Loomis Sayles & Co. L P Grows Stock Holdings in Devon Energy Co. (NYSE:DVN)

Loomis Sayles & Co. L P lifted its position in shares of Devon Energy Co. (NYSE:DVN) by 1,365.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,321 shares of the energy company’s stock after purchasing an additional 13,344 shares during the period. Loomis Sayles & Co. L P’s holdings in Devon Energy were worth $560,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Triad Wealth Partners LLC bought a new stake in Devon Energy in the second quarter valued at $27,000. 1620 Investment Advisors Inc. purchased a new stake in shares of Devon Energy in the 2nd quarter worth about $34,000. Capital Performance Advisors LLP bought a new stake in shares of Devon Energy during the 3rd quarter valued at about $35,000. PSI Advisors LLC increased its position in shares of Devon Energy by 66.7% during the second quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock valued at $36,000 after buying an additional 300 shares during the period. Finally, LRI Investments LLC bought a new position in Devon Energy in the first quarter worth about $39,000. 69.72% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

DVN has been the topic of several research reports. JPMorgan Chase & Co. cut their price objective on Devon Energy from $64.00 to $51.00 and set an “overweight” rating on the stock in a research report on Thursday, September 12th. Jefferies Financial Group started coverage on Devon Energy in a research note on Thursday, October 3rd. They issued a “hold” rating and a $45.00 price target on the stock. Benchmark reissued a “hold” rating on shares of Devon Energy in a research report on Tuesday, October 15th. TD Cowen reduced their target price on shares of Devon Energy from $54.00 to $46.00 and set a “hold” rating on the stock in a research report on Tuesday, November 5th. Finally, Piper Sandler lifted their price target on shares of Devon Energy from $56.00 to $57.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $51.15.

Devon Energy Trading Up 0.3 %

Shares of NYSE:DVN opened at $37.84 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01. Devon Energy Co. has a 1 year low of $37.28 and a 1 year high of $55.09. The company has a market cap of $24.86 billion, a P/E ratio of 7.02, a PEG ratio of 1.21 and a beta of 2.03. The stock’s fifty day moving average price is $39.80 and its 200-day moving average price is $43.69.

Devon Energy (NYSE:DVN) last issued its earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.01. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The business had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same quarter in the previous year, the firm earned $1.65 EPS. Devon Energy’s revenue was up 4.9% on a year-over-year basis. Sell-side analysts expect that Devon Energy Co. will post 4.79 earnings per share for the current year.

Devon Energy Dividend Announcement

The business also recently announced 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 yield of 2.33%. The ex-dividend date of this dividend is Friday, December 13th. Devon Energy’s dividend payout ratio (DPR) 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.