180 Wealth Advisors LLC Acquires 4,273 Shares of Devon Energy Co. (NYSE:DVN)

180 Wealth Advisors LLC raised its holdings in shares of Devon Energy Co. (NYSE:DVN) by 30.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,296 shares of the energy company’s stock after acquiring an additional 4,273 shares during the period. 180 Wealth Advisors LLC’s holdings in Devon Energy were worth $918,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of DVN. Envestnet Asset Management Inc. grew its position in Devon Energy by 4.2% during the third quarter. Envestnet Asset Management Inc. now owns 335,684 shares of the energy company’s stock valued at $16,012,000 after acquiring an additional 13,551 shares during the last quarter. Acadian Asset Management LLC grew its holdings in shares of Devon Energy by 66.9% in the third quarter. Acadian Asset Management LLC now owns 15,508 shares of the energy company’s stock worth $738,000 after purchasing an additional 6,215 shares during the last quarter. Eagle Asset Management Inc. grew its holdings in shares of Devon Energy by 40.2% in the third quarter. Eagle Asset Management Inc. now owns 13,704 shares of the energy company’s stock worth $654,000 after purchasing an additional 3,931 shares during the last quarter. Natixis Advisors L.P. grew its holdings in shares of Devon Energy by 18.1% in the third quarter. Natixis Advisors L.P. now owns 167,612 shares of the energy company’s stock worth $7,995,000 after purchasing an additional 25,742 shares during the last quarter. Finally, Treasurer of the State of North Carolina grew its holdings in shares of Devon Energy by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 302,806 shares of the energy company’s stock worth $14,444,000 after purchasing an additional 1,502 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors.

Insider Transactions at Devon Energy

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

Analyst Ratings Changes

Several research analysts have recently issued reports on DVN shares. StockNews.com upgraded shares of Devon Energy from a “hold” rating to a “buy” rating in a report on Tuesday, June 18th. Piper Sandler lifted their price target on shares of Devon Energy from $60.00 to $61.00 and gave the company an “overweight” rating in a report on Tuesday, May 14th. Citigroup lifted their price target on shares of Devon Energy from $55.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, April 11th. UBS Group lifted their price target on shares of Devon Energy from $48.00 to $57.00 and gave the company a “neutral” rating in a report on Wednesday, April 10th. Finally, Stifel Nicolaus lifted their price target on shares of Devon Energy from $65.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $59.24.

Devon Energy Stock Up 0.6 %

Shares of DVN traded up $0.30 during trading hours on Thursday, hitting $47.02. The company had a trading volume of 3,617,962 shares, compared to its average volume of 7,364,944. The firm has a fifty day moving average price of $48.82 and a 200-day moving average price of $46.87. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.97 and a current ratio of 1.04. The stock has a market capitalization of $29.71 billion, a price-to-earnings ratio of 8.97, a P/E/G ratio of 1.25 and a beta of 2.08. Devon Energy Co. has a 52-week low of $40.47 and a 52-week high of $55.09.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Wednesday, May 1st. The energy company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.06. The firm had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.64 billion. Devon Energy had a return on equity of 29.02% and a net margin of 22.27%. Devon Energy’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.46 EPS. On average, equities research analysts forecast that Devon Energy Co. will post 5.27 EPS for the current fiscal year.

Devon Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend is Friday, June 14th. Devon Energy’s dividend payout ratio is presently 16.79%.

Devon Energy Company 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.