TD Asset Management Inc Purchases 16,106 Shares of Devon Energy Corporation $DVN

TD Asset Management Inc lifted its position in shares of Devon Energy Corporation (NYSE:DVN) by 6.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 267,322 shares of the energy company’s stock after acquiring an additional 16,106 shares during the quarter. TD Asset Management Inc’s holdings in Devon Energy were worth $8,504,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Opal Wealth Advisors LLC bought a new stake in shares of Devon Energy during the second quarter worth $25,000. Financial Gravity Asset Management Inc. bought a new stake in Devon Energy in the first quarter valued at about $26,000. Banque Cantonale Vaudoise bought a new stake in Devon Energy in the first quarter valued at about $26,000. Trust Co. of Vermont increased its holdings in Devon Energy by 241.3% in the second quarter. Trust Co. of Vermont now owns 942 shares of the energy company’s stock valued at $30,000 after purchasing an additional 666 shares during the last quarter. Finally, SouthState Corp increased its holdings in Devon Energy by 350.5% in the first quarter. SouthState Corp now owns 991 shares of the energy company’s stock valued at $37,000 after purchasing an additional 771 shares during the last quarter. Institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Down 0.9%

NYSE:DVN opened at $31.73 on Monday. Devon Energy Corporation has a 1 year low of $25.89 and a 1 year high of $41.06. 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 stock has a market cap of $20.14 billion, a price-to-earnings ratio of 7.12, a PEG ratio of 1.87 and a beta of 1.03. The stock has a 50-day moving average price of $34.52 and a two-hundred day moving average price of $32.90.

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, beating analysts’ consensus estimates of $0.83 by $0.01. Devon Energy had a return on equity of 18.59% and a net margin of 16.57%.The firm had revenue of $4.28 billion during the quarter, compared to analysts’ expectations of $4.01 billion. During the same period in the previous year, the firm earned $1.41 earnings per share. The company’s revenue was up 9.4% on a year-over-year basis. As a group, equities analysts expect that Devon Energy Corporation will post 4.85 earnings per share for the current year.

Devon Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Monday, September 15th. Devon Energy’s dividend payout ratio is currently 21.52%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on DVN. Wells Fargo & Company dropped their price objective on Devon Energy from $43.00 to $37.00 and set an “overweight” rating for the company in a report on Friday. Bernstein Bank dropped their price objective on Devon Energy from $45.00 to $43.00 and set an “outperform” rating for the company in a report on Monday, July 7th. Siebert Williams Shank dropped their price objective on Devon Energy from $52.00 to $46.00 and set a “buy” rating for the company in a report on Monday, October 13th. Morgan Stanley dropped their price objective on Devon Energy from $49.00 to $47.00 and set an “overweight” rating for the company in a report on Tuesday, October 14th. Finally, Evercore ISI upped their price objective on Devon Energy from $34.00 to $37.00 and gave the company an “in-line” rating in a report on Monday, October 6th. Seventeen investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat.com, Devon Energy has an average rating of “Moderate Buy” and a consensus price target of $43.14.

Insider Buying and Selling at Devon Energy

In other news, Director Kelt Kindick sold 7,685 shares of the company’s stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $33.46, for a total transaction of $257,140.10. Following the completion of the transaction, the director directly owned 31,801 shares of the company’s stock, valued at $1,064,061.46. This represents a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.73% of the stock is owned by corporate 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.