Devon Energy Corporation $DVN Stock Position Decreased by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC decreased its position in Devon Energy Corporation (NYSE:DVN) by 62.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,577 shares of the energy company’s stock after selling 29,165 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Devon Energy were worth $559,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. SVB Wealth LLC grew 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 worth $304,000 after acquiring an additional 321 shares in the last quarter. Yousif Capital Management LLC lifted its stake in shares of Devon Energy by 0.4% in the 2nd quarter. Yousif Capital Management LLC now owns 87,272 shares of the energy company’s stock valued at $2,776,000 after purchasing an additional 321 shares during the last quarter. MAS Advisors LLC boosted its holdings in Devon Energy by 4.3% in the second quarter. MAS Advisors LLC now owns 7,951 shares of the energy company’s stock worth $253,000 after purchasing an additional 327 shares in the last quarter. Callan Family Office LLC increased its position in Devon Energy by 3.7% during the first quarter. Callan Family Office LLC now owns 10,581 shares of the energy company’s stock worth $396,000 after buying an additional 377 shares during the last quarter. Finally, Argent Trust Co increased its position in Devon Energy by 1.7% during the first quarter. Argent Trust Co now owns 23,229 shares of the energy company’s stock worth $869,000 after buying an additional 391 shares during the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on DVN. 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. Scotiabank restated an “outperform” rating on shares of Devon Energy in a research note on Thursday, October 9th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Devon Energy in a research note on Wednesday. Piper Sandler dropped their target price on shares of Devon Energy from $57.00 to $55.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, The Goldman Sachs Group boosted their price objective on Devon Energy from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $43.79.

Devon Energy Stock Up 1.3%

DVN stock opened at $35.63 on Friday. Devon Energy Corporation has a twelve month low of $25.89 and a twelve month high of $39.65. 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 has a market cap of $22.35 billion, a PE ratio of 7.99, a price-to-earnings-growth ratio of 2.49 and a beta of 1.01. The business’s 50-day simple moving average is $33.97 and its 200 day simple moving average is $33.53.

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

Devon Energy Announces Dividend

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

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.