Devon Energy Co. (NYSE:DVN) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC trimmed its position in Devon Energy Co. (NYSE:DVN) by 27.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,684 shares of the energy company’s stock after selling 24,417 shares during the period. Nisa Investment Advisors LLC’s holdings in Devon Energy were worth $2,570,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Triad Wealth Partners LLC purchased a new position in Devon Energy during the second quarter worth about $27,000. 1620 Investment Advisors Inc. purchased a new position in shares of Devon Energy during the 2nd quarter worth about $34,000. PSI Advisors LLC lifted its holdings in shares of Devon Energy by 66.7% during the 2nd 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. LRI Investments LLC acquired a new stake in shares of Devon Energy in the first quarter worth approximately $39,000. Finally, Future Financial Wealth Managment LLC purchased a new stake in Devon Energy in the third quarter valued at approximately $39,000. Institutional investors and hedge funds own 69.72% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on DVN shares. Truist Financial cut their price target on shares of Devon Energy from $60.00 to $49.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. BMO Capital Markets reduced their target price on Devon Energy from $52.00 to $48.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Mizuho dropped their price target on Devon Energy from $53.00 to $51.00 and set an “outperform” rating for the company in a research note on Wednesday, October 9th. Jefferies Financial Group started coverage on Devon Energy in a research note on Thursday, October 3rd. They issued a “hold” rating and a $45.00 price objective on the stock. Finally, Sanford C. Bernstein dropped their target price on shares of Devon Energy from $48.00 to $43.00 and set a “market perform” rating for the company in a research report on Wednesday, July 17th. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.53.

Devon Energy Stock Down 0.9 %

Shares of NYSE DVN opened at $38.32 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.03 and a current ratio of 1.11. Devon Energy Co. has a 1 year low of $37.76 and a 1 year high of $55.09. The stock’s 50-day simple moving average is $41.04 and its 200-day simple moving average is $45.33. The firm has a market cap of $24.00 billion, a price-to-earnings ratio of 6.95, a PEG ratio of 1.18 and a beta of 2.03.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, August 6th. The energy company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.15. The company had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $3.90 billion. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. Devon Energy’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.18 EPS. As a group, equities analysts anticipate that Devon Energy Co. will post 4.93 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. Shareholders of record on Friday, September 13th were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.30%. Devon Energy’s dividend payout ratio (DPR) is 15.97%.

About Devon Energy

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.