Wetherby Asset Management Inc. Has $2.64 Million Holdings in Devon Energy Co. (NYSE:DVN)

Wetherby Asset Management Inc. increased its stake in Devon Energy Co. (NYSE:DVNGet Rating) by 4.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 44,676 shares of the energy company’s stock after purchasing an additional 1,790 shares during the period. Wetherby Asset Management Inc.’s holdings in Devon Energy were worth $2,642,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DVN. Quadrant Capital Group LLC boosted its stake in shares of Devon Energy by 2.3% during the 1st quarter. Quadrant Capital Group LLC now owns 7,515 shares of the energy company’s stock worth $445,000 after buying an additional 169 shares during the last quarter. Trustcore Financial Services LLC raised its holdings in shares of Devon Energy by 16.7% in the 1st quarter. Trustcore Financial Services LLC now owns 1,225 shares of the energy company’s stock valued at $72,000 after purchasing an additional 175 shares during the period. Private Advisor Group LLC raised its holdings in shares of Devon Energy by 0.3% in the 1st quarter. Private Advisor Group LLC now owns 56,111 shares of the energy company’s stock valued at $3,318,000 after purchasing an additional 175 shares during the period. Gotham Asset Management LLC raised its holdings in shares of Devon Energy by 1.0% in the 4th quarter. Gotham Asset Management LLC now owns 18,612 shares of the energy company’s stock valued at $820,000 after purchasing an additional 187 shares during the period. Finally, CVA Family Office LLC raised its holdings in shares of Devon Energy by 15.2% in the 1st quarter. CVA Family Office LLC now owns 1,442 shares of the energy company’s stock valued at $85,000 after purchasing an additional 190 shares during the period. 79.19% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Devon Energy

In other Devon Energy news, Director Ann G. Fox sold 2,150 shares of the firm’s stock in a transaction that occurred on Monday, June 13th. The shares were sold at an average price of $70.27, for a total value of $151,080.50. Following the sale, the director now owns 26,858 shares in the company, valued at $1,887,311.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Ann G. Fox sold 2,150 shares of the firm’s stock in a transaction on Monday, June 13th. The shares were sold at an average price of $70.27, for a total transaction of $151,080.50. Following the completion of the transaction, the director now owns 26,858 shares of the company’s stock, valued at $1,887,311.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Dennis C. Cameron sold 4,537 shares of the firm’s stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $53.55, for a total transaction of $242,956.35. Following the transaction, the executive vice president now directly owns 270,269 shares of the company’s stock, valued at approximately $14,472,904.95. The disclosure for this sale can be found here. Company insiders own 0.80% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on DVN. Morgan Stanley upped their target price on shares of Devon Energy from $67.00 to $69.00 and gave the company an “equal weight” rating in a report on Monday, August 29th. Johnson Rice cut shares of Devon Energy from a “buy” rating to an “accumulate” rating in a report on Tuesday, May 24th. Raymond James increased their price target on shares of Devon Energy from $80.00 to $85.00 and gave the company a “strong-buy” rating in a report on Wednesday, August 17th. The Goldman Sachs Group lowered their price target on shares of Devon Energy from $70.00 to $61.00 and set a “neutral” rating on the stock in a report on Tuesday, July 5th. Finally, Mizuho increased their price target on shares of Devon Energy from $88.00 to $91.00 and gave the company a “buy” rating in a report on Thursday, August 18th. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $75.53.

Devon Energy Stock Performance

NYSE DVN opened at $68.51 on Friday. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $44.86 billion, a price-to-earnings ratio of 8.69 and a beta of 2.47. The firm’s 50 day simple moving average is $61.78 and its 200 day simple moving average is $62.74. Devon Energy Co. has a 1 year low of $27.40 and a 1 year high of $79.40.

Devon Energy (NYSE:DVNGet Rating) last posted its quarterly earnings results on Monday, August 1st. The energy company reported $2.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.21. Devon Energy had a net margin of 30.65% and a return on equity of 48.58%. The business had revenue of $5.63 billion for the quarter, compared to analyst estimates of $4.77 billion. During the same quarter last year, the business posted $0.60 EPS. The firm’s revenue for the quarter was up 132.8% on a year-over-year basis. As a group, research analysts expect that Devon Energy Co. will post 9.25 earnings per share for the current fiscal year.

Devon Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Monday, September 12th will be given a $1.55 dividend. The ex-dividend date of this dividend is Friday, September 9th. This represents a $6.20 dividend on an annualized basis and a yield of 9.05%. This is a positive change from Devon Energy’s previous quarterly dividend of $1.27. Devon Energy’s dividend payout ratio (DPR) is currently 64.47%.

About Devon Energy

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Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates approximately 5,134 gross wells. Devon Energy Corporation was incorporated in 1971 and is headquartered in Oklahoma City, Oklahoma.

See Also

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

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