Tana K. Cashion Sells 20,000 Shares of Devon Energy Co. (NYSE:DVN) Stock

Devon Energy Co. (NYSE:DVN) EVP Tana K. Cashion sold 20,000 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $51.04, for a total value of $1,020,800.00. Following the completion of the sale, the executive vice president now directly owns 104,182 shares of the company’s stock, valued at approximately $5,317,449.28. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Devon Energy Stock Up 0.2 %

Shares of Devon Energy stock traded up $0.12 during midday trading on Tuesday, hitting $50.98. The company had a trading volume of 5,086,130 shares, compared to its average volume of 7,846,042. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.97 and a current ratio of 1.04. The stock has a market capitalization of $32.22 billion, a P/E ratio of 9.73 and a beta of 2.16. The company has a 50 day moving average of $49.76 and a 200 day moving average of $46.27. Devon Energy Co. has a 52-week low of $40.47 and a 52-week high of $55.09.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Wednesday, May 1st. The energy company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.06. The company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.64 billion. Devon Energy had a return on equity of 29.02% and a net margin of 22.27%. The firm’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.46 EPS. On average, equities analysts predict that Devon Energy Co. will post 5.24 earnings per share for the current fiscal year.

Devon Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a $0.22 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.88 annualized dividend and a dividend yield of 1.73%. Devon Energy’s payout ratio is currently 16.79%.

Wall Street Analyst Weigh In

DVN has been the subject of a number of recent research reports. Scotiabank boosted their target price on Devon Energy from $53.00 to $67.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th. Susquehanna upped their price target on Devon Energy from $52.00 to $65.00 and gave the company a “positive” rating in a research report on Monday, April 22nd. StockNews.com raised Devon Energy from a “hold” rating to a “buy” rating in a research report on Friday. Citigroup upped their price target on Devon Energy from $55.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Finally, JPMorgan Chase & Co. upped their price target on Devon Energy from $57.00 to $62.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Devon Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.44.

Institutional Trading of Devon Energy

Several hedge funds and other institutional investors have recently made changes to their positions in DVN. Brown Advisory Inc. lifted its position in Devon Energy by 77.2% in the 3rd quarter. Brown Advisory Inc. now owns 8,316 shares of the energy company’s stock valued at $397,000 after acquiring an additional 3,622 shares in the last quarter. Lindbrook Capital LLC lifted its position in Devon Energy by 32.5% in the 3rd quarter. Lindbrook Capital LLC now owns 1,916 shares of the energy company’s stock valued at $91,000 after acquiring an additional 470 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Devon Energy by 20.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 133,594 shares of the energy company’s stock valued at $6,372,000 after acquiring an additional 22,517 shares in the last quarter. Mackenzie Financial Corp lifted its position in Devon Energy by 21.8% in the 3rd quarter. Mackenzie Financial Corp now owns 212,577 shares of the energy company’s stock valued at $9,725,000 after acquiring an additional 37,978 shares in the last quarter. Finally, Brighton Jones LLC lifted its position in Devon Energy by 15.1% in the 3rd quarter. Brighton Jones LLC now owns 7,271 shares of the energy company’s stock valued at $347,000 after acquiring an additional 956 shares in the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

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.