55,093 Shares in Devon Energy Co. (NYSE:DVN) Bought by MBB Public Markets I LLC

MBB Public Markets I LLC purchased a new stake in shares of Devon Energy Co. (NYSE:DVN) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 55,093 shares of the energy company’s stock, valued at approximately $2,611,000.

Several other hedge funds have also recently added to or reduced their stakes in DVN. Vanguard Group Inc. raised its holdings in shares of Devon Energy by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 76,457,056 shares of the energy company’s stock valued at $3,836,615,000 after buying an additional 2,559,039 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Devon Energy by 16.8% in the 2nd quarter. Pacer Advisors Inc. now owns 9,913,516 shares of the energy company’s stock worth $469,901,000 after acquiring an additional 1,428,776 shares during the last quarter. Raymond James & Associates boosted its stake 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 purchasing an additional 138,919 shares in the last quarter. Dimensional Fund Advisors LP grew 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 valued at $416,779,000 after purchasing an additional 1,255,543 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its position in Devon Energy by 15.9% in the 2nd quarter. Thrivent Financial for Lutherans now owns 5,094,017 shares of the energy company’s stock worth $241,456,000 after purchasing an additional 699,743 shares during the period. Institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Performance

Shares of DVN stock opened at $38.96 on Friday. The company’s fifty day moving average price is $43.21 and its 200-day moving average price is $47.07. The stock has a market cap of $24.62 billion, a PE ratio of 7.44, a price-to-earnings-growth ratio of 1.22 and a beta of 2.03. The company has a current ratio of 1.11, a quick ratio of 1.03 and a debt-to-equity ratio of 0.45. Devon Energy Co. has a 12 month low of $37.76 and a 12 month high of $55.09.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data 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 net margin of 22.60% and a return on equity of 29.14%. The business had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.90 billion. During the same quarter in the previous year, the firm posted $1.18 earnings per share. Devon Energy’s quarterly revenue was up 13.4% on a year-over-year basis. On average, equities analysts expect that Devon Energy Co. will post 5.11 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend is Friday, September 13th. Devon Energy’s dividend payout ratio (DPR) is presently 16.79%.

Wall Street Analysts Forecast Growth

DVN has been the topic of several recent research reports. Wolfe Research started coverage on Devon Energy in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Susquehanna lowered 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. Wells Fargo & Company cut their price target on shares of Devon Energy from $57.00 to $55.00 and set an “overweight” rating on the stock in a report on Wednesday, August 14th. Piper Sandler lowered their price objective on shares of Devon Energy from $65.00 to $57.00 and set an “overweight” rating for the company in a research note on Thursday, August 15th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $57.00 target price on shares of Devon Energy in a research note on Tuesday, September 3rd. Six equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $57.00.

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.