Devon Energy Co. (NYSE:DVN) Shares Bought by KMG Fiduciary Partners LLC

KMG Fiduciary Partners LLC grew its stake in Devon Energy Co. (NYSE:DVN) by 6.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 32,910 shares of the energy company’s stock after purchasing an additional 2,078 shares during the quarter. KMG Fiduciary Partners LLC’s holdings in Devon Energy were worth $1,651,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Creekmur Asset Management LLC acquired a new stake in shares of Devon Energy during the fourth quarter worth $791,000. Wahed Invest LLC raised its stake in Devon Energy by 6.3% during the fourth quarter. Wahed Invest LLC now owns 10,944 shares of the energy company’s stock worth $496,000 after acquiring an additional 648 shares during the period. DekaBank Deutsche Girozentrale lifted its holdings in Devon Energy by 39.0% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 197,726 shares of the energy company’s stock worth $9,008,000 after acquiring an additional 55,459 shares during the last quarter. L. Roy Papp & Associates LLP acquired a new position in Devon Energy in the fourth quarter valued at approximately $287,000. Finally, Principal Securities Inc. bought a new position in shares of Devon Energy during the fourth quarter valued at approximately $702,000. Institutional investors own 69.72% of the company’s stock.

Insider Activity

In other Devon Energy news, EVP Tana K. Cashion sold 20,000 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $51.04, for a total transaction of $1,020,800.00. Following the sale, the executive vice president now owns 104,182 shares in the company, valued at approximately $5,317,449.28. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.73% of the stock is currently owned by company insiders.

Devon Energy Price Performance

Shares of NYSE DVN opened at $45.82 on Friday. Devon Energy Co. has a twelve month low of $40.47 and a twelve month high of $55.09. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 0.46. The firm has a 50-day moving average of $49.21 and a two-hundred day moving average of $46.77. The company has a market capitalization of $28.96 billion, a price-to-earnings ratio of 8.74, a PEG ratio of 1.22 and a beta of 2.08.

Devon Energy (NYSE:DVN) last issued its earnings results on Wednesday, May 1st. The energy company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.06. The firm had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.64 billion. Devon Energy had a net margin of 22.27% and a return on equity of 29.02%. The firm’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same period last year, the firm posted $1.46 earnings per share. As a group, analysts expect that Devon Energy Co. will post 5.24 earnings per share for the current fiscal year.

Devon Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.92%. The ex-dividend date is Friday, June 14th. Devon Energy’s dividend payout ratio is 16.79%.

Analyst Upgrades and Downgrades

DVN has been the topic of a number of recent research reports. Scotiabank raised their target price on Devon Energy from $53.00 to $67.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th. Royal Bank of Canada upped their target price on shares of Devon Energy from $55.00 to $57.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 9th. Stifel Nicolaus lifted their price target on Devon Energy from $65.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd. Wells Fargo & Company upgraded Devon Energy from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $46.00 to $59.00 in a research report on Monday, April 1st. Finally, Citigroup boosted their price target on Devon Energy from $55.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $59.24.

Devon Energy Profile

Devon Energy Corporation, an independent energy company, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Eagle Ford, Anadarko, Williston, and Powder River Basins. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.