Ensign Peak Advisors Inc Has $5.33 Million Position in Devon Energy Co. (NYSE:DVN)

Ensign Peak Advisors Inc cut its position in shares of Devon Energy Co. (NYSE:DVN) by 5.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 112,472 shares of the energy company’s stock after selling 6,520 shares during the period. Ensign Peak Advisors Inc’s holdings in Devon Energy were worth $5,331,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of DVN. Triad Wealth Partners LLC acquired a new position in shares of Devon Energy in the second quarter valued at $27,000. Tradewinds Capital Management LLC bought a new position in Devon Energy in the 1st quarter valued at about $30,000. Jones Financial Companies Lllp lifted its position in Devon Energy by 104.8% during the fourth quarter. Jones Financial Companies Lllp now owns 731 shares of the energy company’s stock worth $33,000 after acquiring an additional 374 shares during the last quarter. 1620 Investment Advisors Inc. bought a new stake in shares of Devon Energy during the second quarter worth approximately $34,000. Finally, PSI Advisors LLC grew its position in shares of Devon Energy by 66.7% in the second quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock valued at $36,000 after purchasing an additional 300 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on DVN shares. StockNews.com lowered Devon Energy from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Piper Sandler decreased their target price on shares of 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 raised Devon Energy to a “strong-buy” rating in a research report on Wednesday, July 3rd. Susquehanna reduced their target price on Devon Energy from $65.00 to $63.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Devon Energy from $64.00 to $51.00 and set an “overweight” rating on the stock in a report on Thursday, September 12th. 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 stock. Based on data from MarketBeat.com, Devon Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.00.

Devon Energy Trading Down 3.0 %

Shares of DVN stock opened at $39.80 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. The firm has a market capitalization of $24.92 billion, a P/E ratio of 7.60, a P/E/G ratio of 1.22 and a beta of 2.03. Devon Energy Co. has a twelve month low of $39.02 and a twelve month high of $55.09. The stock’s fifty day simple moving average is $43.60 and its 200 day simple moving average is $47.18.

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, beating 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 company had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $3.90 billion. During the same quarter in the prior year, the firm posted $1.18 earnings per share. The firm’s revenue was up 13.4% compared to the same quarter last year. As a group, sell-side analysts predict that Devon Energy Co. will post 5.11 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.22 per share. The ex-dividend date is Friday, September 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.21%. Devon Energy’s dividend payout ratio (DPR) is presently 16.79%.

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.