NorthRock Partners LLC Purchases 7,347 Shares of Devon Energy Corporation $DVN

NorthRock Partners LLC grew its position in Devon Energy Corporation (NYSE:DVN) by 54.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 20,771 shares of the energy company’s stock after acquiring an additional 7,347 shares during the period. NorthRock Partners LLC’s holdings in Devon Energy were worth $661,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of DVN. Opal Wealth Advisors LLC bought a new position in shares of Devon Energy in the 2nd quarter valued at $25,000. Financial Gravity Asset Management Inc. bought a new position in shares of Devon Energy in the 1st quarter valued at $26,000. Banque Cantonale Vaudoise bought a new position in shares of Devon Energy in the 1st quarter valued at $26,000. Trust Co. of Vermont lifted its stake in shares of Devon Energy by 241.3% in the 2nd quarter. Trust Co. of Vermont now owns 942 shares of the energy company’s stock valued at $30,000 after acquiring an additional 666 shares during the last quarter. Finally, Rakuten Securities Inc. lifted its stake in shares of Devon Energy by 94.6% in the 1st quarter. Rakuten Securities Inc. now owns 833 shares of the energy company’s stock valued at $31,000 after acquiring an additional 405 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors.

Devon Energy Stock Performance

DVN stock opened at $32.69 on Wednesday. The stock has a 50-day moving average price of $34.56 and a 200-day moving average price of $33.02. Devon Energy Corporation has a 1-year low of $25.89 and a 1-year high of $41.84. 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 cap of $20.75 billion, a PE ratio of 7.33, a price-to-earnings-growth ratio of 1.93 and a beta of 1.03.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, August 5th. The energy company reported $0.84 earnings per share 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 last year, the company posted $1.41 EPS. The business’s quarterly revenue was up 9.4% on a year-over-year basis. As a group, equities research analysts expect that Devon Energy Corporation will post 4.85 earnings per share for the current year.

Devon Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were given a $0.24 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $0.96 annualized dividend and a dividend yield of 2.9%. Devon Energy’s dividend payout ratio (DPR) is 21.52%.

Analyst Ratings Changes

DVN has been the subject of several analyst reports. Roth Capital initiated coverage on Devon Energy in a research report on Monday. They set a “buy” rating and a $42.00 target price for the company. Siebert Williams Shank raised their target price on Devon Energy from $47.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, June 23rd. Scotiabank reaffirmed an “outperform” rating on shares of Devon Energy in a research report on Thursday, October 9th. JPMorgan Chase & Co. raised their target price on Devon Energy from $40.00 to $42.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 8th. Finally, Wells Fargo & Company raised their target price on Devon Energy from $42.00 to $43.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 12th. Seventeen investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $43.68.

Insider Activity at Devon Energy

In other news, Director Kelt Kindick sold 7,685 shares of the firm’s stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $33.46, for a total value of $257,140.10. Following the completion of the sale, the director directly owned 31,801 shares in the company, 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 at 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.