Devon Energy Co. (NYSE:DVN – Get Rating) EVP Dennis C. Cameron sold 4,537 shares of the company’s stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $53.55, for a total transaction of $242,956.35. Following the sale, the executive vice president now directly owns 270,269 shares in the company, valued at $14,472,904.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
NYSE:DVN traded down $0.89 during trading hours on Wednesday, hitting $51.00. The stock had a trading volume of 16,164,967 shares, compared to its average volume of 13,256,765. Devon Energy Co. has a one year low of $24.05 and a one year high of $79.40. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.32 and a current ratio of 1.32. The company has a market cap of $33.66 billion, a price-to-earnings ratio of 9.28 and a beta of 2.61. The business’s 50 day moving average is $66.26 and its 200-day moving average is $58.42.
Devon Energy (NYSE:DVN – Get Rating) last issued its earnings results on Monday, May 2nd. The energy company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.74 by $0.14. Devon Energy had a net margin of 25.69% and a return on equity of 36.57%. The firm had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter in the prior year, the firm earned $0.45 earnings per share. On average, sell-side analysts anticipate that Devon Energy Co. will post 9.1 EPS for the current fiscal year.
What’s the highest-yielding stock you’ve ever owned? The dividends for these stocks have risen so fast over the years that they’re now yielding us an average of 26%!
When you start getting paid 26% on your money, your financial problems tend to pretty much evaporate.
Devon Energy announced that its Board of Directors has initiated a stock buyback program on Monday, May 2nd that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the energy company to buy up to 4.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Monday, June 13th were given a dividend of $1.27 per share. This is an increase from Devon Energy’s previous quarterly dividend of $1.00. The ex-dividend date was Friday, June 10th. This represents a $5.08 annualized dividend and a dividend yield of 9.96%. Devon Energy’s dividend payout ratio is currently 95.31%.
A number of equities analysts have recently issued reports on the stock. Truist Financial upped their target price on shares of Devon Energy from $100.00 to $103.00 and gave the stock a “buy” rating in a research report on Thursday, June 9th. Barclays upped their target price on shares of Devon Energy from $73.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 14th. The Goldman Sachs Group reduced their target price on shares of Devon Energy from $70.00 to $61.00 and set a “neutral” rating on the stock in a research report on Tuesday. Mizuho upped their target price on shares of Devon Energy from $92.00 to $94.00 and gave the stock a “buy” rating in a research report on Friday, June 10th. Finally, Credit Suisse Group upped their target price on shares of Devon Energy from $75.00 to $82.00 and gave the stock an “outperform” rating in a research report on Thursday, June 9th. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Devon Energy presently has an average rating of “Moderate Buy” and a consensus price target of $75.47.
Several hedge funds have recently modified their holdings of DVN. Boston Partners increased its position in shares of Devon Energy by 174.3% during the fourth quarter. Boston Partners now owns 5,691,104 shares of the energy company’s stock worth $250,767,000 after acquiring an additional 3,616,599 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Devon Energy during the fourth quarter worth $139,113,000. 1832 Asset Management L.P. increased its position in shares of Devon Energy by 101.4% during the fourth quarter. 1832 Asset Management L.P. now owns 5,346,149 shares of the energy company’s stock worth $235,861,000 after acquiring an additional 2,691,049 shares in the last quarter. Bank of Montreal Can grew its position in Devon Energy by 276.7% in the first quarter. Bank of Montreal Can now owns 2,373,320 shares of the energy company’s stock valued at $143,776,000 after purchasing an additional 1,743,220 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in Devon Energy in the first quarter valued at $85,234,000. 87.01% of the stock is owned by institutional investors.
Devon Energy Company Profile (Get Rating)
Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates approximately 5,134 gross wells. Devon Energy Corporation was incorporated in 1971 and is headquartered in Oklahoma City, Oklahoma.
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