Commerce Bank Has $1.05 Million Stock Position in Devon Energy Co. (NYSE:DVN)

Commerce Bank lessened its holdings in shares of Devon Energy Co. (NYSE:DVN) by 2.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,831 shares of the energy company’s stock after selling 713 shares during the quarter. Commerce Bank’s holdings in Devon Energy were worth $1,050,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of DVN. Triad Wealth Partners LLC acquired a new stake in Devon Energy during the 2nd quarter valued at $27,000. 1620 Investment Advisors Inc. bought a new stake in shares of Devon Energy during the 2nd quarter worth about $34,000. Capital Performance Advisors LLP acquired a new position in Devon Energy in the 3rd quarter valued at about $35,000. PSI Advisors LLC raised its holdings in Devon Energy by 66.7% in 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 during the period. Finally, LRI Investments LLC acquired a new stake in Devon Energy during the first quarter worth approximately $39,000. Institutional investors own 69.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on DVN shares. BMO Capital Markets decreased their price objective on Devon Energy from $52.00 to $48.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Morgan Stanley cut their price objective on shares of Devon Energy from $55.00 to $51.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Wells Fargo & Company lowered their target price on shares of Devon Energy from $50.00 to $49.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Truist Financial cut Devon Energy from a “buy” rating to a “hold” rating and cut their price target for the company from $49.00 to $43.00 in a research note on Thursday, November 7th. Finally, StockNews.com lowered Devon Energy from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $51.85.

Devon Energy Stock Up 1.9 %

Shares of NYSE:DVN opened at $39.45 on Monday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11. Devon Energy Co. has a 52-week low of $37.76 and a 52-week high of $55.09. The business’s 50 day simple moving average is $39.94 and its two-hundred day simple moving average is $43.90. The firm has a market cap of $25.91 billion, a P/E ratio of 7.32, a PEG ratio of 1.22 and a beta of 2.03.

Devon Energy (NYSE:DVN) last issued its earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.01. The company had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.72 billion. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. Devon Energy’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the business earned $1.65 EPS. As a group, research analysts forecast that Devon Energy Co. will post 4.79 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend is Friday, December 13th. Devon Energy’s payout ratio is presently 16.33%.

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.