EP Wealth Advisors LLC Has $426,000 Holdings in Devon Energy Co. (NYSE:DVN)

EP Wealth Advisors LLC decreased its position in Devon Energy Co. (NYSE:DVN) by 4.3% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 8,986 shares of the energy company’s stock after selling 407 shares during the period. EP Wealth Advisors LLC’s holdings in Devon Energy were worth $426,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Triad Wealth Partners LLC acquired a new stake in shares of Devon Energy in the second quarter worth $27,000. Tradewinds Capital Management LLC purchased a new stake in Devon Energy in the 1st quarter worth about $30,000. Jones Financial Companies Lllp lifted its stake in Devon Energy by 104.8% in the 4th quarter. Jones Financial Companies Lllp now owns 731 shares of the energy company’s stock worth $33,000 after acquiring an additional 374 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new position in Devon Energy during the 2nd quarter valued at about $34,000. Finally, PSI Advisors LLC grew its stake in Devon Energy by 66.7% during the 2nd quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock valued at $36,000 after acquiring an additional 300 shares in the last quarter. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Devon Energy Trading Up 3.2 %

Shares of DVN stock opened at $41.80 on Friday. Devon Energy Co. has a 12 month low of $37.76 and a 12 month high of $55.09. The company has a market cap of $26.42 billion, a PE ratio of 7.98, a price-to-earnings-growth ratio of 1.22 and a beta of 2.02. 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 business’s 50 day moving average is $42.83 and its two-hundred day moving average is $46.90.

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

Devon Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a $0.22 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.11%. Devon Energy’s payout ratio is presently 16.79%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Susquehanna reduced their price target on shares of Devon Energy from $65.00 to $63.00 and set a “positive” rating for the company in a research report on Wednesday, September 4th. Piper Sandler decreased their target price 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. Truist Financial lowered their price target on shares of Devon Energy from $60.00 to $49.00 and set a “buy” rating on the stock in a report on Monday. Sanford C. Bernstein cut their price objective on Devon Energy from $48.00 to $43.00 and set a “market perform” rating for the company in a report on Wednesday, July 17th. Finally, Evercore ISI lowered their target price on Devon Energy from $55.00 to $50.00 and set an “in-line” rating on the stock in a research note on Monday. Eight equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.11.

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.