Devon Energy Co. (NYSE:DVN) Shares Sold by Aptus Capital Advisors LLC

Aptus Capital Advisors LLC reduced its holdings in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 8.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 185,903 shares of the energy company's stock after selling 17,044 shares during the period. Aptus Capital Advisors LLC's holdings in Devon Energy were worth $8,812,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Triad Wealth Partners LLC bought a new stake in shares of Devon Energy in the 2nd quarter worth approximately $27,000. Manchester Capital Management LLC bought a new stake in Devon Energy in the fourth quarter worth $28,000. Tradewinds Capital Management LLC purchased a new stake in shares of Devon Energy in the first quarter worth $30,000. Jones Financial Companies Lllp increased its holdings in shares of Devon Energy by 104.8% during 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 in the last quarter. Finally, 1620 Investment Advisors Inc. bought a new position in shares of Devon Energy during the second quarter valued at $34,000. Institutional investors own 69.72% of the company's stock.

Devon Energy Stock Performance

Shares of DVN stock traded down $0.22 during trading hours on Friday, reaching $44.78. 5,832,476 shares of the company traded hands, compared to its average volume of 7,091,220. The firm has a 50-day moving average price of $45.85 and a 200 day moving average price of $47.58. The company has a market cap of $28.30 billion, a P/E ratio of 8.55, a P/E/G ratio of 0.75 and a beta of 2.07. Devon Energy Co. has a 12-month low of $40.47 and a 12-month high of $55.09. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.04 and a quick ratio of 0.97.

Devon Energy (NYSE:DVN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The energy company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.15. The business had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $3.90 billion. Devon Energy had a net margin of 22.27% and a return on equity of 29.02%. The company's revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.18 earnings per share. As a group, sell-side analysts predict that Devon Energy Co. will post 5.4 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend is Friday, September 13th. Devon Energy's dividend payout ratio is currently 16.79%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Susquehanna reissued a "positive" rating and set a $65.00 price objective on shares of Devon Energy in a research report on Tuesday, July 9th. Truist Financial reduced their price target on shares of Devon Energy from $67.00 to $64.00 and set a "buy" rating for the company in a research report on Tuesday, July 9th. JPMorgan Chase & Co. boosted their price objective on shares of Devon Energy from $62.00 to $64.00 and gave the stock an "overweight" rating in a report on Monday, July 8th. BMO Capital Markets upgraded Devon Energy to a "strong-buy" rating in a research note on Wednesday, July 3rd. Finally, Wolfe Research initiated coverage on Devon Energy in a report on Thursday, July 18th. They issued a "peer perform" rating for the company. Five research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Devon Energy presently has a consensus rating of "Moderate Buy" and an average target price of $58.75.

About Devon Energy

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.