20,835 Shares in Devon Energy Corporation $DVN Purchased by Total Wealth Planning & Management Inc.

Total Wealth Planning & Management Inc. acquired a new position in Devon Energy Corporation (NYSE:DVN) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 20,835 shares of the energy company’s stock, valued at approximately $763,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. TD Private Client Wealth LLC lifted its stake in Devon Energy by 3.4% in the fourth quarter. TD Private Client Wealth LLC now owns 7,152 shares of the energy company’s stock worth $262,000 after acquiring an additional 236 shares during the period. Catalyst Financial Partners LLC lifted its position in shares of Devon Energy by 3.9% during the fourth quarter. Catalyst Financial Partners LLC now owns 6,712 shares of the energy company’s stock valued at $246,000 after buying an additional 254 shares during the last quarter. Cary Street Partners Investment Advisory LLC lifted its position in shares of Devon Energy by 21.0% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 1,480 shares of the energy company’s stock valued at $54,000 after buying an additional 257 shares during the last quarter. Murphy Pohlad Asset Management LLC lifted its position in shares of Devon Energy by 0.3% during the fourth quarter. Murphy Pohlad Asset Management LLC now owns 113,537 shares of the energy company’s stock valued at $4,159,000 after buying an additional 295 shares during the last quarter. Finally, Aprio Wealth Management LLC lifted its position in shares of Devon Energy by 4.1% during the third quarter. Aprio Wealth Management LLC now owns 7,521 shares of the energy company’s stock valued at $264,000 after buying an additional 297 shares during the last quarter. 69.72% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Jeffrey L. Ritenour sold 70,029 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $46.66, for a total transaction of $3,267,553.14. Following the transaction, the executive vice president owned 428,452 shares in the company, valued at $19,991,570.32. This represents a 14.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Adam M. Vela sold 24,342 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $47.21, for a total transaction of $1,149,185.82. Following the transaction, the senior vice president owned 130,540 shares in the company, valued at approximately $6,162,793.40. This trade represents a 15.72% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 4.58% of the company’s stock.

Devon Energy Stock Performance

DVN opened at $45.98 on Friday. Devon Energy Corporation has a 52-week low of $31.32 and a 52-week high of $52.71. The company has a quick ratio of 0.94, a current ratio of 1.01 and a debt-to-equity ratio of 0.48. The company has a market cap of $28.57 billion, a P/E ratio of 12.81 and a beta of 0.37. The firm’s 50-day moving average price is $47.73 and its 200-day moving average price is $42.74.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, May 5th. The energy company reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.02). Devon Energy had a net margin of 13.71% and a return on equity of 15.22%. The company had revenue of $3.81 billion for the quarter, compared to analyst estimates of $4.34 billion. During the same quarter last year, the company earned $0.82 EPS. The business’s revenue was down 14.5% compared to the same quarter last year. As a group, equities analysts anticipate that Devon Energy Corporation will post 4.47 EPS for the current fiscal year.

Devon Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.8%. This is an increase from Devon Energy’s previous quarterly dividend of $0.24. The ex-dividend date is Monday, June 15th. Devon Energy’s dividend payout ratio is currently 26.74%.

Wall Street Analysts Forecast Growth

Several analysts have commented on DVN shares. Scotiabank increased their price target on shares of Devon Energy from $41.00 to $46.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. Barclays increased their price target on shares of Devon Energy from $54.00 to $62.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. TD Cowen increased their price target on shares of Devon Energy from $46.00 to $50.00 and gave the company a “hold” rating in a research report on Tuesday, March 17th. Capital One Financial decreased their price target on shares of Devon Energy from $63.00 to $61.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, Sanford C. Bernstein increased their price target on shares of Devon Energy from $42.00 to $59.00 and gave the company an “outperform” rating in a research report on Monday, April 13th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $57.89.

Devon Energy 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.