Devon Energy Corporation $DVN Shares Bought by Vontobel Holding Ltd.

Vontobel Holding Ltd. boosted its holdings in shares of Devon Energy Corporation (NYSE:DVN) by 69.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 29,614 shares of the energy company’s stock after buying an additional 12,124 shares during the period. Vontobel Holding Ltd.’s holdings in Devon Energy were worth $1,363,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in DVN. Morningstar Investment Management LLC grew its stake in Devon Energy by 51.1% in the 1st quarter. Morningstar Investment Management LLC now owns 86,151 shares of the energy company’s stock worth $4,335,000 after buying an additional 29,124 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Devon Energy in the 2nd quarter worth $33,504,000. Illinois Municipal Retirement Fund raised its position in shares of Devon Energy by 15.5% during the 1st quarter. Illinois Municipal Retirement Fund now owns 194,773 shares of the energy company’s stock valued at $9,801,000 after buying an additional 26,209 shares in the last quarter. NewEdge Wealth LLC raised its position in shares of Devon Energy by 20.0% during the 1st quarter. NewEdge Wealth LLC now owns 479,681 shares of the energy company’s stock valued at $24,138,000 after buying an additional 80,000 shares in the last quarter. Finally, Keeler Thomas Management LLC raised its position in shares of Devon Energy by 365.0% during the 2nd quarter. Keeler Thomas Management LLC now owns 121,064 shares of the energy company’s stock valued at $5,002,000 after buying an additional 95,028 shares in the last quarter. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Devon Energy

In other Devon Energy news, EVP Robert Ferrall Lowe III sold 6,756 shares of the business’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $50.95, for a total value of $344,218.20. Following the completion of the sale, the executive vice president directly owned 72,720 shares of the company’s stock, valued at $3,705,084. The trade was a 8.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Clay M. Gaspar purchased 3,913 shares of the stock in a transaction on Monday, September 14th. The stock was acquired at an average cost of $51.08 per share, with a total value of $199,876.04. Following the completion of the purchase, the chief executive officer directly owned 619,152 shares of the company’s stock, valued at $31,626,284.16. The trade was a 0.64% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 4.58% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Weiss Ratings upgraded shares of Devon Energy from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. UBS Group increased their target price on Devon Energy from $63.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, October 7th. Raymond James Financial raised their price target on Devon Energy from $64.00 to $67.00 and gave the company a “strong-buy” rating in a research report on Monday, September 14th. Citigroup raised their price target on Devon Energy from $65.00 to $67.00 and gave the company a “buy” rating in a research report on Monday, August 31st. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $67.00 price target on shares of Devon Energy in a research note on Tuesday, October 6th. Two analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Devon Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.72.

Devon Energy Stock Up 0.5%

Shares of NYSE DVN opened at $50.96 on Tuesday. Devon Energy Corporation has a one year low of $31.47 and a one year 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’s 50 day simple moving average is $48.18 and its two-hundred day simple moving average is $46.29. The stock has a market capitalization of $56.06 billion, a P/E ratio of 12.10, a PEG ratio of 1.34 and a beta of 0.49.

Devon Energy (NYSE:DVN) last posted its quarterly 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. The firm had revenue of $7.42 billion for the quarter, compared to the consensus estimate of $6.01 billion. Devon Energy had a net margin of 16.67% and a return on equity of 14.93%. The business’s revenue was up 73.1% compared to the same quarter last year. During the same period last year, the firm posted $0.84 earnings per share. As a group, analysts expect that Devon Energy Corporation will post 5.39 EPS for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $1.28 annualized dividend and a dividend yield of 2.5%. Devon Energy’s dividend payout ratio (DPR) is currently 30.40%.

Devon Energy Company Profile

Devon Energy Corporation (NYSE:DVN) is an independent energy company engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids. The company focuses on onshore operations in the United States and markets the hydrocarbons produced from its assets to customers across the energy sector.

Devon’s portfolio has historically included major U.S. resource plays such as the Delaware Basin in the Permian Basin, the Eagle Ford, the Anadarko Basin, the Williston Basin and the Powder River Basin.