Devon Energy Corp (NYSE:DVN) CAO Jeremy D. Humphers Sells 1,500 Shares

Devon Energy Corp (NYSE:DVN) CAO Jeremy D. Humphers sold 1,500 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $11.47, for a total transaction of $17,205.00. Following the sale, the chief accounting officer now owns 67,637 shares in the company, valued at $775,796.39. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

NYSE:DVN traded up $0.46 during midday trading on Tuesday, hitting $12.16. 8,451,805 shares of the company were exchanged, compared to its average volume of 10,592,662. The company has a fifty day simple moving average of $11.15 and a 200 day simple moving average of $17.44. Devon Energy Corp has a fifty-two week low of $4.70 and a fifty-two week high of $29.36. The company has a current ratio of 2.61, a quick ratio of 2.61 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $4.62 billion, a PE ratio of -2.38 and a beta of 3.34.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Tuesday, May 5th. The energy company reported $0.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.31. Devon Energy had a negative net margin of 24.91% and a positive return on equity of 7.81%. The firm had revenue of $2.09 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same period last year, the business earned $0.36 EPS. Devon Energy’s revenue for the quarter was up 93.4% compared to the same quarter last year. As a group, equities research analysts expect that Devon Energy Corp will post -0.45 EPS for the current year.

A number of equities research analysts have issued reports on the stock. Morgan Stanley increased their target price on shares of Devon Energy from $10.00 to $11.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 19th. Royal Bank of Canada reduced their target price on shares of Devon Energy from $30.00 to $18.00 in a report on Tuesday, March 10th. Bank of America increased their target price on shares of Devon Energy from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. UBS Group reduced their price objective on shares of Devon Energy from $34.00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday, March 31st. Finally, Mizuho raised their price objective on shares of Devon Energy from $11.00 to $13.00 and gave the company a “neutral” rating in a report on Thursday, May 21st. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Devon Energy currently has an average rating of “Buy” and an average target price of $19.05.

A number of institutional investors have recently modified their holdings of DVN. Morgan Stanley boosted its holdings in shares of Devon Energy by 74.8% in the first quarter. Morgan Stanley now owns 1,406,746 shares of the energy company’s stock valued at $9,720,000 after acquiring an additional 602,091 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Devon Energy by 3.6% in the first quarter. The Manufacturers Life Insurance Company now owns 1,171,419 shares of the energy company’s stock valued at $8,094,000 after acquiring an additional 40,338 shares in the last quarter. Voloridge Investment Management LLC purchased a new stake in shares of Devon Energy in the first quarter valued at about $3,170,000. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Devon Energy in the first quarter valued at about $420,000. Finally, Advisor Group Holdings Inc. purchased a new stake in shares of Devon Energy in the first quarter valued at about $331,000. 81.83% of the stock is currently owned by institutional investors.

About Devon Energy

Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States and Canada. It operates approximately 12,900 gross wells. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.

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