16,402 Devon Energy Corporation $DVN Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC decreased its position in shares of Devon Energy Corporation (NYSE:DVN) by 6.3% in the 3rd quarter, Holdings Channel reports. The firm owned 245,721 shares of the energy company’s stock after selling 16,402 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Devon Energy were worth $11,313,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Premier Financial Group bought a new stake in shares of Devon Energy in the 2nd quarter valued at $25,000. JFS Wealth Advisors LLC raised its stake in Devon Energy by 56.6% during the second quarter. JFS Wealth Advisors LLC now owns 678 shares of the energy company’s stock worth $28,000 after buying an additional 245 shares during the last quarter. Parvin Asset Management LLC bought a new position in Devon Energy during the second quarter worth $28,000. KERR FINANCIAL PLANNING Corp bought a new position in Devon Energy during the second quarter worth $29,000. Finally, GoalVest Advisory LLC bought a new position in Devon Energy during the second quarter worth $30,000. Institutional investors and hedge funds own 69.72% of the company’s stock.

Insider Buying and Selling at Devon Energy

In other Devon Energy news, EVP Robert Ferrall Lowe III sold 6,756 shares of Devon Energy 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 approximately $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 accessible through this hyperlink. Also, CEO Clay Gaspar acquired 3,913 shares of the company’s stock in a transaction dated Monday, September 14th. The shares were bought at an average price of $51.08 per share, for a total transaction of $199,876.04. Following the acquisition, the chief executive officer directly owned 619,152 shares of the company’s stock, valued at approximately $31,626,284.16. This trade represents a 0.64% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 4.58% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on DVN. The Goldman Sachs Group dropped their target price on shares of Devon Energy from $54.00 to $53.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Susquehanna increased their price target on Devon Energy from $57.00 to $63.00 and gave the stock a “positive” rating in a report on Tuesday, July 21st. Weiss Ratings raised Devon Energy from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Raymond James Financial boosted their price objective on Devon Energy from $64.00 to $67.00 and gave the company a “strong-buy” rating in a research note on Monday, September 14th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $67.00 price objective 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $60.72.

Devon Energy Stock Performance

Shares of DVN stock opened at $49.16 on Friday. The firm has a 50 day moving average of $48.47 and a 200-day moving average of $46.30. The company has a market cap of $54.08 billion, a price-to-earnings ratio of 11.68, a price-to-earnings-growth ratio of 1.32 and a beta of 0.49. The company has a quick ratio of 0.67, a current ratio of 0.72 and a debt-to-equity ratio of 0.24. Devon Energy Corporation has a 52 week low of $31.65 and a 52 week high of $52.71.

Devon Energy (NYSE:DVN) last released its earnings results 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. Devon Energy had a net margin of 16.67% and a return on equity of 14.93%. The company had revenue of $7.42 billion for the quarter, compared to the consensus estimate of $6.01 billion. During the same quarter in the previous year, the company earned $0.84 EPS. Devon Energy’s quarterly revenue was up 73.1% compared to the same quarter last year. On average, equities analysts forecast that Devon Energy Corporation will post 5.39 earnings per share for the current year.

Devon Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Tuesday, September 15th. Devon Energy’s dividend payout ratio (DPR) is presently 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.