United Capital Financial Advisors LLC Makes New $2.08 Million Investment in Devon Energy Corporation $DVN

United Capital Financial Advisors LLC purchased a new stake in shares of Devon Energy Corporation (NYSE:DVN) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 50,228 shares of the energy company’s stock, valued at approximately $2,075,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Woodline Partners LP lifted its holdings in shares of Devon Energy by 98.8% in the first quarter. Woodline Partners LP now owns 115,780 shares of the energy company’s stock valued at $4,330,000 after buying an additional 57,555 shares during the period. Sivia Capital Partners LLC acquired a new position in Devon Energy during the second quarter worth about $403,000. Jump Financial LLC grew its holdings in Devon Energy by 58.8% during the second quarter. Jump Financial LLC now owns 28,251 shares of the energy company’s stock worth $899,000 after acquiring an additional 10,464 shares during the period. Daiwa Securities Group Inc. raised its position in Devon Energy by 17.8% in the second quarter. Daiwa Securities Group Inc. now owns 148,882 shares of the energy company’s stock worth $4,736,000 after acquiring an additional 22,482 shares in the last quarter. Finally, NewEdge Advisors LLC raised its position in Devon Energy by 6.0% in the second quarter. NewEdge Advisors LLC now owns 144,174 shares of the energy company’s stock worth $4,586,000 after acquiring an additional 8,127 shares in the last quarter. Institutional investors own 69.72% of the company’s stock.

Insiders Place Their Bets

In other Devon Energy news, SVP Andrea Alexander sold 18,000 shares of Devon Energy stock in a transaction that occurred 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 transaction, the senior vice president directly owned 138,529 shares in the company, valued at approximately $6,474,845.46. The trade was a 11.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 4.58% of the company’s stock.

Devon Energy Price Performance

NYSE DVN opened at $47.42 on Friday. The stock’s 50-day moving average price is $44.19 and its two-hundred day moving average price is $45.62. The company has a current ratio of 0.72, a quick ratio of 0.67 and a debt-to-equity ratio of 0.24. The company has a market cap of $52.16 billion, a PE ratio of 11.26, a PEG ratio of 1.30 and a beta of 0.38. Devon Energy Corporation has a 1 year low of $31.47 and a 1 year high of $52.71.

Devon Energy (NYSE:DVN) last announced its 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. The company had revenue of $7.42 billion during the quarter, compared to analysts’ expectations 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 period last year, the company posted $0.84 earnings per share. On average, analysts predict that Devon Energy Corporation will post 5.2 EPS for the current year.

Devon Energy Dividend Announcement

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 2.7%. Devon Energy’s dividend payout ratio (DPR) is currently 30.40%.

Wall Street Analyst Weigh In

DVN has been the subject of several research reports. Truist Financial raised their price objective on shares of Devon Energy from $61.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Wells Fargo & Company dropped their target price on shares of Devon Energy from $68.00 to $65.00 and set an “overweight” rating on the stock in a report on Thursday, August 13th. BMO Capital Markets reissued an “outperform” rating on shares of Devon Energy in a research note on Wednesday, June 10th. Wall Street Zen upgraded shares of Devon Energy from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Devon Energy from $62.00 to $55.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $59.15.

About Devon Energy

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.