Kingswood Wealth Advisors LLC Has $643,000 Holdings in Devon Energy Co. (NYSE:DVN)

Kingswood Wealth Advisors LLC decreased its position in Devon Energy Co. (NYSE:DVN) by 66.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,820 shares of the energy company’s stock after selling 25,963 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Devon Energy were worth $643,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Pacer Advisors Inc. increased its holdings in Devon Energy by 1,279.7% in the fourth quarter. Pacer Advisors Inc. now owns 6,145,605 shares of the energy company’s stock worth $278,396,000 after purchasing an additional 5,700,167 shares in the last quarter. Morgan Stanley boosted its stake in Devon Energy by 23.6% during the third quarter. Morgan Stanley now owns 11,647,104 shares of the energy company’s stock worth $555,567,000 after acquiring an additional 2,220,194 shares in the last quarter. International Assets Investment Management LLC grew its holdings in Devon Energy by 3,885.4% in the fourth quarter. International Assets Investment Management LLC now owns 1,695,206 shares of the energy company’s stock worth $76,793,000 after purchasing an additional 1,652,671 shares during the period. Dimensional Fund Advisors LP increased its stake in Devon Energy by 26.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,077,042 shares of the energy company’s stock valued at $320,609,000 after purchasing an additional 1,488,374 shares in the last quarter. Finally, Schroder Investment Management Group raised its holdings in shares of Devon Energy by 61.0% during the third quarter. Schroder Investment Management Group now owns 2,673,781 shares of the energy company’s stock valued at $127,539,000 after purchasing an additional 1,013,353 shares during the period. Institutional investors own 69.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on DVN shares. StockNews.com upgraded Devon Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, June 18th. Wells Fargo & Company upgraded Devon Energy from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $46.00 to $59.00 in a report on Monday, April 1st. Stifel Nicolaus upped their price objective 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. Mizuho lifted their price objective on shares of Devon Energy from $57.00 to $61.00 and gave the company a “buy” rating in a report on Monday, May 13th. Finally, Scotiabank upped their target price on shares of Devon Energy from $53.00 to $67.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $59.24.

Devon Energy Price Performance

NYSE DVN opened at $46.73 on Thursday. 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 has a market cap of $29.53 billion, a PE ratio of 8.92, a price-to-earnings-growth 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. The firm’s 50-day simple moving average is $48.91 and its two-hundred day simple moving average is $46.86.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Wednesday, May 1st. The energy company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.10 by $0.06. The company had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.64 billion. Devon Energy had a net margin of 22.27% and a return on equity of 29.02%. Devon Energy’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same period last year, the firm earned $1.46 EPS. Research analysts predict that Devon Energy Co. will post 5.27 earnings per share for the current 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 dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.88%. The ex-dividend date of this dividend is Friday, June 14th. Devon Energy’s dividend payout ratio is presently 16.79%.

Insider Transactions at Devon Energy

In related news, EVP Tana K. Cashion sold 20,000 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now owns 104,182 shares of the company’s stock, valued at approximately $5,317,449.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.73% of the company’s stock.

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.