Sei Investments Co. Has $12.31 Million Position in Devon Energy Co. (NYSE:DVN)

Sei Investments Co. increased its holdings in Devon Energy Co. (NYSE:DVN) by 13.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 259,674 shares of the energy company’s stock after purchasing an additional 31,175 shares during the period. Sei Investments Co.’s holdings in Devon Energy were worth $12,309,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Triad Wealth Partners LLC acquired a new position in shares of Devon Energy in the 2nd quarter worth approximately $27,000. Tradewinds Capital Management LLC acquired a new position in Devon Energy during the first quarter worth $30,000. 1620 Investment Advisors Inc. bought a new position in shares of Devon Energy during the second quarter valued at $34,000. Jones Financial Companies Lllp boosted its stake in shares of Devon Energy by 104.8% in the 4th quarter. Jones Financial Companies Lllp now owns 731 shares of the energy company’s stock valued at $33,000 after purchasing an additional 374 shares in the last quarter. Finally, PSI Advisors LLC grew its holdings in shares of Devon Energy by 66.7% in the 2nd quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock worth $36,000 after purchasing an additional 300 shares during the last quarter. Institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Performance

DVN stock opened at $38.96 on Friday. Devon Energy Co. has a twelve month low of $37.76 and a twelve month high of $55.09. 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 company has a market cap of $24.62 billion, a P/E ratio of 7.44, a price-to-earnings-growth ratio of 1.22 and a beta of 2.03. The business’s fifty day moving average is $43.21 and its 200-day moving average is $47.06.

Devon Energy (NYSE:DVN) last released its earnings results on Tuesday, August 6th. The energy company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.15. The firm had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.90 billion. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. The company’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.18 earnings per share. Equities research analysts forecast that Devon Energy Co. will post 5.11 EPS for the current year.

Devon Energy Announces Dividend

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 paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend is Friday, September 13th. Devon Energy’s payout ratio is 16.79%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Royal Bank of Canada reissued a “sector perform” rating and set a $57.00 price target on shares of Devon Energy in a report on Tuesday, September 3rd. BMO Capital Markets raised Devon Energy to a “strong-buy” rating in a report on Wednesday, July 3rd. Morgan Stanley dropped their price target on Devon Energy from $55.00 to $51.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Bank of America reissued a “buy” rating and issued a $64.00 price objective on shares of Devon Energy in a research note on Friday, June 14th. Finally, StockNews.com lowered Devon Energy from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Six analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Devon Energy has an average rating of “Moderate Buy” and an average target price of $57.00.

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.