SkyOak Wealth LLC Increases Holdings in Devon Energy Co. (NYSE:DVN)

SkyOak Wealth LLC lifted 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 filing with the Securities and Exchange Commission. The institutional investor owned 6,297 shares of the energy company’s stock after buying an additional 250 shares during the period. SkyOak Wealth LLC’s holdings in Devon Energy were worth $298,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of DVN. Vanguard Group Inc. increased its stake in 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 during the period. Raymond James & Associates increased its stake in Devon Energy by 1.5% in the 2nd quarter. Raymond James & Associates now owns 9,183,778 shares of the energy company’s stock worth $435,311,000 after purchasing an additional 138,919 shares during the period. Dimensional Fund Advisors LP increased its stake in Devon Energy by 16.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,793,217 shares of the energy company’s stock worth $416,779,000 after purchasing an additional 1,255,543 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in Devon Energy by 3.8% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 4,699,410 shares of the energy company’s stock worth $222,752,000 after purchasing an additional 169,923 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Devon Energy by 0.4% in 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 purchasing an additional 18,443 shares during the period. 69.72% of the stock is owned by hedge funds and other institutional investors.

Devon Energy Trading Down 0.2 %

NYSE DVN opened at $40.37 on Thursday. The company has a quick ratio of 1.03, a current ratio of 1.11 and a debt-to-equity ratio of 0.45. Devon Energy Co. has a twelve month low of $39.02 and a twelve month high of $55.09. The firm has a market capitalization of $25.51 billion, a PE ratio of 7.70, a P/E/G ratio of 1.13 and a beta of 2.03. The stock’s 50 day moving average is $44.39 and its 200 day moving average is $47.39.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, August 6th. The energy company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.15. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. The company had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.90 billion. During the same period in the previous year, the company posted $1.18 earnings per share. The firm’s revenue was up 13.4% on a year-over-year basis. Research analysts forecast that Devon Energy Co. will post 5.36 earnings per share 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. Shareholders of record on Friday, September 13th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.18%. The ex-dividend date is Friday, September 13th. Devon Energy’s dividend payout ratio (DPR) is 16.79%.

Analysts Set New Price Targets

A number of equities analysts have commented on DVN shares. Truist Financial decreased their price target on Devon Energy from $67.00 to $64.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. BMO Capital Markets raised Devon Energy to a “strong-buy” rating in a research note on Wednesday, July 3rd. JPMorgan Chase & Co. reduced their target price on Devon Energy from $64.00 to $51.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. Susquehanna reduced their target price on Devon Energy from $65.00 to $63.00 and set a “positive” rating on the stock in a research note on Wednesday, September 4th. Finally, UBS Group reduced their target price on Devon Energy from $53.00 to $47.00 and set a “neutral” rating on the stock in a research note on Wednesday. Six equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Devon Energy currently has an average rating of “Moderate Buy” and an average target price of $57.00.

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.