Devon Energy Corporation $DVN Shares Sold by Legacy Wealth Managment LLC ID

Legacy Wealth Managment LLC ID reduced its position in Devon Energy Corporation (NYSE:DVN) by 99.3% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 2,075 shares of the energy company’s stock after selling 303,837 shares during the period. Legacy Wealth Managment LLC ID’s holdings in Devon Energy were worth $66,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Devon Energy by 2.6% during the 1st 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. increased 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 valued at $430,805,000 after purchasing an additional 1,315,050 shares in the last quarter. Northern Trust Corp raised its position 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 period. Ameriprise Financial Inc. raised its position 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 period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Devon Energy by 8.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 4,706,837 shares of the energy company’s stock worth $176,036,000 after purchasing an additional 354,633 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on DVN shares. Susquehanna reduced their price target on Devon Energy to $41.00 and set a “positive” rating on the stock in a research report on Monday, October 20th. The Goldman Sachs Group reduced their target price on shares of Devon Energy from $41.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, October 15th. Roth Capital started coverage on shares of Devon Energy in a report on Monday, October 13th. They set a “buy” rating and a $42.00 price target for the company. Piper Sandler dropped their price target on shares of Devon Energy from $58.00 to $57.00 and set an “overweight” rating on the stock in a research note on Thursday, August 14th. Finally, Barclays cut their price objective on shares of Devon Energy from $42.00 to $40.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Devon Energy has an average rating of “Moderate Buy” and an average target price of $43.04.

Insiders Place Their Bets

In related news, Director Kelt Kindick sold 7,685 shares of the stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $33.46, for a total transaction of $257,140.10. Following the sale, the director owned 31,801 shares in the company, valued at $1,064,061.46. This represents a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.71% of the stock is currently owned by company insiders.

Devon Energy Price Performance

Shares of DVN opened at $33.68 on Friday. Devon Energy Corporation has a 52 week low of $25.89 and a 52 week high of $39.74. 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 $21.38 billion, a price-to-earnings ratio of 7.55, a PEG ratio of 2.49 and a beta of 1.01. The stock has a 50 day moving average of $33.97 and a 200-day moving average of $33.24.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Wednesday, November 5th. The energy company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.11. The business had revenue of $0.00 million for the quarter, compared to analyst estimates of $4.10 billion. Devon Energy had a return on equity of 18.59% and a net margin of 16.57%.During the same period in the prior year, the company posted $1.10 EPS. As a group, analysts forecast that Devon Energy Corporation will post 4.85 EPS for the current year.

Devon Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, December 15th. Devon Energy’s dividend payout ratio is currently 22.59%.

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.