36,800 Shares in Devon Energy Corporation $DVN Acquired by iSAM Funds UK Ltd

iSAM Funds UK Ltd bought a new stake in Devon Energy Corporation (NYSE:DVN) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 36,800 shares of the energy company’s stock, valued at approximately $1,521,000. Devon Energy makes up about 1.1% of iSAM Funds UK Ltd’s portfolio, making the stock its 16th largest holding.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Devon Energy from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Truist Financial lifted their target price on shares of Devon Energy from $61.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Jefferies Financial Group boosted their target price on shares of Devon Energy from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday, May 18th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Devon Energy in a report on Wednesday, June 10th. Finally, Wolfe Research set a $67.00 price objective on shares of Devon Energy and gave the stock an “outperform” rating in a research note on Monday, June 22nd. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Devon Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.23.

Devon Energy Stock Performance

Shares of DVN stock opened at $49.03 on Thursday. Devon Energy Corporation has a 52-week low of $31.47 and a 52-week high of $52.71. The company has a quick ratio of 0.67, a current ratio of 0.72 and a debt-to-equity ratio of 0.24. The stock has a market cap of $53.93 billion, a PE ratio of 11.65, a price-to-earnings-growth ratio of 1.35 and a beta of 0.37. The business has a 50-day simple moving average of $44.54 and a 200-day simple moving average of $45.74.

Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, August 4th. The energy company reported $1.57 EPS for the quarter, topping the consensus estimate of $1.40 by $0.17. Devon Energy had a return on equity of 14.93% and a net margin of 16.67%.The firm had revenue of $7.42 billion for the quarter, compared to analyst estimates of $6.01 billion. During the same period last year, the company earned $0.84 earnings per share. Devon Energy’s revenue for the quarter was up 73.1% compared to the same quarter last year. On average, equities analysts expect that Devon Energy Corporation will post 5.2 EPS for the current year.

Devon Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.6%. Devon Energy’s dividend payout ratio (DPR) is presently 30.40%.

Insider Buying and Selling at Devon Energy

In other news, SVP Andrea Alexander sold 18,000 shares of Devon Energy stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $46.74, for a total transaction of $841,320.00. Following the completion of the transaction, the senior vice president directly owned 138,529 shares of the company’s stock, valued at $6,474,845.46. The trade was a 11.50% decrease in their position. 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 company insiders.

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.