Janiczek Wealth Management LLC Grows Stake in Devon Energy Co. (NYSE:DVN)

Janiczek Wealth Management LLC lifted its position in Devon Energy Co. (NYSE:DVN) by 6.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,543 shares of the energy company’s stock after buying an additional 202 shares during the period. Janiczek Wealth Management LLC’s holdings in Devon Energy were worth $171,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Castle Rock Wealth Management LLC lifted its position in Devon Energy by 16.1% during the second quarter. Castle Rock Wealth Management LLC now owns 17,583 shares of the energy company’s stock valued at $853,000 after purchasing an additional 2,442 shares in the last quarter. Good Life Advisors LLC purchased a new position in Devon Energy during the second quarter valued at $303,000. City State Bank lifted its position in Devon Energy by 94.2% during the second quarter. City State Bank now owns 6,185 shares of the energy company’s stock valued at $299,000 after purchasing an additional 3,000 shares in the last quarter. Disciplined Investments LLC raised its holdings in Devon Energy by 13.4% during the second quarter. Disciplined Investments LLC now owns 9,714 shares of the energy company’s stock valued at $470,000 after acquiring an additional 1,149 shares during the period. Finally, Kwmg LLC raised its holdings in Devon Energy by 8.7% during the second quarter. Kwmg LLC now owns 86,773 shares of the energy company’s stock valued at $4,195,000 after acquiring an additional 6,913 shares during the period. 68.34% of the stock is currently owned by hedge funds and other institutional investors.

Devon Energy Trading Down 2.5 %

Shares of NYSE DVN traded down $1.25 during trading hours on Friday, reaching $49.68. The stock had a trading volume of 26,184,989 shares, compared to its average volume of 8,927,839. The firm has a market cap of $31.83 billion, a price-to-earnings ratio of 6.80, a P/E/G ratio of 0.18 and a beta of 2.34. Devon Energy Co. has a 52-week low of $44.03 and a 52-week high of $78.82. The company has a current ratio of 0.98, a quick ratio of 0.90 and a debt-to-equity ratio of 0.55. The business’s fifty day moving average price is $51.05 and its two-hundred day moving average price is $50.50.

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

Devon Energy Cuts Dividend

The firm also recently disclosed 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. This represents a $1.96 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date of this dividend is Thursday, September 14th. Devon Energy’s dividend payout ratio (DPR) is 10.94%.

Insider Buying and Selling

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

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Stifel Nicolaus raised their price target on Devon Energy from $77.00 to $79.00 and gave the company a “buy” rating in a report on Friday, August 25th. UBS Group raised their price target on Devon Energy from $53.00 to $55.00 and gave the company a “neutral” rating in a report on Thursday, August 17th. Royal Bank of Canada decreased their price target on Devon Energy from $63.00 to $60.00 and set a “sector perform” rating on the stock in a report on Thursday, July 13th. StockNews.com began coverage on Devon Energy in a report on Thursday, August 17th. They issued a “sell” rating on the stock. Finally, Piper Sandler reduced their target price on Devon Energy from $72.00 to $65.00 and set an “overweight” rating on the stock in a report on Monday, August 14th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $63.72.

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.