Pekin Hardy Strauss Inc. Has $10.94 Million Holdings in Devon Energy Co. (NYSE:DVN)

Pekin Hardy Strauss Inc. grew its holdings in shares of Devon Energy Co. (NYSE:DVN) by 0.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 230,804 shares of the energy company’s stock after purchasing an additional 1,149 shares during the period. Devon Energy comprises 1.5% of Pekin Hardy Strauss Inc.’s holdings, making the stock its 9th largest holding. Pekin Hardy Strauss Inc.’s holdings in Devon Energy were worth $10,940,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Lmcg Investments LLC lifted its holdings in shares of Devon Energy by 13.0% during the 2nd quarter. Lmcg Investments LLC now owns 51,993 shares of the energy company’s stock worth $2,464,000 after acquiring an additional 5,973 shares during the period. Citizens Financial Group Inc. RI lifted its holdings in shares of Devon Energy by 13.4% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 10,752 shares of the energy company’s stock worth $510,000 after acquiring an additional 1,272 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Devon Energy by 16.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,793,217 shares of the energy company’s stock worth $416,779,000 after acquiring an additional 1,255,543 shares during the period. Keene & Associates Inc. lifted its holdings in shares of Devon Energy by 1.0% during the 2nd quarter. Keene & Associates Inc. now owns 72,101 shares of the energy company’s stock worth $3,418,000 after acquiring an additional 696 shares during the period. Finally, Plato Investment Management Ltd lifted its holdings in shares of Devon Energy by 40.2% during the 2nd quarter. Plato Investment Management Ltd now owns 70,775 shares of the energy company’s stock worth $3,355,000 after acquiring an additional 20,283 shares during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Trading Up 0.5 %

DVN opened at $39.64 on Tuesday. Devon Energy Co. has a twelve month low of $39.02 and a twelve month high of $55.09. The company has a quick ratio of 1.03, a current ratio of 1.11 and a debt-to-equity ratio of 0.45. The company has a fifty day moving average of $44.50 and a 200-day moving average of $47.42. The stock has a market cap of $25.05 billion, a PE ratio of 7.56, a price-to-earnings-growth ratio of 1.13 and a beta of 2.03.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data 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. Devon Energy had a net margin of 22.60% and a return on equity of 29.14%. The company had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $3.90 billion. During the same period in the prior year, the company posted $1.18 earnings per share. Devon Energy’s revenue for the quarter was up 13.4% compared to the same quarter last year. On average, sell-side analysts predict that Devon Energy Co. will post 5.36 EPS for the current year.

Devon Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date is Friday, September 13th. Devon Energy’s payout ratio is 16.79%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on DVN shares. Susquehanna cut their price target on shares of Devon Energy from $65.00 to $63.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Sanford C. Bernstein dropped their price objective on shares of Devon Energy from $48.00 to $43.00 and set a “market perform” rating for the company in a research note on Wednesday, July 17th. BMO Capital Markets raised shares of Devon Energy to a “strong-buy” rating in a research note on Wednesday, July 3rd. Truist Financial dropped their price objective on shares of Devon Energy from $67.00 to $64.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Finally, Bank of America reissued a “buy” rating and issued a $64.00 price objective on shares of Devon Energy in a research note on Friday, June 14th. Six analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $57.63.

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.