23,628 Shares in Devon Energy Corporation $DVN Acquired by WNY Asset Management LLC

WNY Asset Management LLC bought a new stake in shares of Devon Energy Corporation (NYSE:DVN) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 23,628 shares of the energy company’s stock, valued at approximately $976,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in shares of Devon Energy during the 4th quarter worth $25,000. JFS Wealth Advisors LLC increased its stake in shares of Devon Energy by 56.6% in the 2nd quarter. JFS Wealth Advisors LLC now owns 678 shares of the energy company’s stock worth $28,000 after purchasing an additional 245 shares in the last quarter. Parvin Asset Management LLC bought a new position in Devon Energy in the 2nd quarter worth $28,000. KERR FINANCIAL PLANNING Corp purchased a new position in Devon Energy during the second quarter valued at $29,000. Finally, GoalVest Advisory LLC bought a new stake in Devon Energy during the second quarter valued at about $30,000. 69.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Weiss Ratings downgraded Devon Energy from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday. Susquehanna raised their target price on shares of Devon Energy from $57.00 to $63.00 and gave the stock a “positive” rating in a research note on Tuesday, July 21st. Citigroup raised their target price on shares of Devon Energy from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, May 20th. Wells Fargo & Company lowered their price target on shares of Devon Energy from $68.00 to $65.00 and set an “overweight” rating on the stock in a report on Thursday, August 13th. Finally, Argus reissued a “buy” rating and issued a $45.85 price objective on shares of Devon Energy in a research note on Monday, August 17th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $59.15.

Devon Energy Stock Up 0.7%

NYSE DVN opened at $47.16 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 current ratio of 0.72, a quick ratio of 0.67 and a debt-to-equity ratio of 0.24. The stock has a market cap of $51.88 billion, a PE ratio of 11.20, a P/E/G ratio of 1.29 and a beta of 0.38. The stock’s 50 day moving average is $44.09 and its 200 day moving average is $45.61.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, August 4th. The energy company reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.17. The business had revenue of $7.42 billion during the quarter, compared to analyst estimates of $6.01 billion. Devon Energy had a net margin of 16.67% and a return on equity of 14.93%. The company’s revenue was up 73.1% on a year-over-year basis. During the same period last year, the firm posted $0.84 EPS. Research analysts predict that Devon Energy Corporation will post 5.2 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Tuesday, September 15th. Devon Energy’s dividend payout ratio (DPR) is presently 30.40%.

Insider Transactions at Devon Energy

In other Devon Energy news, SVP Andrea Alexander sold 18,000 shares of Devon Energy stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $46.74, for a total value of $841,320.00. Following the sale, the senior vice president directly owned 138,529 shares in the company, valued at approximately $6,474,845.46. The trade was a 11.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 4.58% of the company’s stock.

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.