Devon Energy Corp (NYSE:DVN) EVP Lyndon C. Taylor sold 18,357 shares of the firm’s stock in a transaction that occurred on Monday, June 11th. The stock was sold at an average price of $42.09, for a total transaction of $772,646.13. Following the sale, the executive vice president now owns 95,223 shares of the company’s stock, valued at $4,007,936.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Devon Energy traded up $0.11, hitting $42.27, during midday trading on Monday, according to Marketbeat. 6,867,930 shares of the company’s stock traded hands, compared to its average volume of 7,698,225. The firm has a market cap of $22.07 billion, a PE ratio of 67.10, a PEG ratio of 4.22 and a beta of 2.19. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.04 and a current ratio of 1.04. Devon Energy Corp has a one year low of $28.79 and a one year high of $45.16.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, May 1st. The energy company reported $0.20 earnings per share for the quarter, meeting the consensus estimate of $0.20. The firm had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.85 billion. Devon Energy had a net margin of 4.49% and a return on equity of 5.68%. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.07 earnings per share. sell-side analysts anticipate that Devon Energy Corp will post 1.43 earnings per share for the current fiscal year.

Devon Energy declared that its board has approved a share buyback plan on Wednesday, March 7th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the energy company to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 14th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend is Thursday, September 13th. Devon Energy’s dividend payout ratio is 38.10%.

Several large investors have recently added to or reduced their stakes in the company. Verition Fund Management LLC raised its position in shares of Devon Energy by 24.7% in the first quarter. Verition Fund Management LLC now owns 6,300 shares of the energy company’s stock valued at $200,000 after purchasing an additional 1,249 shares during the period. Blair William & Co. IL raised its position in shares of Devon Energy by 5.5% in the first quarter. Blair William & Co. IL now owns 24,811 shares of the energy company’s stock valued at $789,000 after purchasing an additional 1,283 shares during the period. Crossmark Global Holdings Inc. raised its position in shares of Devon Energy by 2.4% in the fourth quarter. Crossmark Global Holdings Inc. now owns 56,676 shares of the energy company’s stock valued at $2,346,000 after purchasing an additional 1,344 shares during the period. Intrust Bank NA raised its position in shares of Devon Energy by 15.9% in the fourth quarter. Intrust Bank NA now owns 10,573 shares of the energy company’s stock valued at $438,000 after purchasing an additional 1,451 shares during the period. Finally, Dupont Capital Management Corp raised its position in shares of Devon Energy by 48.5% in the first quarter. Dupont Capital Management Corp now owns 4,660 shares of the energy company’s stock valued at $148,000 after purchasing an additional 1,523 shares during the period. 83.13% of the stock is currently owned by institutional investors.

Several analysts recently commented on DVN shares. Susquehanna Bancshares restated a “positive” rating and set a $50.00 price target (down from $53.00) on shares of Devon Energy in a report on Wednesday, February 21st. Sanford C. Bernstein restated a “hold” rating and set a $35.00 price target (down from $47.00) on shares of Devon Energy in a report on Thursday, February 22nd. KLR Group upgraded shares of Devon Energy from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a report on Friday, February 23rd. Royal Bank of Canada set a $43.00 price target on shares of Devon Energy and gave the stock a “buy” rating in a report on Friday, February 23rd. Finally, BMO Capital Markets restated a “buy” rating and set a $50.00 price target on shares of Devon Energy in a report on Tuesday, February 27th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have assigned a buy rating to the company. Devon Energy currently has an average rating of “Buy” and a consensus price target of $45.76.

Devon Energy Company Profile

Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States and Canada. It operates approximately 14,600 gross wells. The company also offers gathering, transmission, processing, storage, fractionation, and marketing to upstream oil and natural gas producers; and owns natural gas pipelines, plants and treatment facilities.

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