Devon Energy Corporation $DVN Shares Purchased by Aptus Capital Advisors LLC

Aptus Capital Advisors LLC raised its position in shares of Devon Energy Corporation (NYSE:DVN) by 2,186.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 438,810 shares of the energy company’s stock after acquiring an additional 419,622 shares during the period. Aptus Capital Advisors LLC owned approximately 0.07% of Devon Energy worth $16,411,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Aviso Financial Inc. boosted its position in shares of Devon Energy by 2.6% in the first quarter. Aviso Financial Inc. now owns 19,080 shares of the energy company’s stock worth $714,000 after buying an additional 490 shares during the period. Northern Trust Corp lifted its stake in shares of Devon Energy by 5.1% in the first quarter. Northern Trust Corp now owns 6,577,195 shares of the energy company’s stock worth $245,987,000 after acquiring an additional 316,460 shares in the last quarter. Brooklyn Investment Group lifted its stake in shares of Devon Energy by 42.6% in the first quarter. Brooklyn Investment Group now owns 11,467 shares of the energy company’s stock worth $429,000 after acquiring an additional 3,425 shares in the last quarter. CacheTech Inc. lifted its stake in shares of Devon Energy by 4.9% in the first quarter. CacheTech Inc. now owns 79,865 shares of the energy company’s stock worth $2,987,000 after acquiring an additional 3,724 shares in the last quarter. Finally, Value Holdings Management CO. LLC lifted its stake in shares of Devon Energy by 26.2% in the first quarter. Value Holdings Management CO. LLC now owns 79,500 shares of the energy company’s stock worth $2,974,000 after acquiring an additional 16,500 shares in the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the company. Wells Fargo & Company boosted their price target on Devon Energy from $42.00 to $43.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 12th. BMO Capital Markets increased their target price on Devon Energy from $48.00 to $51.00 and gave the stock an “outperform” rating in a report on Monday, July 14th. Morgan Stanley reaffirmed an “overweight” rating and set a $46.00 target price (up previously from $44.00) on shares of Devon Energy in a report on Tuesday, July 15th. Scotiabank reaffirmed an “outperform” rating on shares of Devon Energy in a report on Friday, July 11th. Finally, Siebert Williams Shank increased their price target on Devon Energy from $47.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, June 23rd. Eleven research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Devon Energy presently has an average rating of “Moderate Buy” and a consensus target price of $43.93.

Devon Energy Stock Performance

Shares of DVN stock opened at $33.70 on Monday. The stock has a market capitalization of $21.39 billion, a P/E ratio of 7.56, a PEG ratio of 1.92 and a beta of 1.07. The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. The firm’s 50 day moving average is $33.25 and its 200 day moving average is $33.13. Devon Energy Corporation has a 12 month low of $25.89 and a 12 month high of $46.04.

Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, August 5th. The energy company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.01. The business had revenue of $4.28 billion for the quarter, compared to analysts’ expectations of $4.01 billion. Devon Energy had a net margin of 16.57% and a return on equity of 18.59%. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.41 EPS. On average, sell-side analysts anticipate that Devon Energy Corporation will post 4.85 earnings per share for the current year.

Devon Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Monday, September 15th. Devon Energy’s dividend payout ratio (DPR) is presently 21.52%.

Insider Buying and Selling

In related news, Director Kelt Kindick sold 7,685 shares of Devon Energy stock in a transaction on Monday, August 11th. The shares were sold at an average price of $33.46, for a total value of $257,140.10. Following the transaction, the director owned 31,801 shares in the company, valued at $1,064,061.46. This trade represents a 19.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.73% of the stock is currently owned by insiders.

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.