Murphy Pohlad Asset Management LLC Has $3.28 Million Stake in Devon Energy Corporation $DVN

Murphy Pohlad Asset Management LLC boosted its holdings in Devon Energy Corporation (NYSE:DVN) by 4.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 103,067 shares of the energy company’s stock after buying an additional 3,925 shares during the period. Murphy Pohlad Asset Management LLC’s holdings in Devon Energy were worth $3,279,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. Vanguard Group Inc. lifted its holdings 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 buying an additional 2,098,568 shares during the period. Victory Capital Management Inc. lifted its holdings 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 buying an additional 1,315,050 shares during the period. Northern Trust Corp increased its holdings 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 during the last quarter. Ameriprise Financial Inc. increased its holdings 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 during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings 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 during the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Devon Energy Stock Down 0.1%

Shares of DVN stock opened at $32.01 on Friday. The firm has a fifty day moving average of $34.32 and a 200-day moving average of $33.11. The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.55. Devon Energy Corporation has a 12-month low of $25.89 and a 12-month high of $40.54. The company has a market capitalization of $20.32 billion, a price-to-earnings ratio of 7.18, a P/E/G ratio of 2.49 and a beta of 1.03.

Devon Energy (NYSE:DVN) last issued 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 net margin of 16.57% and a return on equity of 18.59%. The company had revenue of $4.28 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the prior year, the firm earned $1.41 earnings per share. The firm’s revenue was up 9.4% compared to the same quarter last year. As a group, equities research analysts predict that Devon Energy Corporation will post 4.85 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders 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 3.0%. The ex-dividend date of this dividend was Monday, September 15th. Devon Energy’s dividend payout ratio is currently 21.52%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on DVN shares. Barclays dropped their price objective on Devon Energy from $42.00 to $40.00 and set an “equal weight” rating for the company in a report on Tuesday, October 7th. UBS Group upped their price objective on Devon Energy from $37.00 to $40.00 and gave the company a “neutral” rating in a report on Wednesday, August 20th. Bernstein Bank cut their target price on shares of Devon Energy from $45.00 to $43.00 and set an “outperform” rating on the stock in a report on Monday, July 7th. Piper Sandler cut their target price on shares of Devon Energy from $58.00 to $57.00 and set an “overweight” rating on the stock in a report on Thursday, August 14th. Finally, Scotiabank reiterated an “outperform” rating on shares of Devon Energy in a report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, Devon Energy has a consensus rating of “Moderate Buy” and an average price target of $43.14.

Insider Buying and Selling at Devon Energy

In other news, Director Kelt Kindick sold 7,685 shares of the company’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 transaction, the director directly owned 31,801 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available at this hyperlink. 0.71% of the stock is owned by corporate insiders.

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.