156,808 Shares in Devon Energy Co. (NYSE:DVN) Purchased by RPG Investment Advisory LLC

RPG Investment Advisory LLC bought a new position in shares of Devon Energy Co. (NYSE:DVNFree Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 156,808 shares of the energy company’s stock, valued at approximately $7,936,000.

Several other institutional investors have also recently bought and sold shares of DVN. WFA of San Diego LLC acquired a new position in Devon Energy during the fourth quarter worth about $25,000. Tyler Stone Wealth Management acquired a new position in Devon Energy during the fourth quarter worth about $25,000. Clearview Wealth Advisors LLC acquired a new position in Devon Energy during the first quarter worth about $25,000. Canada Pension Plan Investment Board acquired a new position in Devon Energy during the first quarter worth about $26,000. Finally, Fortis Capital Advisors LLC acquired a new position in Devon Energy during the fourth quarter worth about $31,000. Institutional investors and hedge funds own 71.00% of the company’s stock.

Insider Activity at Devon Energy

In other Devon Energy news, EVP Dennis C. Cameron sold 7,870 shares of the stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $51.13, for a total value of $402,393.10. Following the transaction, the executive vice president now owns 210,548 shares in the company, valued at $10,765,319.24. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.63% of the stock is currently owned by corporate insiders.

Devon Energy Trading Down 0.1 %

Shares of Devon Energy stock traded down $0.04 on Tuesday, reaching $50.77. 6,881,984 shares of the company’s stock were exchanged, compared to its average volume of 9,152,728. The firm’s 50-day moving average is $49.74 and its two-hundred day moving average is $52.31. The company has a market capitalization of $32.53 billion, a P/E ratio of 6.95, a price-to-earnings-growth ratio of 0.18 and a beta of 2.32. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.90 and a current ratio of 0.98. Devon Energy Co. has a 52 week low of $44.03 and a 52 week high of $78.82.

Devon Energy (NYSE:DVNGet Free Report) last issued its earnings results on Tuesday, August 1st. The energy company reported $1.18 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.18. Devon Energy had a net margin of 28.10% and a return on equity of 37.89%. The business had revenue of $3.45 billion for the quarter, compared to analyst estimates of $3.26 billion. During the same period in the prior year, the firm earned $2.59 earnings per share. Devon Energy’s revenue was down 38.6% on a year-over-year basis. Sell-side analysts predict that Devon Energy Co. will post 5.41 EPS for the current fiscal year.

Devon Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a $0.49 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.96 annualized dividend and a dividend yield of 3.86%. Devon Energy’s dividend payout ratio is presently 10.94%.

Analyst Ratings Changes

Several research analysts have commented on the company. Truist Financial lowered their target price on Devon Energy from $69.00 to $63.00 and set a “buy” rating for the company in a research note on Thursday, August 3rd. Royal Bank of Canada lowered their price objective on Devon Energy from $63.00 to $60.00 and set a “sector perform” rating for the company in a research note on Thursday, July 13th. The Goldman Sachs Group raised Devon Energy from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $63.00 to $58.00 in a research note on Tuesday, June 13th. Morgan Stanley upped their price objective on Devon Energy from $49.00 to $50.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 18th. Finally, Raymond James lowered their price objective on Devon Energy from $70.00 to $62.00 and set a “strong-buy” rating for the company in a research note on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Devon Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.53.

Check Out Our Latest Report on DVN

About Devon Energy

(Free Report)

Devon Energy Corporation, an independent energy company, explores for, develops, and produces oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Anadarko, Williston, Eagle Ford, and Powder River Basin. The company was incorporated in 1971 and is headquartered in Oklahoma City, Oklahoma.

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Institutional Ownership by Quarter for Devon Energy (NYSE:DVN)