Hoertkorn Richard Charles Increases Stock Holdings in Devon Energy Co. (NYSE:DVN)

Hoertkorn Richard Charles boosted its holdings in shares of Devon Energy Co. (NYSE:DVN) by 0.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 143,710 shares of the energy company’s stock after purchasing an additional 1,225 shares during the quarter. Devon Energy makes up approximately 3.3% of Hoertkorn Richard Charles’ holdings, making the stock its 11th largest holding. Hoertkorn Richard Charles’ holdings in Devon Energy were worth $6,947,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Tyler Stone Wealth Management purchased a new stake in Devon Energy during the 4th quarter worth approximately $25,000. Clearview Wealth Advisors LLC acquired a new position in shares of Devon Energy in the 1st quarter worth approximately $25,000. Crewe Advisors LLC grew its position in shares of Devon Energy by 16,633.3% in the 1st quarter. Crewe Advisors LLC now owns 502 shares of the energy company’s stock worth $25,000 after acquiring an additional 499 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Devon Energy in the 1st quarter worth approximately $26,000. Finally, KB Financial Partners LLC acquired a new position in shares of Devon Energy in the 1st quarter worth approximately $26,000. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Devon Energy

In other Devon Energy news, EVP Dennis C. Cameron sold 7,870 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $51.13, for a total value of $402,393.10. Following the completion of the sale, the executive vice president now owns 210,548 shares of the company’s stock, valued at approximately $10,765,319.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.63% of the stock is owned by company insiders.

Devon Energy Stock Down 1.3 %

DVN traded down $0.64 on Friday, hitting $50.29. 3,468,732 shares of the company were exchanged, compared to its average volume of 8,796,867. The company has a market cap of $32.22 billion, a PE ratio of 6.97, a PEG ratio of 0.18 and a beta of 2.34. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.90 and a current ratio of 0.98. The stock’s fifty day moving average is $51.03 and its 200-day moving average is $50.56. Devon Energy Co. has a 12 month low of $44.03 and a 12 month high of $78.82.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Tuesday, August 1st. The energy company reported $1.18 EPS for the quarter, meeting analysts’ consensus estimates of $1.18. The firm had revenue of $3.45 billion during the quarter, compared to analysts’ expectations of $3.26 billion. Devon Energy had a net margin of 28.10% and a return on equity of 37.89%. The company’s revenue for the quarter was down 38.6% compared to the same quarter last year. During the same quarter last year, the company posted $2.59 earnings per share. Equities research analysts predict that Devon Energy Co. will post 5.61 EPS for the current fiscal year.

Devon Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be paid a $0.49 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.96 dividend on an annualized basis and a yield of 3.90%. Devon Energy’s dividend payout ratio (DPR) is currently 10.94%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on DVN shares. StockNews.com started coverage on Devon Energy in a research report on Thursday, August 17th. They issued a “sell” rating for the company. Royal Bank of Canada reduced their price objective on Devon Energy from $63.00 to $60.00 and set a “sector perform” rating for the company in a research report on Thursday, July 13th. Stifel Nicolaus boosted their price objective on Devon Energy from $77.00 to $79.00 and gave the company a “buy” rating in a research report on Friday, August 25th. Raymond James reduced their price objective on Devon Energy from $70.00 to $62.00 and set a “strong-buy” rating for the company in a research report on Monday, July 24th. Finally, Evercore ISI reduced their price objective on Devon Energy from $52.00 to $50.00 in a research report on Monday, July 10th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Devon Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.74.

Devon Energy Profile

Devon Energy Corporation, an independent energy company, explores for, develops, and produces oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Anadarko, Williston, Eagle Ford, and Powder River Basin. The company was incorporated in 1971 and is headquartered in Oklahoma City, Oklahoma.