Slagle Financial LLC Acquires 41,911 Shares of Devon Energy Corporation $DVN

Slagle Financial LLC raised its stake in shares of Devon Energy Corporation (NYSE:DVN) by 91.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 87,853 shares of the energy company’s stock after purchasing an additional 41,911 shares during the quarter. Slagle Financial LLC’s holdings in Devon Energy were worth $2,795,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. SVB Wealth LLC boosted its position in Devon Energy by 4.1% in the first quarter. SVB Wealth LLC now owns 8,131 shares of the energy company’s stock valued at $304,000 after buying an additional 321 shares in the last quarter. Yousif Capital Management LLC grew its position in Devon Energy by 0.4% during the 2nd quarter. Yousif Capital Management LLC now owns 87,272 shares of the energy company’s stock worth $2,776,000 after acquiring an additional 321 shares during the last quarter. MAS Advisors LLC grew its position in Devon Energy by 4.3% during the 2nd quarter. MAS Advisors LLC now owns 7,951 shares of the energy company’s stock worth $253,000 after acquiring an additional 327 shares during the last quarter. Callan Family Office LLC increased its holdings in Devon Energy by 3.7% during the 1st quarter. Callan Family Office LLC now owns 10,581 shares of the energy company’s stock valued at $396,000 after purchasing an additional 377 shares in the last quarter. Finally, Private Advisor Group LLC raised its position in Devon Energy by 0.4% in the 1st quarter. Private Advisor Group LLC now owns 92,211 shares of the energy company’s stock valued at $3,449,000 after purchasing an additional 386 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors.

Devon Energy Trading Up 2.2%

Shares of NYSE DVN opened at $35.80 on Monday. The company’s fifty day moving average is $33.92 and its 200-day moving average is $33.41. The stock has a market cap of $22.45 billion, a price-to-earnings ratio of 8.03, a P/E/G ratio of 2.49 and a beta of 1.01. Devon Energy Corporation has a twelve month low of $25.89 and a twelve month high of $39.74. 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 (NYSE:DVN) last released its quarterly earnings data on Wednesday, November 5th. The energy company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.11. The business had revenue of $0.00 million during the quarter, compared to analysts’ expectations of $4.10 billion. Devon Energy had a net margin of 16.57% and a return on equity of 18.59%. During the same quarter in the prior year, the company earned $1.10 EPS. Equities research analysts predict that Devon Energy Corporation will post 4.85 EPS for the current year.

Devon Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.7%. Devon Energy’s dividend payout ratio (DPR) is currently 22.59%.

Analysts Set New Price Targets

Several brokerages recently issued reports on DVN. BMO Capital Markets reduced their price target on shares of Devon Energy from $51.00 to $50.00 in a research report on Tuesday, November 11th. Capital One Financial dropped their price objective on Devon Energy from $52.00 to $51.00 and set an “overweight” rating for the company in a report on Tuesday, November 11th. Wells Fargo & Company reduced their target price 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. Raymond James Financial reiterated an “outperform” rating and set a $45.00 price target (up previously from $40.00) on shares of Devon Energy in a research report on Tuesday, July 22nd. Finally, UBS Group boosted their price target on shares of Devon Energy from $37.00 to $40.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $43.86.

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.