Caprock Group LLC Acquires 27,012 Shares of Devon Energy Co. (NYSE:DVN)

Caprock Group LLC raised its position in Devon Energy Co. (NYSE:DVN) by 114.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 50,585 shares of the energy company’s stock after acquiring an additional 27,012 shares during the period. Caprock Group LLC’s holdings in Devon Energy were worth $1,979,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. William B. Walkup & Associates Inc. acquired a new stake in Devon Energy in the second quarter valued at approximately $1,026,000. CIBC Asset Management Inc boosted its stake in Devon Energy by 6.3% in the third quarter. CIBC Asset Management Inc now owns 107,182 shares of the energy company’s stock valued at $4,193,000 after acquiring an additional 6,358 shares in the last quarter. Nations Financial Group Inc. IA ADV acquired a new stake in Devon Energy in the third quarter valued at approximately $592,000. Gordian Capital Singapore Pte Ltd acquired a new stake in Devon Energy in the second quarter valued at approximately $711,000. Finally, New York State Teachers Retirement System boosted its stake in Devon Energy by 14.2% in the third quarter. New York State Teachers Retirement System now owns 704,831 shares of the energy company’s stock valued at $27,573,000 after acquiring an additional 87,462 shares in the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Devon Energy Stock Performance

NYSE:DVN opened at $38.30 on Thursday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01. The firm has a market capitalization of $25.16 billion, a price-to-earnings ratio of 7.11, a PEG ratio of 1.20 and a beta of 2.03. The company’s 50-day moving average is $39.96 and its two-hundred day moving average is $44.11. Devon Energy Co. has a 1-year low of $37.76 and a 1-year high of $55.09.

Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.01. The company had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.72 billion. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. Devon Energy’s revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.65 EPS. Analysts forecast that Devon Energy Co. will post 4.84 EPS for the current year.

Devon Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date is Friday, December 13th. Devon Energy’s dividend payout ratio is presently 16.33%.

Analyst Ratings Changes

Several research firms have recently commented on DVN. Truist Financial downgraded shares of Devon Energy from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $49.00 to $43.00 in a research note on Thursday, November 7th. JPMorgan Chase & Co. lowered their price objective on shares of Devon Energy from $64.00 to $51.00 and set an “overweight” rating for the company in a research note on Thursday, September 12th. StockNews.com downgraded shares of Devon Energy from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. BMO Capital Markets lowered their price objective on shares of Devon Energy from $52.00 to $48.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Finally, Mizuho lowered their price objective on shares of Devon Energy from $53.00 to $51.00 and set an “outperform” rating for the company in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $51.85.

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.