Janney Montgomery Scott LLC Decreases Stake in Devon Energy Corporation $DVN

Janney Montgomery Scott LLC trimmed its holdings in shares of Devon Energy Corporation (NYSE:DVN) by 20.5% during the first quarter, Holdings Channel reports. The fund owned 128,387 shares of the energy company’s stock after selling 33,190 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Devon Energy were worth $6,460,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Woodline Partners LP boosted its stake in shares of Devon Energy by 98.8% during the 1st quarter. Woodline Partners LP now owns 115,780 shares of the energy company’s stock valued at $4,330,000 after buying an additional 57,555 shares during the last quarter. Sivia Capital Partners LLC bought a new position in Devon Energy during the 2nd quarter valued at $403,000. Jump Financial LLC grew its holdings in Devon Energy by 58.8% during the 2nd quarter. Jump Financial LLC now owns 28,251 shares of the energy company’s stock worth $899,000 after acquiring an additional 10,464 shares in the last quarter. Daiwa Securities Group Inc. increased its position in shares of Devon Energy by 17.8% in the 2nd quarter. Daiwa Securities Group Inc. now owns 148,882 shares of the energy company’s stock worth $4,736,000 after purchasing an additional 22,482 shares during the last quarter. Finally, NewEdge Advisors LLC raised its stake in shares of Devon Energy by 6.0% in the 2nd quarter. NewEdge Advisors LLC now owns 144,174 shares of the energy company’s stock valued at $4,586,000 after purchasing an additional 8,127 shares in the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Insider Buying and Selling at Devon Energy

In other news, SVP Andrea Alexander sold 18,000 shares of the company’s stock in a transaction dated 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 owned 138,529 shares in the company, valued at approximately $6,474,845.46. This represents a 11.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Adam M. Vela sold 24,342 shares of the stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $47.21, for a total transaction of $1,149,185.82. Following the completion of the sale, the senior vice president directly owned 130,540 shares in the company, valued at approximately $6,162,793.40. This trade represents a 15.72% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 112,371 shares of company stock worth $5,258,059. 4.58% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on DVN shares. Raymond James Financial decreased their price target on Devon Energy from $72.00 to $66.00 and set a “strong-buy” rating for the company in a research note on Monday, June 15th. Royal Bank Of Canada boosted their price target on Devon Energy from $46.00 to $59.00 and gave the company a “sector perform” rating in a report on Wednesday, April 8th. Scotiabank raised their price objective on Devon Energy from $41.00 to $46.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 22nd. Argus lifted their price objective on shares of Devon Energy from $51.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, June 10th. Finally, Tudor Pickering raised shares of Devon Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, April 20th. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $59.38.

Devon Energy Stock Down 0.1%

Shares of Devon Energy stock opened at $40.44 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.94 and a debt-to-equity ratio of 0.48. The business’s 50 day simple moving average is $45.53 and its 200-day simple moving average is $43.61. The stock has a market capitalization of $25.13 billion, a price-to-earnings ratio of 11.26 and a beta of 0.38. Devon Energy Corporation has a twelve month low of $31.45 and a twelve month high of $52.71.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Tuesday, May 5th. The energy company reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.02). Devon Energy had a return on equity of 15.22% and a net margin of 13.71%.The company had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $4.34 billion. During the same period last year, the business posted $0.82 EPS. The company’s revenue for the quarter was down 14.5% on a year-over-year basis. Equities research analysts forecast that Devon Energy Corporation will post 4.85 earnings per share for the current year.

Devon Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a $0.32 dividend. The ex-dividend date was Monday, June 15th. This is a positive change from Devon Energy’s previous quarterly dividend of $0.24. This represents a $1.28 dividend on an annualized basis and a yield of 3.2%. Devon Energy’s dividend payout ratio (DPR) is 35.65%.

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.