Devon Energy Corporation $DVN Shares Bought by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC raised its holdings in Devon Energy Corporation (NYSE:DVN) by 253.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 453,744 shares of the energy company’s stock after buying an additional 325,357 shares during the period. Janney Montgomery Scott LLC owned approximately 0.07% of Devon Energy worth $18,749,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of DVN. Pacer Advisors Inc. increased its position in shares of Devon Energy by 2,108.0% during the fourth quarter. Pacer Advisors Inc. now owns 6,386,921 shares of the energy company’s stock worth $233,953,000 after acquiring an additional 6,097,658 shares during the period. Panagora Asset Management Inc. boosted its holdings in Devon Energy by 42,376.5% in the fourth quarter. Panagora Asset Management Inc. now owns 3,609,228 shares of the energy company’s stock valued at $132,206,000 after purchasing an additional 3,600,731 shares during the period. Kimmeridge Energy Management Company LLC boosted its holdings in Devon Energy by 56.5% in the fourth quarter. Kimmeridge Energy Management Company LLC now owns 8,850,790 shares of the energy company’s stock valued at $324,204,000 after purchasing an additional 3,195,862 shares during the period. AQR Capital Management LLC grew its stake in Devon Energy by 78.7% during the 2nd quarter. AQR Capital Management LLC now owns 6,360,499 shares of the energy company’s stock worth $202,327,000 after purchasing an additional 2,802,137 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in Devon Energy by 92.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 5,180,682 shares of the energy company’s stock worth $260,692,000 after purchasing an additional 2,485,603 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Stock Performance

NYSE:DVN opened at $45.83 on Friday. Devon Energy Corporation has a 12 month low of $31.47 and a 12 month high of $52.71. 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 firm has a market capitalization of $50.41 billion, a PE ratio of 10.89 and a beta of 0.38. The business’s fifty day moving average price is $43.40 and its 200 day moving average price is $45.14.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Tuesday, August 4th. The energy company reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.40 by $0.17. The company had revenue of $7.42 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 73.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.84 EPS. On average, sell-side analysts anticipate that Devon Energy Corporation will post 4.99 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Tuesday, September 15th. Devon Energy’s dividend payout ratio (DPR) is 30.40%.

Insiders Place Their Bets

In related news, SVP Andrea Alexander sold 18,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $46.74, for a total transaction of $841,320.00. Following the completion of the sale, the senior vice president owned 138,529 shares in the company, valued at $6,474,845.46. The trade was a 11.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.58% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on DVN. Barclays upped their price target on Devon Energy from $54.00 to $62.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Evercore raised Devon Energy from an “in-line” rating to an “outperform” rating and set a $54.00 price objective for the company in a research report on Wednesday, June 10th. Capital One Financial cut their target price on shares of Devon Energy from $63.00 to $61.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 2nd. The Goldman Sachs Group cut their target price on shares of Devon Energy from $54.00 to $53.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Finally, UBS Group reduced their target price on shares of Devon Energy from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Wednesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $59.60.

About Devon Energy

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.