Devon Energy Co. (NYSE:DVN) Shares Purchased by Bessemer Group Inc.

Bessemer Group Inc. increased its holdings in shares of Devon Energy Co. (NYSE:DVN) by 3.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 53,307 shares of the energy company’s stock after acquiring an additional 1,542 shares during the period. Bessemer Group Inc.’s holdings in Devon Energy were worth $2,676,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Tradewinds Capital Management LLC purchased a new position in Devon Energy in the 1st quarter valued at about $30,000. Manchester Capital Management LLC purchased a new position in Devon Energy in the 4th quarter valued at about $28,000. Jones Financial Companies Lllp lifted its stake in Devon Energy by 104.8% in the 4th quarter. Jones Financial Companies Lllp now owns 731 shares of the energy company’s stock valued at $33,000 after buying an additional 374 shares in the last quarter. PFS Partners LLC purchased a new position in Devon Energy in the 4th quarter valued at about $36,000. Finally, Salem Investment Counselors Inc. lifted its stake in Devon Energy by 31.4% in the 1st quarter. Salem Investment Counselors Inc. now owns 832 shares of the energy company’s stock valued at $42,000 after buying an additional 199 shares in the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Devon Energy

In related news, EVP Tana K. Cashion sold 20,000 shares of Devon Energy stock in a transaction that occurred on 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 completion of the sale, the executive vice president now owns 104,182 shares in the company, valued at approximately $5,317,449.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.73% of the stock is owned by insiders.

Devon Energy Trading Up 1.1 %

Shares of NYSE DVN traded up $0.52 during midday trading on Thursday, reaching $46.10. 1,261,470 shares of the stock were exchanged, compared to its average volume of 7,178,257. The company has a 50 day simple moving average of $47.32 and a 200 day simple moving average of $47.11. The stock has a market capitalization of $29.14 billion, a P/E ratio of 8.70, a PEG ratio of 1.18 and a beta of 2.07. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.97 and a current ratio of 1.04. Devon Energy Co. has a twelve month low of $40.47 and a twelve month high of $55.09.

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, topping analysts’ consensus estimates of $1.10 by $0.06. The business had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.64 billion. Devon Energy had a net margin of 22.27% and a return on equity of 29.02%. The business’s revenue was down 5.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.46 EPS. As a group, equities analysts expect that Devon Energy Co. will post 5.39 earnings per share for the current year.

Devon Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a $0.22 dividend. The ex-dividend date was Friday, June 14th. This represents a $0.88 annualized dividend and a yield of 1.91%. Devon Energy’s dividend payout ratio (DPR) is presently 16.79%.

Analyst Ratings Changes

DVN has been the topic of a number of research reports. Sanford C. Bernstein decreased their price target on shares of Devon Energy from $48.00 to $43.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 17th. JPMorgan Chase & Co. raised their price target on shares of Devon Energy from $62.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, July 8th. Stifel Nicolaus raised their target price on shares of Devon Energy from $65.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. UBS Group raised their target price on shares of Devon Energy from $48.00 to $57.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 10th. Finally, Citigroup raised their target price on shares of Devon Energy from $55.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. Six equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Devon Energy presently has an average rating of “Moderate Buy” and an average target price of $59.13.

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.