Brighton Jones LLC Sells 2,387 Shares of Devon Energy Co. (NYSE:DVN)

Brighton Jones LLC lessened its stake in shares of Devon Energy Co. (NYSE:DVN) by 5.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,200 shares of the energy company’s stock after selling 2,387 shares during the period. Brighton Jones LLC’s holdings in Devon Energy were worth $2,000,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Triad Wealth Partners LLC bought a new position in Devon Energy in the second quarter valued at approximately $27,000. Tradewinds Capital Management LLC acquired a new stake in Devon Energy in the first quarter valued at about $30,000. Jones Financial Companies Lllp grew its position in Devon Energy by 104.8% in the fourth quarter. Jones Financial Companies Lllp now owns 731 shares of the energy company’s stock valued at $33,000 after acquiring an additional 374 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new position in Devon Energy during the second quarter worth about $34,000. Finally, PSI Advisors LLC lifted its holdings in shares of Devon Energy by 66.7% in the second quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock worth $36,000 after acquiring an additional 300 shares during the last quarter. 69.72% of the stock is owned by institutional investors and hedge funds.

Devon Energy Stock Down 0.5 %

Shares of NYSE DVN opened at $40.78 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.11 and a debt-to-equity ratio of 0.45. The firm has a market cap of $25.77 billion, a PE ratio of 7.78, a P/E/G ratio of 1.13 and a beta of 2.03. The company’s fifty day simple moving average is $44.17 and its 200 day simple moving average is $47.30. Devon Energy Co. has a 12-month low of $39.02 and a 12-month high of $55.09.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, August 6th. The energy company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.15. Devon Energy had a net margin of 22.60% and a return on equity of 29.14%. The company had revenue of $3.92 billion for the quarter, compared to analysts’ expectations of $3.90 billion. During the same quarter in the prior year, the firm earned $1.18 EPS. The business’s revenue was up 13.4% on a year-over-year basis. As a group, sell-side analysts forecast that Devon Energy Co. will post 5.36 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.88 annualized dividend and a dividend yield of 2.16%. Devon Energy’s dividend payout ratio is 16.79%.

Wall Street Analysts Forecast Growth

DVN has been the subject of a number of research analyst reports. Susquehanna lowered their price objective on shares of Devon Energy from $65.00 to $63.00 and set a “positive” rating for the company in a research report on Wednesday, September 4th. StockNews.com downgraded shares of Devon Energy from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Morgan Stanley lowered their price objective on Devon Energy from $55.00 to $51.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Piper Sandler cut their target price on shares of Devon Energy from $65.00 to $57.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. Finally, Scotiabank decreased their price target on shares of Devon Energy from $67.00 to $60.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Six research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $57.00.

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.