Profund Advisors LLC Sells 15,275 Shares of Devon Energy Corporation $DVN

Profund Advisors LLC cut its stake in shares of Devon Energy Corporation (NYSE:DVN) by 25.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 45,643 shares of the energy company’s stock after selling 15,275 shares during the quarter. Profund Advisors LLC’s holdings in Devon Energy were worth $2,101,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vise Technologies Inc. grew its stake in Devon Energy by 15.1% during the third quarter. Vise Technologies Inc. now owns 71,401 shares of the energy company’s stock worth $3,287,000 after buying an additional 9,355 shares during the last quarter. Grandfield & Dodd LLC raised its stake in shares of Devon Energy by 0.7% in the third quarter. Grandfield & Dodd LLC now owns 356,690 shares of the energy company’s stock valued at $16,422,000 after acquiring an additional 2,580 shares during the last quarter. Unison Advisors LLC raised its stake in shares of Devon Energy by 0.8% in the third quarter. Unison Advisors LLC now owns 95,945 shares of the energy company’s stock valued at $4,417,000 after acquiring an additional 719 shares during the last quarter. Intrua Financial LLC boosted its holdings in shares of Devon Energy by 12.2% in the 3rd quarter. Intrua Financial LLC now owns 6,252 shares of the energy company’s stock worth $288,000 after acquiring an additional 680 shares in the last quarter. Finally, Aprio Wealth Management LLC boosted its holdings in shares of Devon Energy by 14.5% in the 3rd quarter. Aprio Wealth Management LLC now owns 10,328 shares of the energy company’s stock worth $476,000 after acquiring an additional 1,309 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on DVN shares. Citigroup raised their price target on Devon Energy from $65.00 to $67.00 and gave the company a “buy” rating in a report on Monday, August 31st. Argus reissued a “buy” rating and issued a $45.85 price target on shares of Devon Energy in a report on Monday, August 17th. Wells Fargo & Company dropped their price objective on shares of Devon Energy from $65.00 to $64.00 and set an “overweight” rating for the company in a research report on Monday, September 28th. Mizuho decreased their price objective on Devon Energy from $68.00 to $65.00 and set an “outperform” rating on the stock in a research report on Friday, October 16th. Finally, UBS Group increased their price objective on Devon Energy from $63.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, October 7th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.72.

Devon Energy Stock Up 0.1%

Shares of NYSE:DVN opened at $52.21 on Monday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.72 and a quick ratio of 0.67. The stock has a market cap of $57.43 billion, a price-to-earnings ratio of 12.40, a P/E/G ratio of 1.36 and a beta of 0.43. The company has a 50 day moving average of $48.90 and a 200-day moving average of $45.83. Devon Energy Corporation has a one year low of $31.91 and a one year high of $52.71.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, August 4th. The energy company reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.17. Devon Energy had a net margin of 16.67% and a return on equity of 14.93%. The business had revenue of $7.42 billion for the quarter, compared to analyst estimates of $6.01 billion. During the same period in the prior year, the business posted $0.84 earnings per share. Devon Energy’s revenue was up 73.1% compared to the same quarter last year. On average, sell-side analysts forecast that Devon Energy Corporation will post 5.49 earnings per share for the current 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 paid a $0.32 dividend. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $1.28 annualized dividend and a yield of 2.5%. Devon Energy’s dividend payout ratio is presently 30.40%.

Insider Activity

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

About Devon Energy

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.