Leo Wealth LLC Makes New Investment in Devon Energy Co. (NYSE:DVN)

Leo Wealth LLC purchased a new stake in Devon Energy Co. (NYSE:DVN) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,151 shares of the energy company’s stock, valued at approximately $202,000.

Several other institutional investors have also made changes to their positions in the stock. Triad Wealth Partners LLC acquired a new stake in Devon Energy during the second quarter worth about $27,000. Tradewinds Capital Management LLC acquired a new stake in shares of Devon Energy during the 1st quarter worth approximately $30,000. 1620 Investment Advisors Inc. bought a new position in Devon Energy in the second quarter valued at approximately $34,000. PSI Advisors LLC raised its position in 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 purchasing an additional 300 shares in the last quarter. Finally, LRI Investments LLC bought a new stake in Devon Energy during the first quarter worth $39,000. 69.72% of the stock is currently owned by institutional investors.

Devon Energy Price Performance

DVN stock opened at $39.51 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. The firm has a market cap of $24.97 billion, a price-to-earnings ratio of 7.54, a PEG ratio of 1.27 and a beta of 2.02. The company’s fifty day simple moving average is $41.96 and its 200 day simple moving average is $46.05. Devon Energy Co. has a 12-month low of $37.76 and a 12-month high of $55.09.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, August 6th. The energy company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $3.90 billion. During the same period in the previous year, the business earned $1.18 EPS. The firm’s revenue was up 13.4% compared to the same quarter last year. On average, analysts expect that Devon Energy Co. will post 5.01 earnings per share for the current year.

Devon Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend was Friday, September 13th. Devon Energy’s dividend payout ratio (DPR) is 16.79%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on DVN shares. Scotiabank decreased their price target on Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Truist Financial dropped their target price on shares of Devon Energy from $60.00 to $49.00 and set a “buy” rating for the company in a report on Monday, September 30th. Jefferies Financial Group assumed coverage on shares of Devon Energy in a report on Thursday, October 3rd. They set a “hold” rating and a $45.00 price target on the stock. Evercore ISI dropped their price objective on shares of Devon Energy from $55.00 to $50.00 and set an “in-line” rating for the company in a research note on Monday, September 30th. Finally, Susquehanna decreased their target price on shares of Devon Energy from $63.00 to $62.00 and set a “positive” rating on the stock in a research note on Friday, October 18th. Nine analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Devon Energy has a consensus rating of “Moderate Buy” and an average target price of $52.53.

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.