Devon Energy Co. (NYSE:DVN) Holdings Trimmed by Jackson Creek Investment Advisors LLC

Jackson Creek Investment Advisors LLC reduced its position in shares of Devon Energy Co. (NYSE:DVN) by 4.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,283 shares of the energy company’s stock after selling 272 shares during the period. Jackson Creek Investment Advisors LLC’s holdings in Devon Energy were worth $298,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Devon Energy by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 76,457,056 shares of the energy company’s stock worth $3,836,615,000 after purchasing an additional 2,559,039 shares in the last quarter. Raymond James & Associates increased its holdings in shares of Devon Energy by 1.5% in the second quarter. Raymond James & Associates now owns 9,183,778 shares of the energy company’s stock valued at $435,311,000 after buying an additional 138,919 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Devon Energy by 26.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,077,042 shares of the energy company’s stock valued at $320,609,000 after buying an additional 1,488,374 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in shares of Devon Energy by 3.8% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 4,699,410 shares of the energy company’s stock valued at $222,752,000 after acquiring an additional 169,923 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Devon Energy by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,680,448 shares of the energy company’s stock worth $221,853,000 after acquiring an additional 18,443 shares in the last quarter. 69.72% of the stock is currently owned by institutional investors.

Devon Energy Price Performance

Shares of DVN opened at $42.24 on Thursday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.03 and a current ratio of 1.11. The firm has a market cap of $26.45 billion, a PE ratio of 8.06, a PEG ratio of 1.26 and a beta of 2.07. Devon Energy Co. has a twelve month low of $40.47 and a twelve month high of $55.09. The firm’s 50 day moving average price is $45.61 and its 200 day moving average price is $47.59.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, August 6th. The energy company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.15. The business had revenue of $3.92 billion during 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 quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.18 EPS. As a group, research analysts expect that Devon Energy Co. will post 5.37 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.88 annualized dividend and a yield of 2.08%. Devon Energy’s dividend payout ratio (DPR) is currently 16.79%.

Analyst Ratings Changes

DVN has been the subject of several analyst reports. Mizuho upped their target price on Devon Energy from $57.00 to $61.00 and gave the company a “buy” rating in a report on Monday, May 13th. Morgan Stanley upped their price objective on shares of Devon Energy from $52.00 to $54.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. Sanford C. Bernstein dropped their target price on shares of Devon Energy from $48.00 to $43.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 17th. Truist Financial reduced their price target on shares of Devon Energy from $67.00 to $64.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Devon Energy from $62.00 to $64.00 and gave the stock an “overweight” rating in a research report on Monday, July 8th. Six analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $58.63.

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.