DekaBank Deutsche Girozentrale Reduces Position in Devon Energy Co. (NYSE:DVN)

DekaBank Deutsche Girozentrale lowered its stake in shares of Devon Energy Co. (NYSE:DVN) by 4.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 214,315 shares of the energy company’s stock after selling 10,583 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Devon Energy were worth $8,311,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in DVN. Retirement Group LLC increased its position in Devon Energy by 21.8% during the first quarter. Retirement Group LLC now owns 1,110 shares of the energy company’s stock worth $56,000 after purchasing an additional 199 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in Devon Energy by 7.4% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 3,046 shares of the energy company’s stock valued at $153,000 after acquiring an additional 209 shares during the last quarter. Annex Advisory Services LLC grew its position in Devon Energy by 0.8% in the second quarter. Annex Advisory Services LLC now owns 27,651 shares of the energy company’s stock worth $1,311,000 after acquiring an additional 223 shares during the period. Versant Capital Management Inc raised its position in Devon Energy by 30.4% in the second quarter. Versant Capital Management Inc now owns 970 shares of the energy company’s stock valued at $46,000 after purchasing an additional 226 shares during the period. Finally, Magnolia Capital Advisors LLC raised its position in Devon Energy by 1.0% in the first quarter. Magnolia Capital Advisors LLC now owns 23,316 shares of the energy company’s stock valued at $1,208,000 after purchasing an additional 230 shares during the period. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on DVN shares. Wolfe Research began coverage on Devon Energy in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $57.00 price target on shares of Devon Energy in a research report on Tuesday, September 3rd. Truist Financial decreased their price objective on shares of Devon Energy from $60.00 to $49.00 and set a “buy” rating on the stock in a report on Monday, September 30th. JPMorgan Chase & Co. dropped their target price on shares of Devon Energy from $64.00 to $51.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. Finally, Evercore ISI decreased their price target on Devon Energy from $55.00 to $50.00 and set an “in-line” rating on the stock in a research note on Monday, September 30th. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $52.53.

Devon Energy Stock Up 0.5 %

Shares of Devon Energy stock opened at $38.34 on Thursday. The company has a quick ratio of 1.03, a current ratio of 1.11 and a debt-to-equity ratio of 0.45. Devon Energy Co. has a 52-week low of $37.76 and a 52-week high of $55.09. The company has a market capitalization of $24.01 billion, a P/E ratio of 6.96, a P/E/G ratio of 1.22 and a beta of 2.02. The company has a 50 day moving average of $41.26 and a 200 day moving average of $45.48.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, August 6th. The energy company reported $1.41 earnings per share (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 during the quarter, compared to analysts’ expectations of $3.90 billion. During the same period in the previous year, the company earned $1.18 EPS. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. As a group, research analysts forecast that Devon Energy Co. will post 4.98 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.30%. The ex-dividend date was Friday, September 13th. Devon Energy’s dividend payout ratio (DPR) is presently 15.97%.

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.