Devon Energy Corporation $DVN Shares Sold by Integrated Wealth Concepts LLC

Integrated Wealth Concepts LLC cut its holdings in Devon Energy Corporation (NYSE:DVN) by 1.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,625 shares of the energy company’s stock after selling 358 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Devon Energy were worth $1,071,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. SVB Wealth LLC lifted its holdings in Devon Energy by 4.1% in the 1st quarter. SVB Wealth LLC now owns 8,131 shares of the energy company’s stock valued at $304,000 after acquiring an additional 321 shares during the last quarter. Whittier Trust Co. lifted its holdings in Devon Energy by 24.3% in the 1st quarter. Whittier Trust Co. now owns 1,927 shares of the energy company’s stock valued at $72,000 after acquiring an additional 377 shares during the last quarter. Callan Family Office LLC lifted its holdings in Devon Energy by 3.7% in the 1st quarter. Callan Family Office LLC now owns 10,581 shares of the energy company’s stock valued at $396,000 after acquiring an additional 377 shares during the last quarter. Hager Investment Management Services LLC lifted its holdings in Devon Energy by 9.9% in the 1st quarter. Hager Investment Management Services LLC now owns 4,235 shares of the energy company’s stock valued at $158,000 after acquiring an additional 380 shares during the last quarter. Finally, Private Advisor Group LLC lifted its holdings in Devon Energy by 0.4% in the 1st quarter. Private Advisor Group LLC now owns 92,211 shares of the energy company’s stock valued at $3,449,000 after acquiring an additional 386 shares during the last quarter. 69.72% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Devon Energy

In related news, Director Kelt Kindick sold 7,685 shares of the firm’s stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $33.46, for a total transaction of $257,140.10. Following the completion of the sale, the director directly owned 31,801 shares in the company, valued at approximately $1,064,061.46. This trade represents a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.71% of the company’s stock.

Analyst Upgrades and Downgrades

DVN has been the subject of a number of research analyst reports. BMO Capital Markets upped their price target on shares of Devon Energy from $48.00 to $51.00 and gave the company an “outperform” rating in a report on Monday, July 14th. JPMorgan Chase & Co. upped their price target on shares of Devon Energy from $40.00 to $42.00 and gave the company a “neutral” rating in a report on Tuesday, July 8th. Raymond James Financial reissued an “outperform” rating and issued a $45.00 price target (up from $40.00) on shares of Devon Energy in a report on Tuesday, July 22nd. Wells Fargo & Company upped their price target on shares of Devon Energy from $42.00 to $43.00 and gave the company an “overweight” rating in a report on Tuesday, August 12th. Finally, Wall Street Zen upgraded Devon Energy from a “sell” rating to a “hold” rating in a report on Thursday, May 15th. Sixteen research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $44.15.

Devon Energy Stock Performance

DVN stock opened at $35.31 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.22. The stock has a market cap of $22.41 billion, a P/E ratio of 7.92, a P/E/G ratio of 2.04 and a beta of 1.09. The firm has a 50 day simple moving average of $33.88 and a 200 day simple moving average of $33.16. Devon Energy Corporation has a 52 week low of $25.89 and a 52 week high of $43.29.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, August 5th. The energy company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.83 by $0.01. The business had revenue of $4.28 billion during the quarter, compared to analysts’ expectations of $4.01 billion. Devon Energy had a net margin of 16.57% and a return on equity of 18.59%. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the company posted $1.41 earnings per share. Research analysts anticipate that Devon Energy Corporation will post 4.85 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Monday, September 15th. Devon Energy’s dividend payout ratio (DPR) is currently 21.52%.

About Devon Energy

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.