Valeo Financial Advisors LLC Grows Stake in Devon Energy Corporation $DVN

Valeo Financial Advisors LLC lifted its holdings in shares of Devon Energy Corporation (NYSE:DVN) by 280.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 22,472 shares of the energy company’s stock after acquiring an additional 16,570 shares during the period. Valeo Financial Advisors LLC’s holdings in Devon Energy were worth $929,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in DVN. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in shares of Devon Energy in the 4th quarter valued at $25,000. Garton & Associates Financial Advisors LLC purchased a new stake in Devon Energy in the fourth quarter valued at $29,000. MV Capital Management Inc. purchased a new stake in Devon Energy in the fourth quarter valued at $29,000. KERR FINANCIAL PLANNING Corp acquired a new position in Devon Energy in the second quarter valued at $29,000. Finally, Elyxium Wealth LLC acquired a new position in Devon Energy in the fourth quarter valued at $31,000. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Insider Buying and Selling at Devon Energy

In other Devon Energy news, SVP Andrea Alexander sold 18,000 shares of the company’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $46.74, for a total transaction of $841,320.00. Following the completion of the transaction, the senior vice president owned 138,529 shares in the company, valued at approximately $6,474,845.46. This represents a 11.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Adam M. Vela sold 24,342 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $47.21, for a total transaction of $1,149,185.82. Following the completion of the sale, the senior vice president owned 130,540 shares of the company’s stock, valued at $6,162,793.40. This trade represents a 15.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 4.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Wolfe Research set a $67.00 target price on Devon Energy and gave the stock an “outperform” rating in a research report on Monday, June 22nd. Tudor Pickering raised Devon Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 20th. Weiss Ratings restated a “hold (c)” rating on shares of Devon Energy in a research note on Thursday, June 11th. UBS Group cut their price target on Devon Energy from $58.00 to $54.00 and set a “buy” rating on the stock in a research report on Wednesday, July 15th. Finally, Zacks Research cut Devon Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 27th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Devon Energy has a consensus rating of “Moderate Buy” and a consensus price target of $59.72.

Devon Energy Stock Up 5.5%

Devon Energy stock opened at $45.34 on Tuesday. The stock has a 50 day moving average of $43.44 and a two-hundred day moving average of $44.99. Devon Energy Corporation has a twelve month low of $31.47 and a twelve month high of $52.71. The stock has a market capitalization of $28.17 billion, a price-to-earnings ratio of 10.77 and a beta of 0.38. The company has a current ratio of 0.72, a quick ratio of 0.67 and a debt-to-equity ratio of 0.24.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, August 4th. The energy company reported $1.57 EPS for the quarter, topping the consensus estimate of $1.40 by $0.17. Devon Energy had a return on equity of 14.93% and a net margin of 16.67%.The business had revenue of $7.42 billion during the quarter, compared to analysts’ expectations of $6.01 billion. During the same quarter in the prior year, the business earned $0.84 earnings per share. The company’s quarterly revenue was up 73.1% compared to the same quarter last year. As a group, research analysts expect that Devon Energy Corporation will post 4.81 earnings per share for the current year.

Devon Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Tuesday, September 15th. Devon Energy’s payout ratio is currently 30.40%.

Devon Energy Profile

Devon Energy Corporation (NYSE: DVN) is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.

Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.