Cliftonlarsonallen Wealth Advisors LLC Acquires 323 Shares of Devon Energy Co. (NYSE:DVN)

Cliftonlarsonallen Wealth Advisors LLC increased its holdings in Devon Energy Co. (NYSE:DVN) by 0.3% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 97,974 shares of the energy company’s stock after buying an additional 323 shares during the quarter. Cliftonlarsonallen Wealth Advisors LLC’s holdings in Devon Energy were worth $3,833,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of DVN. Creative Planning grew its position in Devon Energy by 33.6% in the 3rd quarter. Creative Planning now owns 132,206 shares of the energy company’s stock worth $5,172,000 after purchasing an additional 33,249 shares during the period. Adamsbrown Wealth Consultants LLC grew its holdings in shares of Devon Energy by 12.0% in the third quarter. Adamsbrown Wealth Consultants LLC now owns 9,885 shares of the energy company’s stock worth $387,000 after acquiring an additional 1,056 shares during the period. Oliver Luxxe Assets LLC grew its holdings in shares of Devon Energy by 2.5% in the third quarter. Oliver Luxxe Assets LLC now owns 116,487 shares of the energy company’s stock worth $4,557,000 after acquiring an additional 2,847 shares during the period. Shikiar Asset Management Inc. increased its position in Devon Energy by 63.4% during the third quarter. Shikiar Asset Management Inc. now owns 185,955 shares of the energy company’s stock valued at $7,275,000 after acquiring an additional 72,155 shares during the last quarter. Finally, Exchange Traded Concepts LLC bought a new position in Devon Energy in the third quarter valued at about $200,000. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on DVN shares. Wolfe Research started coverage on Devon Energy in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Mizuho reduced their price objective on Devon Energy from $53.00 to $51.00 and set an “outperform” rating for the company in a research note on Wednesday, October 9th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $57.00 price objective on shares of Devon Energy in a research note on Tuesday, September 3rd. Truist Financial cut their price objective on Devon Energy from $60.00 to $49.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Finally, Jefferies Financial Group started coverage on shares of Devon Energy in a report on Thursday, October 3rd. They set a “hold” rating and a $45.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $52.58.

Devon Energy Stock Down 0.2 %

Shares of NYSE DVN opened at $42.89 on Tuesday. The stock has a market capitalization of $27.11 billion, a price-to-earnings ratio of 8.19, a P/E/G ratio of 1.27 and a beta of 2.02. Devon Energy Co. has a 12-month low of $37.76 and a 12-month high of $55.09. The company has a current ratio of 1.11, a quick ratio of 1.03 and a debt-to-equity ratio of 0.45. The firm’s 50-day moving average price is $42.40 and its 200-day moving average price is $46.53.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, August 6th. The energy company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.15. The business had revenue of $3.92 billion during the quarter, compared to analyst estimates of $3.90 billion. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same period last year, the company earned $1.18 EPS. On average, equities research analysts anticipate that Devon Energy Co. will post 5.01 EPS for the current fiscal year.

Devon Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were issued a $0.22 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.88 annualized dividend and a dividend yield of 2.05%. Devon Energy’s dividend payout ratio (DPR) is presently 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.