PKO Investment Management Joint Stock Co Purchases 4,000 Shares of Devon Energy Corporation $DVN

PKO Investment Management Joint Stock Co increased its position in Devon Energy Corporation (NYSE:DVN) by 29.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 17,661 shares of the energy company’s stock after buying an additional 4,000 shares during the quarter. PKO Investment Management Joint Stock Co’s holdings in Devon Energy were worth $562,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of DVN. Vanguard Group Inc. lifted its position in shares of 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 acquiring an additional 2,098,568 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Devon Energy by 12.9% in the 1st quarter. Victory Capital Management Inc. now owns 11,518,862 shares of the energy company’s stock worth $430,805,000 after purchasing an additional 1,315,050 shares in the last quarter. Northern Trust Corp boosted its stake in Devon Energy by 5.1% in the 1st quarter. Northern Trust Corp now owns 6,577,195 shares of the energy company’s stock worth $245,987,000 after purchasing an additional 316,460 shares during the period. Ameriprise Financial Inc. boosted its stake in Devon Energy by 81.1% in the 1st quarter. Ameriprise Financial Inc. now owns 5,029,987 shares of the energy company’s stock worth $188,131,000 after purchasing an additional 2,252,918 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Devon Energy by 8.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,706,837 shares of the energy company’s stock valued at $176,036,000 after buying an additional 354,633 shares in the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Insider Activity at Devon Energy

In other news, Director Kelt Kindick sold 7,685 shares of the company’s stock in a transaction that occurred 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 transaction, the director owned 31,801 shares of the company’s stock, valued at approximately $1,064,061.46. This represents a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.71% of the company’s stock.

Devon Energy Stock Performance

Devon Energy stock opened at $32.97 on Friday. Devon Energy Corporation has a twelve month low of $25.89 and a twelve month high of $40.54. The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.55. The company’s 50-day moving average price is $34.43 and its 200-day moving average price is $33.03. The company has a market cap of $20.93 billion, a PE ratio of 7.39, a price-to-earnings-growth ratio of 2.55 and a beta of 1.03.

Devon Energy (NYSE:DVN) last announced its earnings results on Tuesday, August 5th. The energy company reported $0.84 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the prior year, the firm posted $1.41 earnings per share. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, equities research analysts forecast that Devon Energy Corporation will post 4.85 EPS for the current fiscal year.

Devon Energy Announces Dividend

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

Analysts Set New Price Targets

Several research firms have recently commented on DVN. Weiss Ratings reissued a “hold (c-)” rating on shares of Devon Energy in a report on Friday. Wells Fargo & Company decreased their price target on shares of Devon Energy from $43.00 to $37.00 and set an “overweight” rating on the stock in a research note on Friday, October 17th. Siebert Williams Shank cut their price objective on Devon Energy from $52.00 to $46.00 and set a “buy” rating for the company in a research report on Monday, October 13th. Scotiabank reaffirmed an “outperform” rating on shares of Devon Energy in a report on Thursday, October 9th. Finally, Bernstein Bank dropped their price target on Devon Energy from $45.00 to $43.00 and set an “outperform” rating for the company in a research note on Monday, July 7th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat, Devon Energy presently has an average rating of “Moderate Buy” and a consensus price target of $43.14.

About Devon Energy

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.