Aspiriant LLC Purchases Shares of 7,243 Devon Energy Corporation $DVN

Aspiriant LLC purchased a new stake in Devon Energy Corporation (NYSE:DVN) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 7,243 shares of the energy company’s stock, valued at approximately $230,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Opal Wealth Advisors LLC purchased a new stake in shares of Devon Energy in the 2nd quarter valued at about $25,000. Financial Gravity Asset Management Inc. bought a new position in Devon Energy during the 1st quarter worth approximately $26,000. Banque Cantonale Vaudoise bought a new stake in shares of Devon Energy in the 1st quarter worth approximately $26,000. Trust Co. of Vermont grew its position 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 worth $30,000 after buying an additional 666 shares during the last quarter. Finally, SouthState Corp grew its position in shares of Devon Energy by 350.5% in the 1st quarter. SouthState Corp now owns 991 shares of the energy company’s stock worth $37,000 after buying an additional 771 shares during the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Insider Activity at Devon Energy

In other Devon Energy news, Director Kelt Kindick sold 7,685 shares of the business’s stock in a transaction dated 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 sale, the director owned 31,801 shares of the company’s stock, valued at approximately $1,064,061.46. The trade was a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.71% of the stock is owned by insiders.

Devon Energy Stock Performance

Shares of DVN opened at $31.73 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.22 and a quick ratio of 1.13. Devon Energy Corporation has a one year low of $25.89 and a one year high of $41.06. The firm has a market capitalization of $20.14 billion, a P/E ratio of 7.12, a PEG ratio of 1.90 and a beta of 1.03. The business has a fifty day moving average of $34.52 and a 200 day moving average of $32.90.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data 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 return on equity of 18.59% and a net margin of 16.57%.The company had revenue of $4.28 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the previous year, the company posted $1.41 earnings per share. Devon Energy’s revenue was up 9.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Devon Energy Corporation will post 4.85 EPS for the current year.

Devon Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were issued 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 3.0%. Devon Energy’s payout ratio is presently 21.52%.

Analyst Ratings Changes

DVN has been the subject of a number of recent research reports. Evercore ISI lifted their price objective on Devon Energy from $34.00 to $37.00 and gave the company an “in-line” rating in a research note on Monday, October 6th. Wolfe Research lifted their price objective on Devon Energy from $47.00 to $49.00 and gave the company an “outperform” rating in a research note on Monday, June 23rd. Royal Bank Of Canada set a $42.00 price objective on Devon Energy and gave the company a “sector perform” rating in a research note on Friday, October 10th. Piper Sandler lowered their price objective on Devon Energy from $58.00 to $57.00 and set an “overweight” rating for the company in a research note on Thursday, August 14th. Finally, BMO Capital Markets lifted their price objective on Devon Energy from $48.00 to $51.00 and gave the company an “outperform” rating in a research note on Monday, July 14th. Seventeen analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat, Devon Energy presently has a consensus rating of “Moderate Buy” and an average target price of $43.14.

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.