14,466 Shares in Devon Energy Co. (NYSE:DVN) Purchased by Strategy Asset Managers LLC

Strategy Asset Managers LLC bought a new position in Devon Energy Co. (NYSE:DVN) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm bought 14,466 shares of the energy company’s stock, valued at approximately $699,000.

A number of other large investors have also made changes to their positions in DVN. Vanguard Group Inc. increased its stake in Devon Energy by 3.5% during the first quarter. Vanguard Group Inc. now owns 76,457,056 shares of the energy company’s stock worth $3,836,615,000 after acquiring an additional 2,559,039 shares during the last quarter. Raymond James & Associates raised its holdings in shares of Devon Energy by 1.5% in the 2nd quarter. Raymond James & Associates now owns 9,183,778 shares of the energy company’s stock valued at $435,311,000 after buying an additional 138,919 shares during the period. Dimensional Fund Advisors LP lifted its stake in Devon Energy by 26.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,077,042 shares of the energy company’s stock worth $320,609,000 after acquiring an additional 1,488,374 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in Devon Energy by 3.8% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 4,699,410 shares of the energy company’s stock valued at $222,752,000 after acquiring an additional 169,923 shares during the period. Finally, Bank of New York Mellon Corp grew its position in Devon Energy by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,680,448 shares of the energy company’s stock valued at $221,853,000 after acquiring an additional 18,443 shares in the last quarter. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Devon Energy Price Performance

DVN traded down $0.08 during midday trading on Wednesday, reaching $42.94. 1,529,072 shares of the company’s stock were exchanged, compared to its average volume of 7,054,386. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.11 and a quick ratio of 1.03. Devon Energy Co. has a 1-year low of $40.47 and a 1-year high of $55.09. The stock has a market capitalization of $26.89 billion, a PE ratio of 8.20, a P/E/G ratio of 1.26 and a beta of 2.07. The business’s 50-day moving average price is $45.70 and its 200 day moving average price is $47.62.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, August 6th. The energy company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.15. The company had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $3.90 billion. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. Devon Energy’s revenue was up 13.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.18 earnings per share. As a group, equities analysts anticipate that Devon Energy Co. will post 5.37 EPS 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 given a dividend of $0.22 per share. The ex-dividend date is Friday, September 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.05%. Devon Energy’s dividend payout ratio (DPR) is currently 16.79%.

Wall Street Analyst Weigh In

DVN has been the topic of a number of research reports. StockNews.com lowered shares of Devon Energy from a “buy” rating to a “hold” rating in a report on Monday. Mizuho boosted their price objective on Devon Energy from $57.00 to $61.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Truist Financial lowered their target price on shares of Devon Energy from $67.00 to $64.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Piper Sandler reduced their price target on shares of Devon Energy from $65.00 to $57.00 and set an “overweight” rating for the company in a research report on Thursday, August 15th. Finally, Susquehanna lowered their price objective on shares of Devon Energy from $65.00 to $63.00 and set a “positive” rating on the stock in a research report on Wednesday. Six investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $58.63.

Devon Energy Company 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.