PKO BP BANKOWY Universal Pension Society JSC Acquires New Shares in Devon Energy Corporation $DVN

PKO BP BANKOWY Universal Pension Society JSC acquired a new stake in Devon Energy Corporation (NYSE:DVN) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 177,491 shares of the energy company’s stock, valued at approximately $6,501,000. Devon Energy makes up approximately 3.3% of PKO BP BANKOWY Universal Pension Society JSC’s holdings, making the stock its 7th largest position.

Other large investors have also made changes to their positions in the company. First Horizon Corp bought a new stake in shares of Devon Energy in the 3rd quarter valued at $26,000. Ameriflex Group Inc. increased its position in shares of Devon Energy by 702.0% in the 3rd quarter. Ameriflex Group Inc. now owns 802 shares of the energy company’s stock valued at $28,000 after buying an additional 702 shares in the last quarter. Accredited Wealth Management LLC increased its position in shares of Devon Energy by 61.6% in the 3rd quarter. Accredited Wealth Management LLC now owns 808 shares of the energy company’s stock valued at $28,000 after buying an additional 308 shares in the last quarter. Olistico Wealth LLC bought a new stake in shares of Devon Energy in the 4th quarter valued at $31,000. Finally, Elyxium Wealth LLC bought a new stake in shares of Devon Energy in the 4th quarter valued at $31,000. Institutional investors own 69.72% of the company’s stock.

Devon Energy Price Performance

DVN stock opened at $49.66 on Tuesday. The stock has a 50-day moving average price of $47.85 and a two-hundred day moving average price of $41.56. The stock has a market cap of $30.86 billion, a PE ratio of 13.83 and a beta of 0.43. The company has a current ratio of 1.01, a quick ratio of 0.94 and a debt-to-equity ratio of 0.48. Devon Energy Corporation has a 1 year low of $30.24 and a 1 year high of $52.71.

Devon Energy (NYSE:DVN) last released its earnings results on Tuesday, May 5th. The energy company reported $1.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.02). The firm had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $4.34 billion. Devon Energy had a return on equity of 15.22% and a net margin of 13.71%.Devon Energy’s revenue for the quarter was down 14.5% on a year-over-year basis. During the same quarter last year, the company posted $0.82 EPS. Equities analysts forecast that Devon Energy Corporation will post 5.25 EPS for the current fiscal year.

Devon Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a dividend of $0.32 per share. The ex-dividend date is Monday, June 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.6%. This is a positive change from Devon Energy’s previous quarterly dividend of $0.24. Devon Energy’s dividend payout ratio (DPR) is currently 26.74%.

More Devon Energy News

Here are the key news stories impacting Devon Energy this week:

• Positive Sentiment: Jefferies raised its price target on Devon Energy to $63 from $62 and kept a buy rating, signaling continued confidence in upside potential. Jefferies adjusts price target on Devon Energy to 63 from 62, maintains buy rating
• Positive Sentiment: Wells Fargo increased its target to $68 from $66 and reiterated an overweight rating, which suggests analysts see meaningful room for the stock to run. Wells Fargo adjusts price target on Devon Energy to 68 from 66, maintains overweight rating
• Positive Sentiment: The stock moved back above its 20-day and 50-day moving averages, a technical signal often viewed as short-term bullish momentum. Devon Energy crossed above the 20-day moving average Devon Energy crossed above the 50-day moving average
• Positive Sentiment: Trading in Devon Energy options jumped sharply, with call volume more than doubling versus average levels, indicating traders are positioning for further upside.
• Positive Sentiment: RBC noted that Devon could get support from upcoming combined-company guidance with Coterra Energy, along with an asset review and buyback-related catalysts. Devon Energy Could Gain From Merger Update in June, Asset Review, Buybacks, RBC Says
• Neutral Sentiment: Additional commentary from Zacks called Devon Energy a strong momentum stock, reinforcing the recent bullish sentiment but not adding a new company-specific catalyst. Here’s Why Devon Energy (DVN) is a Strong Momentum Stock
• Neutral Sentiment: Devon was also mentioned in a dividend-growth roundup and a bullish Seeking Alpha piece, which may help sentiment but are secondary to the analyst upgrades and technical breakout. From High-Yield to High-Growth: 3 Stocks Boosting Dividends Devon Energy: A New Era Begins, And The Market Still Undervalues It
• Negative Sentiment: A company insider sale was reported, with Adam Vela selling shares; this can slightly temper sentiment, though it is smaller than the positive analyst and technical drivers. Adam Vela Sells 24,342 Shares of Devon Energy Stock

Wall Street Analyst Weigh In

A number of analysts recently commented on DVN shares. Wells Fargo & Company upped their price objective on shares of Devon Energy from $66.00 to $68.00 and gave the company an “overweight” rating in a research report on Monday. Jefferies Financial Group upped their price objective on shares of Devon Energy from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Monday. Roth Mkm restated a “buy” rating and issued a $57.00 price objective on shares of Devon Energy in a research report on Tuesday, April 28th. Argus increased their target price on Devon Energy from $41.00 to $51.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Finally, Citigroup increased their target price on Devon Energy from $44.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, March 30th. Four analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $56.85.

Insider Activity

In related news, EVP Jeffrey L. Ritenour sold 70,029 shares of Devon Energy stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $46.66, for a total value of $3,267,553.14. Following the sale, the executive vice president owned 428,452 shares of the company’s stock, valued at approximately $19,991,570.32. The trade was a 14.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Adam M. Vela sold 24,342 shares of Devon Energy stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $47.21, for a total value of $1,149,185.82. Following the completion of the sale, the senior vice president directly owned 130,540 shares in the company, valued at approximately $6,162,793.40. This represents a 15.72% decrease in their position. The SEC filing for this sale provides additional information. 0.73% of the stock is owned by company insiders.

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.