the last quarter. Finally, Trust Co. of Vermont lifted its holdings 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 worth $30,000 after buying an additional 666 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Devon Energy Stock Performance

Shares of NYSE DVN opened at $32.54 on Friday. The business has a fifty day simple moving average of $34.53 and a 200 day simple moving average of $33.10. 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 firm has a market capitalization of $20.65 billion, a price-to-earnings ratio of 7.29, a PEG ratio of 2.00 and a beta of 1.03. Devon Energy Corporation has a one year low of $25.89 and a one year high of $43.29.

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

Devon Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 3.0%. The ex-dividend date was Monday, September 15th. Devon Energy’s dividend payout ratio is currently 21.52%.

Insider Transactions at Devon Energy

In other Devon Energy news, Director Kelt Kindick sold 7,685 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $33.46, for a total transaction of $257,140.10. Following the completion of the transaction, the director directly owned 31,801 shares in the company, valued at $1,064,061.46. This represents a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.71% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Jefferies Financial Group upped their price target on Devon Energy from $31.00 to $33.00 and gave the stock a “hold” rating in a report on Monday, July 14th. Wolfe Research upped their price target on Devon Energy from $47.00 to $49.00 and gave the stock an “outperform” rating in a report on Monday, June 23rd. Morgan Stanley upped their target price on Devon Energy from $46.00 to $49.00 and gave the company an “overweight” rating in a research note on Monday, August 18th. Weiss Ratings restated a “hold (c-)” rating on shares of Devon Energy in a research note on Wednesday. Finally, Tudor, Pickering, Holt & Co. upped their target price on Devon Energy from $42.00 to $44.00 in a research note on Thursday, July 3rd. Sixteen investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.81.

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.