Thoma Capital Management LLC Increases Stock Holdings in Devon Energy Corporation $DVN

Thoma Capital Management LLC boosted its holdings in shares of Devon Energy Corporation (NYSE:DVN) by 99.8% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 40,546 shares of the energy company’s stock after buying an additional 20,250 shares during the quarter. Devon Energy makes up approximately 0.9% of Thoma Capital Management LLC’s holdings, making the stock its 11th largest holding. Thoma Capital Management LLC’s holdings in Devon Energy were worth $1,675,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in Devon Energy in the fourth quarter worth about $25,000. JFS Wealth Advisors LLC increased its holdings in shares of Devon Energy by 56.6% during the second quarter. JFS Wealth Advisors LLC now owns 678 shares of the energy company’s stock valued at $28,000 after acquiring an additional 245 shares in the last quarter. MV Capital Management Inc. acquired a new position in shares of Devon Energy during the fourth quarter valued at about $29,000. KERR FINANCIAL PLANNING Corp purchased a new position in shares of Devon Energy in the 2nd quarter valued at approximately $29,000. Finally, Garton & Associates Financial Advisors LLC purchased a new position in shares of Devon Energy in the 4th quarter valued at approximately $29,000. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Devon Energy

In related news, SVP Andrea Alexander sold 18,000 shares of the stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $46.74, for a total value of $841,320.00. Following the completion of the transaction, the senior vice president directly owned 138,529 shares of the company’s stock, valued at approximately $6,474,845.46. This represents a 11.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.58% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on DVN. Barclays boosted their target price on shares of Devon Energy from $54.00 to $62.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Tudor Pickering raised shares of Devon Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, April 20th. Evercore upgraded shares of Devon Energy from an “in-line” rating to an “outperform” rating and set a $54.00 price objective for the company in a research note on Wednesday, June 10th. Jefferies Financial Group boosted their price objective on shares of Devon Energy from $62.00 to $63.00 and gave the company a “buy” rating in a report on Monday, May 18th. Finally, UBS Group cut their target price on Devon Energy from $58.00 to $54.00 and set a “buy” rating on the stock in a research report on Wednesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Devon Energy presently has an average rating of “Moderate Buy” and a consensus target price of $59.60.

Devon Energy Stock Down 0.8%

DVN stock opened at $44.48 on Friday. The stock has a market capitalization of $48.93 billion, a P/E ratio of 10.57 and a beta of 0.38. Devon Energy Corporation has a 52 week low of $31.47 and a 52 week high of $52.71. The firm has a 50-day simple moving average of $43.37 and a 200-day simple moving average of $45.13. 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 (NYSE:DVN) last posted its quarterly earnings data 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 company had revenue of $7.42 billion during the quarter, compared to analyst estimates of $6.01 billion. Devon Energy had a return on equity of 14.93% and a net margin of 16.67%.Devon Energy’s quarterly revenue was up 73.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.84 EPS. Equities analysts forecast that Devon Energy Corporation will post 4.95 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Tuesday, September 15th. Devon Energy’s payout ratio is presently 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.