Devon Energy Co. (NYSE:DVN) Position Decreased by Bowman & Co S.C.

Bowman & Co S.C. trimmed its position in Devon Energy Co. (NYSE:DVN) by 2.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,203 shares of the energy company’s stock after selling 695 shares during the quarter. Devon Energy makes up approximately 0.9% of Bowman & Co S.C.’s portfolio, making the stock its 24th largest position. Bowman & Co S.C.’s holdings in Devon Energy were worth $1,516,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Manchester Capital Management LLC acquired a new position in shares of Devon Energy in the fourth quarter worth about $28,000. Sound Income Strategies LLC boosted its holdings in shares of Devon Energy by 60.7% in the fourth quarter. Sound Income Strategies LLC now owns 675 shares of the energy company’s stock worth $31,000 after buying an additional 255 shares during the period. Rise Advisors LLC boosted its holdings in shares of Devon Energy by 1,365.3% in the fourth quarter. Rise Advisors LLC now owns 718 shares of the energy company’s stock worth $33,000 after buying an additional 669 shares during the period. Jones Financial Companies Lllp boosted its holdings in shares of Devon Energy by 104.8% in the fourth quarter. Jones Financial Companies Lllp now owns 731 shares of the energy company’s stock worth $33,000 after buying an additional 374 shares during the period. Finally, PFS Partners LLC acquired a new position in shares of Devon Energy in the fourth quarter worth about $36,000. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Tana K. Cashion sold 20,000 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $51.04, for a total transaction of $1,020,800.00. Following the transaction, the executive vice president now owns 104,182 shares of the company’s stock, valued at $5,317,449.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.73% of the stock is currently owned by insiders.

Devon Energy Trading Down 1.4 %

NYSE:DVN opened at $46.73 on Thursday. Devon Energy Co. has a 12 month low of $40.47 and a 12 month high of $55.09. The firm has a market cap of $29.53 billion, a price-to-earnings ratio of 8.92, a P/E/G ratio of 1.25 and a beta of 2.08. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 0.46. The company’s 50 day moving average is $48.91 and its 200-day moving average is $46.86.

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

Devon Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date is Friday, June 14th. Devon Energy’s dividend payout ratio (DPR) is currently 16.79%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on DVN shares. Piper Sandler raised their target price on shares of Devon Energy from $60.00 to $61.00 and gave the stock an “overweight” rating in a report on Tuesday, May 14th. Morgan Stanley raised their price target on shares of Devon Energy from $49.00 to $50.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Royal Bank of Canada raised their price target on shares of Devon Energy from $55.00 to $57.00 and gave the stock a “sector perform” rating in a report on Thursday, May 9th. Stifel Nicolaus raised their price target on shares of Devon Energy from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, April 23rd. Finally, JPMorgan Chase & Co. raised their price target on shares of Devon Energy from $57.00 to $62.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Devon Energy presently has a consensus rating of “Moderate Buy” and an average price target 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.