IHT Wealth Management LLC Acquires 4,654 Shares of Devon Energy Co. (NYSE:DVN)

IHT Wealth Management LLC raised its holdings in Devon Energy Co. (NYSE:DVN – Get Rating) by 19.6% during the third quarter, Holdings Channel.com reports. The institutional investor owned 28,379 shares of the energy company’s stock after buying an additional 4,654 shares during the quarter. IHT Wealth Management LLC’s holdings in Devon Energy were worth $1,706,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. AlphaCrest Capital Management LLC purchased a new position in shares of Devon Energy in the 1st quarter valued at approximately $364,000. Acadian Asset Management LLC purchased a new position in shares of Devon Energy in the 1st quarter valued at approximately $188,000. Blair William & Co. IL lifted its stake in shares of Devon Energy by 52.1% in the 1st quarter. Blair William & Co. IL now owns 99,120 shares of the energy company’s stock valued at $5,861,000 after purchasing an additional 33,936 shares during the period. Sei Investments Co. lifted its stake in shares of Devon Energy by 9.2% in the 1st quarter. Sei Investments Co. now owns 414,354 shares of the energy company’s stock valued at $24,500,000 after purchasing an additional 34,870 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Devon Energy in the 1st quarter valued at approximately $26,000. 78.08% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director John E. Bethancourt acquired 3,765 shares of the business’s stock in a transaction that occurred on Friday, February 17th. The stock was bought at an average price of $53.06 per share, with a total value of $199,770.90. Following the completion of the acquisition, the director now directly owns 94,669 shares of the company’s stock, valued at approximately $5,023,137.14. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director John E. Bethancourt purchased 3,765 shares of the business’s stock in a transaction on Friday, February 17th. The stock was acquired at an average price of $53.06 per share, with a total value of $199,770.90. Following the completion of the acquisition, the director now owns 94,669 shares of the company’s stock, valued at approximately $5,023,137.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Dennis C. Cameron sold 7,179 shares of the business’s stock in a transaction dated Friday, February 17th. The shares were sold at an average price of $54.77, for a total value of $393,193.83. Following the sale, the executive vice president now directly owns 262,498 shares of the company’s stock, valued at approximately $14,377,015.46. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by corporate insiders.

Devon Energy Stock Up 2.5 %

DVN stock opened at $46.27 on Friday. Devon Energy Co. has a 1-year low of $44.03 and a 1-year high of $79.40. The business has a fifty day moving average price of $59.05 and a 200-day moving average price of $64.43. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.25 and a quick ratio of 1.19. The stock has a market capitalization of $30.26 billion, a P/E ratio of 5.07, a P/E/G ratio of 0.14 and a beta of 2.33.

Devon Energy (NYSE:DVN – Get Rating) last issued its quarterly earnings data on Wednesday, February 15th. The energy company reported $1.66 EPS for the quarter, missing the consensus estimate of $1.75 by ($0.09). Devon Energy had a return on equity of 52.20% and a net margin of 31.38%. The firm had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.29 billion. During the same period in the previous year, the firm earned $1.39 EPS. The business’s revenue was up .6% on a year-over-year basis. Equities analysts forecast that Devon Energy Co. will post 7.04 earnings per share for the current fiscal year.

Devon Energy Increases Dividend

The company also recently disclosed a None dividend, which will be paid on Friday, March 31st. Investors of record on Wednesday, March 15th will be issued a $0.89 dividend. The ex-dividend date of this dividend is Tuesday, March 14th. This represents a dividend yield of 9.3%. This is a positive change from Devon Energy’s previous None dividend of $0.49. Devon Energy’s payout ratio is presently 7.89%.

Analyst Ratings Changes

A number of research firms have recently commented on DVN. Barclays lowered their target price on Devon Energy from $86.00 to $82.00 and set an “equal weight” rating for the company in a research note on Monday, January 23rd. Citigroup lowered their price objective on Devon Energy from $77.00 to $66.00 and set a “buy” rating for the company in a research note on Thursday, February 23rd. Sanford C. Bernstein lowered their price objective on Devon Energy from $84.00 to $71.00 and set an “outperform” rating for the company in a research note on Thursday, February 16th. Evercore ISI lowered their price objective on Devon Energy from $80.00 to $52.00 in a research note on Tuesday. Finally, Morgan Stanley lowered their price objective on Devon Energy from $67.00 to $61.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 24th. Eight investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Devon Energy currently has an average rating of “Moderate Buy” and an average target price of $73.21.

About Devon Energy

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Devon Energy Corp. engages in the exploration, development, and production of oil and natural gas properties. It develops and operates Delaware Basin, Eagle Ford, Heavy Oil, Barnett Shale, STACK, and Rockies Oil. The company was founded by J. Larry Nichols and John W. Nichols in 1971 and is headquartered in Oklahoma City, OK.