Benjamin Edwards Inc. Has $1.12 Million Holdings in Devon Energy Corporation $DVN

Benjamin Edwards Inc. increased its position in shares of Devon Energy Corporation (NYSE:DVN) by 346.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,155 shares of the energy company’s stock after purchasing an additional 21,071 shares during the period. Benjamin Edwards Inc.’s holdings in Devon Energy were worth $1,122,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in Devon Energy in the 4th quarter valued at $25,000. JFS Wealth Advisors LLC raised 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 valued at $28,000 after buying an additional 245 shares in the last quarter. Parvin Asset Management LLC bought a new position in shares of Devon Energy during the 2nd quarter worth about $28,000. KERR FINANCIAL PLANNING Corp bought a new position in shares of Devon Energy during the 2nd quarter worth about $29,000. Finally, GoalVest Advisory LLC acquired a new stake in shares of Devon Energy during the 2nd quarter valued at about $30,000. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DVN has been the topic of a number of analyst reports. Citigroup upped their target price on shares of Devon Energy from $65.00 to $67.00 and gave the company a “buy” rating in a research note on Monday. Argus restated a “buy” rating and set a $45.85 price target on shares of Devon Energy in a research note on Monday, August 17th. The Goldman Sachs Group decreased their price objective on Devon Energy from $54.00 to $53.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Wolfe Research set a $67.00 price objective on Devon Energy and gave the company an “outperform” rating in a research note on Monday, June 22nd. Finally, Wall Street Zen upgraded Devon Energy from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $59.23.

Insider Buying and Selling at Devon Energy

In other news, SVP Andrea Alexander sold 18,000 shares of the firm’s 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 sale, the senior vice president owned 138,529 shares of the company’s stock, valued at approximately $6,474,845.46. This trade represents a 11.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 4.58% of the company’s stock.

Devon Energy Stock Up 1.2%

Shares of NYSE:DVN opened at $49.07 on Wednesday. Devon Energy Corporation has a 52 week low of $31.47 and a 52 week high of $52.71. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.67 and a current ratio of 0.72. The company’s fifty day moving average is $44.42 and its 200-day moving average is $45.70. The company has a market capitalization of $53.98 billion, a PE ratio of 11.66, a P/E/G ratio of 1.33 and a beta of 0.37.

Devon Energy (NYSE:DVN) last announced its 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. Devon Energy had a net margin of 16.67% and a return on equity of 14.93%. The business had revenue of $7.42 billion during the quarter, compared to analysts’ expectations of $6.01 billion. During the same quarter last year, the company posted $0.84 EPS. The firm’s revenue for the quarter was up 73.1% on a year-over-year basis. Equities research analysts predict that Devon Energy Corporation will post 5.2 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders 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 2.6%. The ex-dividend date of this dividend is Tuesday, September 15th. Devon Energy’s dividend payout ratio is currently 30.40%.

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.