SPC Financial Inc. Sells 4,931 Shares of Devon Energy Corporation $DVN

SPC Financial Inc. lessened its position in Devon Energy Corporation (NYSE:DVN) by 34.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,479 shares of the energy company’s stock after selling 4,931 shares during the period. SPC Financial Inc.’s holdings in Devon Energy were worth $302,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Devon Energy by 2.6% in the first quarter. Vanguard Group Inc. now owns 82,780,738 shares of the energy company’s stock valued at $3,096,000,000 after purchasing an additional 2,098,568 shares in the last quarter. Victory Capital Management Inc. increased its stake in Devon Energy by 12.9% in the first quarter. Victory Capital Management Inc. now owns 11,518,862 shares of the energy company’s stock valued at $430,805,000 after purchasing an additional 1,315,050 shares in the last quarter. Northern Trust Corp increased its stake in Devon Energy by 5.1% in the first quarter. Northern Trust Corp now owns 6,577,195 shares of the energy company’s stock valued at $245,987,000 after purchasing an additional 316,460 shares in the last quarter. Ameriprise Financial Inc. increased its stake in Devon Energy by 81.1% in the first quarter. Ameriprise Financial Inc. now owns 5,029,987 shares of the energy company’s stock valued at $188,131,000 after purchasing an additional 2,252,918 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Devon Energy by 8.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,706,837 shares of the energy company’s stock valued at $176,036,000 after purchasing an additional 354,633 shares in the last quarter. Institutional investors own 69.72% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on DVN shares. Tudor, Pickering, Holt & Co. increased their price objective on shares of Devon Energy from $42.00 to $44.00 in a research report on Thursday, July 3rd. Evercore ISI increased their price objective on shares of Devon Energy from $34.00 to $37.00 and gave the stock an “in-line” rating in a research report on Monday, October 6th. Barclays lowered their price objective on shares of Devon Energy from $42.00 to $40.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 7th. Bernstein Bank lowered their price objective on shares of Devon Energy from $45.00 to $43.00 and set an “outperform” rating for the company in a research report on Monday, July 7th. Finally, Jefferies Financial Group increased their price objective on shares of Devon Energy from $31.00 to $33.00 and gave the stock a “hold” rating in a research report on Monday, July 14th. Sixteen investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, Devon Energy presently has a consensus rating of “Moderate Buy” and an average price target of $43.81.

Devon Energy Stock Performance

Shares of DVN opened at $32.54 on Monday. Devon Energy Corporation has a 12 month low of $25.89 and a 12 month high of $43.29. The firm has a fifty day simple moving average of $34.53 and a 200 day simple moving average of $33.05. The stock has a market capitalization of $20.65 billion, a price-to-earnings ratio of 7.29, a PEG ratio of 1.89 and a beta of 1.03. The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55.

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

Devon Energy Announces Dividend

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

Insider Buying and Selling

In other Devon Energy news, Director Kelt Kindick sold 7,685 shares of the stock in a transaction on Monday, August 11th. The shares were sold at an average price of $33.46, for a total value of $257,140.10. Following the completion of the sale, the director owned 31,801 shares in the company, valued at $1,064,061.46. This trade represents a 19.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.73% of the stock is currently owned by corporate insiders.

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.