Devon Energy Co. (NYSE:DVN) is Nepsis Inc.’s 4th Largest Position

Nepsis Inc. lifted its holdings in Devon Energy Co. (NYSE:DVN) by 1.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 420,914 shares of the energy company’s stock after buying an additional 7,104 shares during the quarter. Devon Energy makes up about 5.7% of Nepsis Inc.’s portfolio, making the stock its 4th biggest position. Nepsis Inc. owned 0.07% of Devon Energy worth $21,121,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of DVN. Salem Investment Counselors Inc. increased its position in shares of Devon Energy by 31.4% during the first quarter. Salem Investment Counselors Inc. now owns 832 shares of the energy company’s stock worth $42,000 after acquiring an additional 199 shares during the period. Clearbridge Investments LLC lifted its holdings in shares of Devon Energy by 2.1% in the 3rd quarter. Clearbridge Investments LLC now owns 11,887 shares of the energy company’s stock worth $567,000 after buying an additional 239 shares during the period. Sound Income Strategies LLC increased its stake in shares of Devon Energy by 60.7% during the fourth quarter. Sound Income Strategies LLC now owns 675 shares of the energy company’s stock valued at $31,000 after buying an additional 255 shares during the period. Cullen Frost Bankers Inc. increased its stake in shares of Devon Energy by 5.1% during the fourth quarter. Cullen Frost Bankers Inc. now owns 5,587 shares of the energy company’s stock valued at $253,000 after buying an additional 271 shares during the period. Finally, S. R. Schill & Associates raised its holdings in shares of Devon Energy by 3.8% in the fourth quarter. S. R. Schill & Associates now owns 7,784 shares of the energy company’s stock valued at $353,000 after acquiring an additional 282 shares in the last quarter. 69.72% of the stock is owned by institutional investors.

Insider Activity

In other Devon Energy news, EVP Tana K. Cashion sold 20,000 shares of Devon Energy stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $51.04, for a total transaction of $1,020,800.00. Following the sale, the executive vice president now owns 104,182 shares of the company’s stock, valued at approximately $5,317,449.28. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.73% of the company’s stock.

Analysts Set New Price Targets

DVN has been the subject of several recent research reports. UBS Group boosted their price target on shares of Devon Energy from $48.00 to $57.00 and gave the company a “neutral” rating in a report on Wednesday, April 10th. Stifel Nicolaus increased their target price on Devon Energy from $65.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, April 23rd. Royal Bank of Canada boosted their price target on Devon Energy from $55.00 to $57.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 9th. JPMorgan Chase & Co. raised their price objective on Devon Energy from $57.00 to $62.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Finally, Mizuho boosted their target price on shares of Devon Energy from $57.00 to $61.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $59.24.

Devon Energy Stock Performance

Shares of DVN stock traded down $0.42 during trading hours on Tuesday, hitting $47.22. The company’s stock had a trading volume of 832,465 shares, compared to its average volume of 7,364,665. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 0.46. Devon Energy Co. has a 12-month low of $40.47 and a 12-month high of $55.09. The company has a 50 day moving average of $49.10 and a 200 day moving average of $46.84. The stock has a market cap of $29.84 billion, a PE ratio of 9.09, a price-to-earnings-growth ratio of 1.20 and a beta of 2.08.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Wednesday, May 1st. The energy company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.06. The firm had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.64 billion. Devon Energy had a net margin of 22.27% and a return on equity of 29.02%. The firm’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.46 EPS. On average, sell-side analysts forecast that Devon Energy Co. will post 5.27 EPS for the current fiscal year.

Devon Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.22 per share. The ex-dividend date is Friday, June 14th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.86%. Devon Energy’s payout ratio is currently 16.79%.

Devon Energy Profile

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.