21,648 Shares in Devon Energy Co. (NYSE:DVN) Acquired by William B. Walkup & Associates Inc.

William B. Walkup & Associates Inc. acquired a new stake in shares of Devon Energy Co. (NYSE:DVN) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 21,648 shares of the energy company’s stock, valued at approximately $1,026,000.

Several other hedge funds also recently bought and sold shares of the business. Triad Wealth Partners LLC purchased a new stake in shares of Devon Energy during the second quarter valued at $27,000. Tradewinds Capital Management LLC purchased a new stake in Devon Energy in the 1st quarter valued at about $30,000. 1620 Investment Advisors Inc. purchased a new stake in Devon Energy in the 2nd quarter valued at about $34,000. Jones Financial Companies Lllp grew its stake in Devon Energy by 104.8% in the 4th quarter. Jones Financial Companies Lllp now owns 731 shares of the energy company’s stock worth $33,000 after acquiring an additional 374 shares in the last quarter. Finally, 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 worth $36,000 after acquiring an additional 300 shares during the period. Institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Up 2.9 %

Devon Energy stock opened at $38.96 on Monday. The business has a fifty day moving average price of $43.21 and a 200-day moving average price of $47.07. Devon Energy Co. has a 1-year low of $37.76 and a 1-year high of $55.09. The stock has a market capitalization of $24.62 billion, a price-to-earnings ratio of 7.44, a PEG ratio of 1.22 and a beta of 2.03. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.11 and a quick ratio of 1.03.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, August 6th. The energy company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.15. The business had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.90 billion. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. The company’s revenue was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.18 earnings per share. Equities research analysts forecast that Devon Energy Co. will post 5.11 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be given a dividend of $0.22 per share. The ex-dividend date is Friday, September 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.26%. Devon Energy’s dividend payout ratio is currently 16.79%.

Analysts Set New Price Targets

A number of analysts recently issued reports on DVN shares. UBS Group lowered their price target on Devon Energy from $53.00 to $47.00 and set a “neutral” rating for the company in a report on Wednesday, September 18th. Wells Fargo & Company lowered their target price on Devon Energy from $57.00 to $55.00 and set an “overweight” rating for the company in a report on Wednesday, August 14th. Royal Bank of Canada restated a “sector perform” rating and set a $57.00 price target on shares of Devon Energy in a research note on Tuesday, September 3rd. Piper Sandler lowered their price objective on shares of Devon Energy from $65.00 to $57.00 and set an “overweight” rating for the company in a research note on Thursday, August 15th. Finally, BMO Capital Markets raised shares of Devon Energy to a “strong-buy” rating in a research report on Wednesday, July 3rd. 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 MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.00.

Devon Energy Company 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.