Citizens National Bank Trust Department Sells 1,102 Shares of Devon Energy Corporation $DVN

Citizens National Bank Trust Department trimmed its holdings in shares of Devon Energy Corporation (NYSE:DVN) by 5.2% during the second quarter, HoldingsChannel reports. The firm owned 20,281 shares of the energy company’s stock after selling 1,102 shares during the quarter. Citizens National Bank Trust Department’s holdings in Devon Energy were worth $645,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in DVN. Banque Cantonale Vaudoise bought a new stake in Devon Energy in the 1st quarter valued at about $26,000. Financial Gravity Asset Management Inc. purchased a new position in Devon Energy during the 1st quarter valued at about $26,000. Opal Wealth Advisors LLC purchased a new position in shares of Devon Energy during the second quarter worth about $25,000. Rakuten Securities Inc. grew its holdings in shares of Devon Energy by 94.6% during the first quarter. Rakuten Securities Inc. now owns 833 shares of the energy company’s stock worth $31,000 after purchasing an additional 405 shares in the last quarter. Finally, Trust Co. of Vermont grew its holdings in shares of Devon Energy by 241.3% during the second quarter. Trust Co. of Vermont now owns 942 shares of the energy company’s stock worth $30,000 after purchasing an additional 666 shares in the last quarter. 69.72% of the stock is currently owned by institutional investors.

Devon Energy Stock Performance

NYSE:DVN opened at $34.95 on Wednesday. The business has a 50 day moving average of $34.47 and a 200 day moving average of $33.14. The company has a market capitalization of $22.18 billion, a price-to-earnings ratio of 7.84, a PEG ratio of 2.03 and a beta of 1.03. Devon Energy Corporation has a 1-year low of $25.89 and a 1-year high of $43.29. 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 announced its quarterly earnings data on Tuesday, August 5th. The energy company reported $0.84 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $4.01 billion. During the same quarter in the previous year, the company posted $1.41 earnings per share. The business’s revenue was up 9.4% on a year-over-year basis. On average, sell-side analysts predict that Devon Energy Corporation will post 4.85 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were given a $0.24 dividend. The ex-dividend date was Monday, September 15th. This represents a $0.96 annualized dividend and a yield of 2.7%. Devon Energy’s payout ratio is presently 21.52%.

Analyst Ratings Changes

Several brokerages have recently commented on DVN. Tudor, Pickering, Holt & Co. boosted their price objective on Devon Energy from $42.00 to $44.00 in a report on Thursday, July 3rd. Wells Fargo & Company boosted their price objective on Devon Energy from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Tuesday, August 12th. Raymond James Financial reissued an “outperform” rating and set a $45.00 price objective (up previously from $40.00) on shares of Devon Energy in a report on Tuesday, July 22nd. UBS Group boosted their target price on Devon Energy from $37.00 to $40.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 20th. Finally, Evercore ISI boosted their target price on Devon Energy from $34.00 to $37.00 and gave the stock an “in-line” rating in a research report on Monday. Sixteen research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $43.48.

Insiders Place Their Bets

In related news, Director Kelt Kindick sold 7,685 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director owned 31,801 shares in the company, valued at $1,064,061.46. This represents a 19.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.