PFG Investments LLC Grows Position in Devon Energy Co. (NYSE:DVN)

PFG Investments LLC increased its position in Devon Energy Co. (NYSE:DVN) by 16.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,047 shares of the energy company’s stock after buying an additional 3,898 shares during the quarter. PFG Investments LLC’s holdings in Devon Energy were worth $1,097,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DVN. Retirement Group LLC lifted its position in Devon Energy by 21.8% in the 1st quarter. Retirement Group LLC now owns 1,110 shares of the energy company’s stock valued at $56,000 after acquiring an additional 199 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Devon Energy by 7.4% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 3,046 shares of the energy company’s stock valued at $153,000 after purchasing an additional 209 shares in the last quarter. Annex Advisory Services LLC boosted its position in shares of Devon Energy by 0.8% during the second quarter. Annex Advisory Services LLC now owns 27,651 shares of the energy company’s stock valued at $1,311,000 after buying an additional 223 shares during the last quarter. Versant Capital Management Inc increased its holdings in Devon Energy by 30.4% in the 2nd quarter. Versant Capital Management Inc now owns 970 shares of the energy company’s stock worth $46,000 after buying an additional 226 shares in the last quarter. Finally, Magnolia Capital Advisors LLC raised its position in Devon Energy by 1.0% in the 1st quarter. Magnolia Capital Advisors LLC now owns 23,316 shares of the energy company’s stock worth $1,208,000 after buying an additional 230 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors.

Devon Energy Stock Down 0.8 %

DVN opened at $39.19 on Monday. Devon Energy Co. has a fifty-two week low of $37.76 and a fifty-two week high of $55.09. 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 stock has a market cap of $24.54 billion, a price-to-earnings ratio of 7.11, a price-to-earnings-growth ratio of 1.22 and a beta of 2.02. The firm’s fifty day moving average is $41.62 and its 200 day moving average is $45.74.

Devon Energy (NYSE:DVN) last released its quarterly earnings data 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 firm had revenue of $3.92 billion during 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 business’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.18 earnings per share. On average, sell-side analysts forecast that Devon Energy Co. will post 4.98 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

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 2.25%. The ex-dividend date was Friday, September 13th. Devon Energy’s payout ratio is currently 15.97%.

Wall Street Analyst Weigh In

DVN has been the topic of a number of recent analyst reports. Jefferies Financial Group initiated 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. Wells Fargo & Company reaffirmed a “sector outperform” rating on shares of Devon Energy in a research report on Friday, October 18th. StockNews.com cut Devon Energy from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. BMO Capital Markets cut their price objective on Devon Energy from $52.00 to $48.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Finally, Truist Financial lowered their target price on Devon Energy from $60.00 to $49.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average 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.