Nilsine Partners LLC Increases Stock Holdings in Devon Energy Co. (NYSE:DVN)

Nilsine Partners LLC boosted its position in shares of Devon Energy Co. (NYSE:DVN) by 6.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,780 shares of the energy company’s stock after acquiring an additional 576 shares during the period. Nilsine Partners LLC’s holdings in Devon Energy were worth $464,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Triad Wealth Partners LLC bought a new position in shares of Devon Energy in the second quarter worth $27,000. Manchester Capital Management LLC purchased a new position in shares of Devon Energy in the fourth quarter worth $28,000. Tradewinds Capital Management LLC bought a new stake in Devon Energy during the 1st quarter valued at $30,000. Jones Financial Companies Lllp raised its holdings in Devon Energy by 104.8% during the 4th quarter. Jones Financial Companies Lllp now owns 731 shares of the energy company’s stock valued at $33,000 after buying an additional 374 shares during the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new stake in Devon Energy during the 2nd quarter valued at $34,000. Institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Down 0.5 %

Shares of DVN stock traded down $0.22 during trading hours on Friday, hitting $44.78. 5,832,476 shares of the company’s stock traded hands, compared to its average volume of 6,492,747. 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 stock has a market cap of $28.04 billion, a price-to-earnings ratio of 8.55, a PEG ratio of 1.26 and a beta of 2.07. The stock’s fifty day simple moving average is $45.85 and its two-hundred day simple moving average is $47.58. Devon Energy Co. has a 12-month low of $40.47 and a 12-month high of $55.09.

Devon Energy (NYSE:DVN) last released its earnings results on Tuesday, August 6th. The energy company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.26 by $0.15. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. The business had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $3.90 billion. During the same period in the previous year, the company posted $1.18 earnings per share. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. On average, analysts expect that Devon Energy Co. will post 5.37 EPS for the current year.

Devon Energy Dividend Announcement

The company also recently disclosed 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. This represents a $0.88 annualized dividend and a yield of 1.97%. The ex-dividend date is Friday, September 13th. Devon Energy’s dividend payout ratio (DPR) is 16.79%.

Analysts Set New Price Targets

Several brokerages have recently commented on DVN. Susquehanna reaffirmed a “positive” rating and set a $65.00 price objective on shares of Devon Energy in a research note on Tuesday, July 9th. Bank of America reaffirmed a “buy” rating and set a $64.00 price target on shares of Devon Energy in a research report on Friday, June 14th. Piper Sandler cut their price objective on Devon Energy from $65.00 to $57.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. BMO Capital Markets upgraded Devon Energy to a “strong-buy” rating in a report on Wednesday, July 3rd. Finally, Mizuho lifted their price target on shares of Devon Energy from $57.00 to $61.00 and gave the company a “buy” rating in a report on Monday, May 13th. Five research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Devon Energy presently has an average rating of “Moderate Buy” and a consensus price target of $58.75.

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.