Dynamic Advisor Solutions LLC Has $817,000 Stock Holdings in Devon Energy Co. (NYSE:DVN)

Dynamic Advisor Solutions LLC reduced its stake in shares of Devon Energy Co. (NYSE:DVN) by 4.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 20,882 shares of the energy company’s stock after selling 1,017 shares during the period. Dynamic Advisor Solutions LLC’s holdings in Devon Energy were worth $817,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of DVN. Vanguard Group Inc. raised its holdings in shares of Devon Energy by 3.5% during the first quarter. Vanguard Group Inc. now owns 76,457,056 shares of the energy company’s stock worth $3,836,615,000 after acquiring an additional 2,559,039 shares during the period. Pacer Advisors Inc. raised its stake in shares of Devon Energy by 16.8% in the 2nd quarter. Pacer Advisors Inc. now owns 9,913,516 shares of the energy company’s stock valued at $469,901,000 after purchasing an additional 1,428,776 shares during the period. Raymond James & Associates lifted 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 purchasing an additional 138,919 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Devon Energy by 16.7% during the second quarter. Dimensional Fund Advisors LP now owns 8,793,217 shares of the energy company’s stock worth $416,779,000 after buying an additional 1,255,543 shares during the period. Finally, Thrivent Financial for Lutherans grew its holdings in shares of Devon Energy by 15.9% during the second quarter. Thrivent Financial for Lutherans now owns 5,094,017 shares of the energy company’s stock worth $241,456,000 after buying an additional 699,743 shares in the last quarter. Institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Up 0.2 %

DVN stock opened at $42.96 on Friday. The business’s 50 day simple moving average is $42.37 and its 200 day simple moving average is $46.62. Devon Energy Co. has a 1-year low of $37.76 and a 1-year high of $55.09. The firm has a market capitalization of $26.90 billion, a PE ratio of 7.80, a PEG ratio of 1.27 and a beta of 2.02. The company has a current ratio of 1.11, a quick ratio of 1.03 and a debt-to-equity ratio of 0.45.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, August 6th. The energy company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.26 by $0.15. The firm had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $3.90 billion. Devon Energy had a net margin of 22.60% and a return on equity of 29.14%. The company’s quarterly revenue was up 13.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.18 earnings per share. As a group, research analysts anticipate that Devon Energy Co. will post 5.01 EPS for the current year.

Devon Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were given a dividend of $0.22 per share. The ex-dividend date was Friday, September 13th. This represents a $0.88 annualized dividend and a yield of 2.05%. Devon Energy’s dividend payout ratio (DPR) is presently 15.97%.

Analysts Set New Price Targets

Several equities research analysts have commented on DVN shares. JPMorgan Chase & Co. cut 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. Piper Sandler cut their price objective on shares of Devon Energy from $65.00 to $57.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. StockNews.com downgraded shares of Devon Energy from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Morgan Stanley cut their price target on shares of Devon Energy from $55.00 to $51.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Finally, Susquehanna reduced their price objective on shares of Devon Energy from $65.00 to $63.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. Eight investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Devon Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.63.

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.