Devon Energy Co. (NYSE:DVN) Shares Acquired by Oliver Luxxe Assets LLC

Oliver Luxxe Assets LLC boosted its stake in Devon Energy Co. (NYSE:DVN) by 1.1% in the 1st quarter, Holdings Channel reports. The firm owned 91,963 shares of the energy company’s stock after purchasing an additional 1,045 shares during the period. Oliver Luxxe Assets LLC’s holdings in Devon Energy were worth $4,615,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in DVN. Acadian Asset Management LLC increased its holdings in Devon Energy by 66.9% in the 3rd quarter. Acadian Asset Management LLC now owns 15,508 shares of the energy company’s stock valued at $738,000 after purchasing an additional 6,215 shares during the last quarter. Natixis Advisors L.P. lifted its position in shares of Devon Energy by 18.1% during the 3rd quarter. Natixis Advisors L.P. now owns 167,612 shares of the energy company’s stock worth $7,995,000 after purchasing an additional 25,742 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Devon Energy by 62.2% during the 3rd quarter. Tower Research Capital LLC TRC now owns 30,608 shares of the energy company’s stock worth $1,460,000 after purchasing an additional 11,742 shares during the last quarter. Toronto Dominion Bank lifted its position in shares of Devon Energy by 35.1% during the 3rd quarter. Toronto Dominion Bank now owns 445,000 shares of the energy company’s stock worth $21,227,000 after purchasing an additional 115,699 shares during the last quarter. Finally, Ancora Advisors LLC lifted its position in shares of Devon Energy by 14.3% during the 3rd quarter. Ancora Advisors LLC now owns 4,274 shares of the energy company’s stock worth $204,000 after purchasing an additional 534 shares during the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Price Performance

DVN traded up $0.37 on Monday, hitting $47.77. 2,110,317 shares of the company were exchanged, compared to its average volume of 7,326,598. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.97 and a current ratio of 1.04. The business’s fifty day moving average is $48.73 and its 200 day moving average is $46.93. Devon Energy Co. has a fifty-two week low of $40.47 and a fifty-two week high of $55.09. The firm has a market capitalization of $30.19 billion, a P/E ratio of 9.11, a price-to-earnings-growth ratio of 1.25 and a beta of 2.07.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Wednesday, May 1st. The energy company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.06. Devon Energy had a net margin of 22.27% and a return on equity of 29.02%. The company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.64 billion. During the same quarter in the prior year, the firm earned $1.46 earnings per share. The company’s revenue for the quarter was down 5.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Devon Energy Co. will post 5.25 EPS for the current year.

Devon Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend was Friday, June 14th. Devon Energy’s dividend payout ratio (DPR) is presently 16.79%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Mizuho boosted their price target on shares of Devon Energy from $57.00 to $61.00 and gave the company a “buy” rating in a research report on Monday, May 13th. Citigroup boosted their price target on shares of Devon Energy from $55.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Royal Bank of Canada boosted their price target on shares of Devon Energy from $55.00 to $57.00 and gave the company a “sector perform” rating in a research report on Thursday, May 9th. StockNews.com raised shares of Devon Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, June 18th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Devon Energy from $57.00 to $62.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Devon Energy currently has a consensus rating of “Moderate Buy” and an average price target of $59.24.

Insider Buying and Selling at Devon Energy

In other Devon Energy news, EVP Tana K. Cashion sold 20,000 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $51.04, for a total value of $1,020,800.00. Following the sale, the executive vice president now owns 104,182 shares of the company’s stock, valued at $5,317,449.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.73% of the company’s stock.

Devon Energy 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.