Devon Energy Corporation $DVN Shares Sold by Michels Family Financial LLC

Michels Family Financial LLC reduced its position in shares of Devon Energy Corporation (NYSE:DVN) by 9.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,920 shares of the energy company’s stock after selling 1,067 shares during the period. Michels Family Financial LLC’s holdings in Devon Energy were worth $316,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. SVB Wealth LLC boosted its position in shares of Devon Energy by 4.1% during the first quarter. SVB Wealth LLC now owns 8,131 shares of the energy company’s stock worth $304,000 after buying an additional 321 shares during the period. Whittier Trust Co. lifted its stake in Devon Energy by 24.3% during the 1st quarter. Whittier Trust Co. now owns 1,927 shares of the energy company’s stock worth $72,000 after acquiring an additional 377 shares in the last quarter. Callan Family Office LLC lifted its position in shares of Devon Energy by 3.7% during the first quarter. Callan Family Office LLC now owns 10,581 shares of the energy company’s stock worth $396,000 after purchasing an additional 377 shares in the last quarter. Hager Investment Management Services LLC boosted its position in Devon Energy by 9.9% in the 1st quarter. Hager Investment Management Services LLC now owns 4,235 shares of the energy company’s stock valued at $158,000 after buying an additional 380 shares during the period. Finally, Private Advisor Group LLC increased its position in shares of Devon Energy by 0.4% during the first quarter. Private Advisor Group LLC now owns 92,211 shares of the energy company’s stock worth $3,449,000 after acquiring an additional 386 shares during the period. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. UBS Group increased their price objective on Devon Energy from $37.00 to $40.00 and gave the company a “neutral” rating in a research note on Wednesday, August 20th. Jefferies Financial Group increased their price target on Devon Energy from $31.00 to $33.00 and gave the company a “hold” rating in a research report on Monday, July 14th. Bernstein Bank lowered their price target on shares of Devon Energy from $45.00 to $43.00 and set an “outperform” rating for the company in a report on Monday, July 7th. JPMorgan Chase & Co. increased their price objective on Devon Energy from $40.00 to $42.00 and gave the company a “neutral” rating in a report on Tuesday, July 8th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Devon Energy in a research report on Friday, July 11th. Sixteen equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $44.04.

Devon Energy Stock Performance

Shares of Devon Energy stock opened at $36.97 on Friday. The firm’s fifty day simple moving average is $34.23 and its 200-day simple moving average is $33.16. Devon Energy Corporation has a 12 month low of $25.89 and a 12 month high of $43.29. The stock has a market capitalization of $23.47 billion, a price-to-earnings ratio of 8.29, a PEG ratio of 2.14 and a beta of 1.09. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.22 and a quick ratio of 1.13.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, August 5th. The energy company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.01. The firm had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.01 billion. Devon Energy had a return on equity of 18.59% and a net margin of 16.57%.The business’s revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the company posted $1.41 earnings per share. As a group, equities analysts forecast that Devon Energy Corporation will post 4.85 earnings per share for the current year.

Devon Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Monday, September 15th. Devon Energy’s dividend payout ratio (DPR) is presently 21.52%.

Insider Transactions at Devon Energy

In other Devon Energy news, Director Kelt Kindick sold 7,685 shares of the business’s stock in a transaction on Monday, August 11th. The stock was sold at an average price of $33.46, for a total transaction of $257,140.10. Following the sale, the director directly owned 31,801 shares in the company, valued at approximately $1,064,061.46. The trade was a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.71% 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.