Leuthold Group LLC Boosts Stock Holdings in Devon Energy Corporation $DVN

Leuthold Group LLC raised its stake in Devon Energy Corporation (NYSE:DVN) by 1,297.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 204,176 shares of the energy company’s stock after acquiring an additional 189,570 shares during the period. Leuthold Group LLC’s holdings in Devon Energy were worth $8,437,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in Devon Energy during the fourth quarter valued at approximately $25,000. JFS Wealth Advisors LLC increased its stake in Devon Energy by 56.6% in the 2nd quarter. JFS Wealth Advisors LLC now owns 678 shares of the energy company’s stock worth $28,000 after acquiring an additional 245 shares during the last quarter. KERR FINANCIAL PLANNING Corp bought a new stake in Devon Energy in the 2nd quarter worth approximately $29,000. GoalVest Advisory LLC purchased a new stake in shares of Devon Energy during the 2nd quarter worth approximately $30,000. Finally, SouthState Bank Corp raised its holdings in shares of Devon Energy by 173.6% during the 1st quarter. SouthState Bank Corp now owns 766 shares of the energy company’s stock worth $39,000 after acquiring an additional 486 shares in the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Up 3.2%

NYSE DVN opened at $45.83 on Friday. 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. The firm has a market capitalization of $50.41 billion, a price-to-earnings ratio of 10.89 and a beta of 0.38. The company has a fifty day moving average of $43.40 and a two-hundred day moving average of $45.14.

Devon Energy (NYSE:DVN) last announced its earnings results on Tuesday, August 4th. The energy company reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.17. The business had revenue of $7.42 billion for the quarter, compared to the consensus estimate of $6.01 billion. Devon Energy had a net margin of 16.67% and a return on equity of 14.93%. The business’s revenue for the quarter was up 73.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.84 earnings per share. On average, analysts predict that Devon Energy Corporation will post 4.99 earnings per share for the current year.

Devon Energy Dividend Announcement

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

Insiders Place Their Bets

In related news, SVP Andrea Alexander sold 18,000 shares of the stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $46.74, for a total value of $841,320.00. Following the sale, the senior vice president directly owned 138,529 shares of the company’s stock, valued at $6,474,845.46. This represents a 11.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.58% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on DVN. BMO Capital Markets reissued an “outperform” rating on shares of Devon Energy in a report on Wednesday, June 10th. Citigroup upped their price target on shares of Devon Energy from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, May 20th. Truist Financial upped their price target on shares of Devon Energy from $61.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Wall Street Zen upgraded shares of Devon Energy from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, UBS Group dropped their price objective on shares of Devon Energy from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Wednesday, July 15th. Two 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $59.60.

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.