Devon Energy Corporation $DVN Stock Holdings Increased by Hartford Investment Management Co.

Hartford Investment Management Co. lifted its holdings in Devon Energy Corporation (NYSE:DVN) by 80.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 63,718 shares of the energy company’s stock after purchasing an additional 28,315 shares during the quarter. Hartford Investment Management Co.’s holdings in Devon Energy were worth $2,633,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in shares of Devon Energy during the fourth quarter valued at about $25,000. JFS Wealth Advisors LLC raised its position in shares of Devon Energy by 56.6% during the 2nd quarter. JFS Wealth Advisors LLC now owns 678 shares of the energy company’s stock worth $28,000 after buying an additional 245 shares in the last quarter. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of Devon Energy in the 2nd quarter worth approximately $29,000. GoalVest Advisory LLC bought a new position in shares of Devon Energy in the second quarter valued at approximately $30,000. Finally, SouthState Bank Corp increased its stake in shares of Devon Energy by 173.6% during the first quarter. SouthState Bank Corp now owns 766 shares of the energy company’s stock valued at $39,000 after acquiring an additional 486 shares during the period. 69.72% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Jefferies Financial Group increased their price target on Devon Energy from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Monday, May 18th. The Goldman Sachs Group decreased their target price on Devon Energy from $54.00 to $53.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. Wall Street Zen cut shares of Devon Energy from a “buy” rating to a “hold” rating in a research report on Sunday, June 21st. BMO Capital Markets reissued an “outperform” rating on shares of Devon Energy in a report on Wednesday, June 10th. Finally, Scotiabank raised their price objective on shares of Devon Energy from $41.00 to $46.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Devon Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.60.

Insider Buying and Selling

In other Devon Energy news, SVP Andrea Alexander sold 18,000 shares of Devon Energy stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $46.74, for a total transaction of $841,320.00. Following the transaction, the senior vice president owned 138,529 shares of the company’s stock, valued at $6,474,845.46. The trade was a 11.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 4.58% of the company’s stock.

Devon Energy Stock Performance

Shares of NYSE DVN opened at $44.48 on Friday. The stock’s fifty day simple moving average is $43.37 and its 200 day simple moving average is $45.13. The stock has a market capitalization of $48.93 billion, a price-to-earnings ratio of 10.57 and a beta of 0.38. The company has a quick ratio of 0.67, a current ratio of 0.72 and a debt-to-equity ratio of 0.24. Devon Energy Corporation has a 52-week low of $31.47 and a 52-week high of $52.71.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, August 4th. The energy company reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.17. The business had revenue of $7.42 billion during the quarter, compared to analyst estimates of $6.01 billion. Devon Energy had a return on equity of 14.93% and a net margin of 16.67%.Devon Energy’s revenue for the quarter was up 73.1% on a year-over-year basis. During the same quarter last year, the company posted $0.84 EPS. As a group, sell-side analysts forecast that Devon Energy Corporation will post 4.95 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.28 dividend on an annualized basis and a yield of 2.9%. Devon Energy’s dividend payout ratio (DPR) is currently 30.40%.

Devon Energy Company 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.