18,974 Shares in Devon Energy Corporation $DVN Bought by Sunesis Advisors LLC

Sunesis Advisors LLC acquired a new position in shares of Devon Energy Corporation (NYSE:DVN) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 18,974 shares of the energy company’s stock, valued at approximately $874,000. Devon Energy makes up approximately 0.5% of Sunesis Advisors LLC’s investment portfolio, making the stock its 13th biggest position.

Several other institutional investors have also modified their holdings of the stock. Financial Management Professionals Inc. raised its stake in Devon Energy by 119.0% during the 3rd quarter. Financial Management Professionals Inc. now owns 576 shares of the energy company’s stock worth $27,000 after acquiring an additional 313 shares in the last quarter. Premier Financial Group acquired a new position in Devon Energy in the second quarter valued at $25,000. JFS Wealth Advisors LLC boosted its stake in Devon Energy by 56.6% in the second quarter. JFS Wealth Advisors LLC now owns 678 shares of the energy company’s stock valued at $28,000 after acquiring an additional 245 shares in the last quarter. Parvin Asset Management LLC acquired a new position in Devon Energy in the second quarter valued at $28,000. Finally, KERR FINANCIAL PLANNING Corp purchased a new position in shares of Devon Energy during the second quarter worth about $29,000. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Up 0.5%

Devon Energy stock opened at $51.62 on Tuesday. The stock’s 50 day moving average price is $48.65 and its 200 day moving average price is $45.52. Devon Energy Corporation has a 1-year low of $31.65 and a 1-year high of $52.71. The company has a market cap of $56.79 billion, a PE ratio of 12.26, a price-to-earnings-growth ratio of 1.34 and a beta of 0.49. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.72 and a quick ratio of 0.67.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, August 4th. The energy company reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.17. The firm had revenue of $7.42 billion during the quarter, compared to analysts’ expectations of $6.01 billion. Devon Energy had a return on equity of 14.93% and a net margin of 16.67%. Devon Energy’s revenue was up 73.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.84 earnings per share. On average, sell-side analysts predict that Devon Energy Corporation will post 5.49 EPS for the current fiscal year.

Devon Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Tuesday, September 15th. Devon Energy’s payout ratio is presently 30.40%.

Insider Buying and Selling at Devon Energy

In related news, CEO Clay M. Gaspar purchased 3,913 shares of the business’s stock in a transaction dated Monday, September 14th. The stock was acquired at an average price of $51.08 per share, for a total transaction of $199,876.04. Following the acquisition, the chief executive officer directly owned 619,152 shares of the company’s stock, valued at $31,626,284.16. This trade represents a 0.64% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Robert Ferrall Lowe III sold 6,756 shares of the firm’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $50.95, for a total transaction of $344,218.20. Following the completion of the sale, the executive vice president owned 72,720 shares of the company’s stock, valued at $3,705,084. This trade represents a 8.50% decrease in their position. The disclosure for this sale is available in the SEC filing. 4.58% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Scotiabank began coverage on Devon Energy in a research report on Wednesday, October 14th. They set a “sector outperform” rating and a $61.00 target price on the stock. UBS Group raised their target price on shares of Devon Energy from $63.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, October 7th. Truist Financial dropped their price target on shares of Devon Energy from $65.00 to $61.00 and set a “buy” rating on the stock in a research note on Wednesday, October 7th. Seaport Research Partners started coverage on shares of Devon Energy in a report on Thursday, September 3rd. They set a “buy” rating and a $65.00 price target for the company. Finally, Susquehanna raised their price objective on shares of Devon Energy from $57.00 to $63.00 and gave the company a “positive” rating in a research report on Tuesday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $60.72.

Devon Energy Profile

Devon Energy Corporation (NYSE:DVN) is an independent energy company engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids. The company focuses on onshore operations in the United States and markets the hydrocarbons produced from its assets to customers across the energy sector.

Devon’s portfolio has historically included major U.S. resource plays such as the Delaware Basin in the Permian Basin, the Eagle Ford, the Anadarko Basin, the Williston Basin and the Powder River Basin.