Devon Energy (NYSE:DVN) SVP Adam Vela Sells 24,342 Shares

Devon Energy Corporation (NYSE:DVN) SVP Adam Vela sold 24,342 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $47.21, for a total transaction of $1,149,185.82. Following the transaction, the senior vice president directly owned 130,540 shares in the company, valued at approximately $6,162,793.40. This trade represents a 15.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

Devon Energy Stock Performance

Shares of NYSE:DVN opened at $49.55 on Friday. The firm has a market cap of $30.79 billion, a PE ratio of 13.80, a price-to-earnings-growth ratio of 0.76 and a beta of 0.43. The firm’s 50 day simple moving average is $47.75 and its 200-day simple moving average is $41.38. Devon Energy Corporation has a one year low of $30.24 and a one year high of $52.71. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.94 and a current ratio of 1.01.

Devon Energy (NYSE:DVN) last issued its earnings results on Tuesday, May 5th. The energy company reported $1.04 EPS for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.02). Devon Energy had a return on equity of 15.22% and a net margin of 13.71%.The company had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $4.34 billion. During the same period last year, the business posted $0.82 earnings per share. The business’s revenue was down 14.5% compared to the same quarter last year. As a group, equities analysts predict that Devon Energy Corporation will post 5.39 EPS for the current year.

Devon Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.6%. This is a boost from Devon Energy’s previous quarterly dividend of $0.24. The ex-dividend date is Monday, June 15th. Devon Energy’s dividend payout ratio (DPR) is 26.74%.

Analyst Ratings Changes

A number of research firms have commented on DVN. Evercore began coverage on Devon Energy in a research note on Friday. They issued an “in-line” rating and a $54.00 price target for the company. Barclays increased their price target on Devon Energy from $52.00 to $54.00 and gave the company an “overweight” rating in a research note on Monday, March 16th. Weiss Ratings upgraded Devon Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, January 28th. Mizuho lifted their price objective on shares of Devon Energy from $51.00 to $62.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 17th. Finally, Tudor Pickering upgraded shares of Devon Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 20th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $56.41.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Wedge Capital Management L L P NC acquired a new stake in shares of Devon Energy in the fourth quarter valued at about $9,931,000. Allianz Asset Management GmbH boosted its position in Devon Energy by 4.3% during the third quarter. Allianz Asset Management GmbH now owns 833,155 shares of the energy company’s stock worth $29,210,000 after acquiring an additional 33,974 shares during the last quarter. Investors Research Corp boosted its position in Devon Energy by 13,787.5% during the fourth quarter. Investors Research Corp now owns 27,775 shares of the energy company’s stock worth $1,017,000 after acquiring an additional 27,575 shares during the last quarter. Philip James Wealth Mangement LLC boosted its position in Devon Energy by 43.8% during the fourth quarter. Philip James Wealth Mangement LLC now owns 161,368 shares of the energy company’s stock worth $5,911,000 after acquiring an additional 49,115 shares during the last quarter. Finally, Greatmark Investment Partners Inc. boosted its position in Devon Energy by 5.6% during the third quarter. Greatmark Investment Partners Inc. now owns 571,925 shares of the energy company’s stock worth $20,052,000 after acquiring an additional 30,435 shares during the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Devon Energy Company Profile

Devon Energy Corporation (NYSE: DVN) is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.

Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.