Key Client Fiduciary Advisors LLC Makes New $273,000 Investment in Devon Energy Co. (NYSE:DVN)

Key Client Fiduciary Advisors LLC bought a new position in shares of Devon Energy Co. (NYSE:DVN) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,443 shares of the energy company’s stock, valued at approximately $273,000.

A number of other institutional investors also recently made changes to their positions in the stock. Creekmur Asset Management LLC acquired a new position in Devon Energy in the fourth quarter valued at $791,000. Wahed Invest LLC increased its stake in Devon Energy by 6.3% in the fourth quarter. Wahed Invest LLC now owns 10,944 shares of the energy company’s stock valued at $496,000 after purchasing an additional 648 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in Devon Energy by 39.0% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 197,726 shares of the energy company’s stock valued at $9,008,000 after purchasing an additional 55,459 shares during the last quarter. L. Roy Papp & Associates LLP acquired a new position in Devon Energy in the fourth quarter valued at $287,000. Finally, Principal Securities Inc. acquired a new position in Devon Energy in the fourth quarter valued at $702,000. 69.72% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Devon Energy

In other news, EVP Tana K. Cashion sold 20,000 shares of the business’s stock in a transaction on 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 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.73% of the stock is owned by insiders.

Devon Energy Stock Up 0.6 %

Shares of Devon Energy stock opened at $47.02 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 0.46. The business’s 50 day simple moving average is $48.82 and its 200-day simple moving average is $46.87. The stock has a market capitalization of $29.71 billion, a price-to-earnings ratio of 8.97, a PEG ratio of 1.23 and a beta of 2.08. Devon Energy Co. has a twelve month low of $40.47 and a twelve month high of $55.09.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Wednesday, May 1st. The energy company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.06. Devon Energy had a return on equity of 29.02% and a net margin of 22.27%. The business had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.64 billion. During the same period in the prior year, the firm earned $1.46 EPS. The business’s quarterly revenue was down 5.9% on a year-over-year basis. Equities research analysts forecast that Devon Energy Co. will post 5.25 earnings per share for the current year.

Devon Energy Cuts Dividend

The firm 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 $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Friday, June 14th. Devon Energy’s dividend payout ratio is currently 16.79%.

Wall Street Analyst Weigh In

DVN has been the subject of several analyst reports. StockNews.com upgraded Devon Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, June 18th. Barclays assumed coverage on Devon Energy in a research note on Wednesday, April 10th. They set an “equal weight” rating and a $59.00 price target for the company. Susquehanna upped their target price on Devon Energy from $52.00 to $65.00 and gave the stock a “positive” rating in a research report on Monday, April 22nd. JPMorgan Chase & Co. upped their target price on Devon Energy from $57.00 to $62.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Finally, Scotiabank upped their target price on Devon Energy from $53.00 to $67.00 and gave the stock a “sector outperform” rating in a research 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. According to data from MarketBeat.com, Devon Energy has an average rating of “Moderate Buy” and a consensus target price 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.