Oppenheimer & Co. Inc. Has $6.50 Million Stock Holdings in Devon Energy Corporation $DVN

Oppenheimer & Co. Inc. raised its stake in Devon Energy Corporation (NYSE:DVN) by 16.2% in the 2nd quarter, HoldingsChannel reports. The firm owned 157,313 shares of the energy company’s stock after acquiring an additional 21,940 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Devon Energy were worth $6,500,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. State Street Corp grew its stake in shares of Devon Energy by 0.6% in the 4th quarter. State Street Corp now owns 35,542,293 shares of the energy company’s stock valued at $1,301,914,000 after buying an additional 212,074 shares during the period. Geode Capital Management LLC raised its stake in Devon Energy by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 19,177,835 shares of the energy company’s stock worth $700,238,000 after buying an additional 186,743 shares during the period. Victory Capital Management Inc. boosted its holdings in Devon Energy by 17.5% in the fourth quarter. Victory Capital Management Inc. now owns 13,916,979 shares of the energy company’s stock worth $509,779,000 after acquiring an additional 2,071,021 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Devon Energy by 2.5% in the first quarter. Dimensional Fund Advisors LP now owns 9,606,131 shares of the energy company’s stock worth $483,475,000 after acquiring an additional 235,561 shares in the last quarter. Finally, Kimmeridge Energy Management Company LLC grew its stake in Devon Energy by 56.5% in the fourth quarter. Kimmeridge Energy Management Company LLC now owns 8,850,790 shares of the energy company’s stock valued at $324,204,000 after acquiring an additional 3,195,862 shares during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.

Insider Transactions at Devon Energy

In other news, SVP Andrea Alexander sold 18,000 shares of the company’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $46.74, for a total value of $841,320.00. Following the completion of the sale, the senior vice president owned 138,529 shares in the company, valued at $6,474,845.46. This represents a 11.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.58% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

DVN has been the topic of a number of research reports. Jefferies Financial Group upped their target price on Devon Energy from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday, May 18th. Zacks Research downgraded shares of Devon Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 27th. Susquehanna boosted their price target on shares of Devon Energy from $57.00 to $63.00 and gave the company a “positive” rating in a research note on Tuesday, July 21st. Barclays boosted their price target on shares of Devon Energy from $54.00 to $62.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. Finally, Mizuho upped their price objective on shares of Devon Energy from $62.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $59.60.

Devon Energy Stock Up 3.2%

DVN stock opened at $45.83 on Friday. The firm has a market capitalization of $50.41 billion, a PE ratio of 10.89 and a beta of 0.38. 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 twelve month low of $31.47 and a twelve month high of $52.71. The stock’s 50 day moving average is $43.40 and its 200-day moving average is $45.14.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Tuesday, August 4th. The energy company reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.17. The business had revenue of $7.42 billion during the quarter, compared to the consensus estimate of $6.01 billion. Devon Energy had a return on equity of 14.93% and a net margin of 16.67%.Devon Energy’s revenue was up 73.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.84 earnings per share. Sell-side analysts expect that Devon Energy Corporation will post 4.99 EPS for the current fiscal year.

Devon Energy Dividend Announcement

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 issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Tuesday, September 15th. Devon Energy’s payout ratio is currently 30.40%.

Devon Energy Company 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.