Captrust Financial Advisors Has $54.41 Million Stock Position in Devon Energy Co. (NYSE:DVN)

Captrust Financial Advisors increased its stake in shares of Devon Energy Co. (NYSE:DVN) by 0.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,390,882 shares of the energy company’s stock after acquiring an additional 10,890 shares during the quarter. Captrust Financial Advisors owned about 0.21% of Devon Energy worth $54,411,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of DVN. William B. Walkup & Associates Inc. acquired a new stake in shares of Devon Energy during the 2nd quarter worth approximately $1,026,000. CIBC Asset Management Inc boosted its stake in Devon Energy by 6.3% during the third quarter. CIBC Asset Management Inc now owns 107,182 shares of the energy company’s stock worth $4,193,000 after buying an additional 6,358 shares in the last quarter. Smead Capital Management Inc. increased its holdings in Devon Energy by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 5,879,516 shares of the energy company’s stock valued at $230,007,000 after buying an additional 198,193 shares during the period. Nations Financial Group Inc. IA ADV acquired a new position in shares of Devon Energy in the 3rd quarter valued at $592,000. Finally, Gordian Capital Singapore Pte Ltd bought a new position in shares of Devon Energy during the 2nd quarter worth about $711,000. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Devon Energy Stock Up 0.3 %

NYSE:DVN opened at $37.95 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61. Devon Energy Co. has a 12-month low of $37.28 and a 12-month high of $55.09. The stock’s fifty day simple moving average is $39.74 and its 200-day simple moving average is $43.64. The firm has a market capitalization of $24.93 billion, a P/E ratio of 7.04, a P/E/G ratio of 1.20 and a beta of 2.03.

Devon Energy (NYSE:DVN) last issued its earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.01. The firm had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.72 billion. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The company’s revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.65 earnings per share. Equities research analysts expect that Devon Energy Co. will post 4.79 earnings per share for the current year.

Devon Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date is Friday, December 13th. Devon Energy’s dividend payout ratio is currently 16.33%.

Analyst Upgrades and Downgrades

DVN has been the topic of a number of analyst reports. Citigroup lowered their target price on shares of Devon Energy from $55.00 to $48.00 and set a “buy” rating on the stock in a research note on Tuesday. Evercore ISI dropped their target price on Devon Energy from $55.00 to $50.00 and set an “in-line” rating for the company in a report on Monday, September 30th. JPMorgan Chase & Co. decreased their price target on Devon Energy from $64.00 to $51.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. Truist Financial cut Devon Energy from a “buy” rating to a “hold” rating and cut their price objective for the company from $49.00 to $43.00 in a report on Thursday, November 7th. Finally, Morgan Stanley lowered their target price on shares of Devon Energy from $55.00 to $51.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $51.15.

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.