Bogart Wealth LLC Sells 484 Shares of Devon Energy Corporation $DVN

Bogart Wealth LLC lowered its stake in shares of Devon Energy Corporation (NYSE:DVN) by 17.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,222 shares of the energy company’s stock after selling 484 shares during the quarter. Bogart Wealth LLC’s holdings in Devon Energy were worth $71,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of DVN. GAMMA Investing LLC raised its position in Devon Energy by 64.9% in the 1st quarter. GAMMA Investing LLC now owns 19,428 shares of the energy company’s stock worth $727,000 after purchasing an additional 7,648 shares during the period. Envestnet Portfolio Solutions Inc. bought a new position in shares of Devon Energy during the first quarter valued at approximately $385,000. Advisor Resource Council purchased a new stake in shares of Devon Energy in the first quarter worth approximately $253,000. Kentucky Retirement Systems Insurance Trust Fund lifted its stake in shares of Devon Energy by 34.0% during the 1st quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 18,112 shares of the energy company’s stock worth $677,000 after acquiring an additional 4,597 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its stake in shares of Devon Energy by 17.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 294,858 shares of the energy company’s stock worth $11,028,000 after acquiring an additional 44,601 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Kelt Kindick sold 7,685 shares of Devon Energy stock in a transaction on Monday, August 11th. The stock was sold at an average price of $33.46, for a total value of $257,140.10. Following the transaction, the director directly owned 31,801 shares in the company, valued at approximately $1,064,061.46. This trade represents a 19.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.73% of the company’s stock.

Devon Energy Trading Up 0.4%

NYSE DVN opened at $32.07 on Wednesday. Devon Energy Corporation has a one year low of $25.89 and a one year high of $40.54. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.22. The company has a market capitalization of $20.36 billion, a price-to-earnings ratio of 7.19, a price-to-earnings-growth ratio of 1.88 and a beta of 1.03. The company’s 50-day simple moving average is $34.48 and its two-hundred day simple moving average is $32.92.

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

Devon Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Monday, September 15th. Devon Energy’s dividend payout ratio (DPR) is 21.52%.

Analyst Upgrades and Downgrades

DVN has been the topic of several research analyst reports. Piper Sandler cut their price objective on Devon Energy from $58.00 to $57.00 and set an “overweight” rating on the stock in a research report on Thursday, August 14th. Bernstein Bank cut their price target on shares of Devon Energy from $45.00 to $43.00 and set an “outperform” rating on the stock in a report on Monday, July 7th. Siebert Williams Shank decreased their price objective on shares of Devon Energy from $52.00 to $46.00 and set a “buy” rating for the company in a report on Monday, October 13th. Weiss Ratings reissued a “hold (c-)” rating on shares of Devon Energy in a research report on Wednesday, October 8th. Finally, Susquehanna reduced their target price on shares of Devon Energy to $41.00 and set a “positive” rating on the stock in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $43.14.

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.