Atria Investments Inc Has $3.33 Million Stake in Devon Energy Co. (NYSE:DVN)

Atria Investments Inc increased its stake in Devon Energy Co. (NYSE:DVN) by 4.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 84,990 shares of the energy company’s stock after purchasing an additional 3,393 shares during the quarter. Atria Investments Inc’s holdings in Devon Energy were worth $3,325,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in DVN. Vanguard Group Inc. boosted its holdings in Devon Energy by 3.5% during the first quarter. Vanguard Group Inc. now owns 76,457,056 shares of the energy company’s stock valued at $3,836,615,000 after acquiring an additional 2,559,039 shares during the period. International Assets Investment Management LLC lifted its position in shares of Devon Energy by 4,125.7% during the 3rd quarter. International Assets Investment Management LLC now owns 2,280,961 shares of the energy company’s stock worth $89,231,000 after purchasing an additional 2,226,983 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Devon Energy by 16.8% during 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. Los Angeles Capital Management LLC grew its holdings in Devon Energy by 7,165.6% in the 2nd quarter. Los Angeles Capital Management LLC now owns 1,376,253 shares of the energy company’s stock valued at $65,234,000 after buying an additional 1,357,311 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Devon Energy by 16.7% in the 2nd 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. Institutional investors own 69.72% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Mizuho reduced their price objective on Devon Energy from $53.00 to $51.00 and set an “outperform” rating for the company in a research report on Wednesday, October 9th. Morgan Stanley decreased 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. Sanford C. Bernstein cut their price objective 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. Truist Financial downgraded Devon Energy from a “buy” rating to a “hold” rating and decreased their target price for the stock from $49.00 to $43.00 in a research report on Thursday, November 7th. Finally, Evercore ISI cut their price target on Devon Energy from $55.00 to $50.00 and set an “in-line” rating for the company in a report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $51.80.

Devon Energy Trading Up 2.0 %

Shares of Devon Energy stock opened at $39.10 on Thursday. The stock has a market capitalization of $25.68 billion, a P/E ratio of 7.25, a price-to-earnings-growth ratio of 1.19 and a beta of 2.03. Devon Energy Co. has a 12-month low of $37.76 and a 12-month high of $55.09. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61. The company has a 50-day simple moving average of $40.20 and a 200 day simple moving average of $44.55.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.01. The company had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.72 billion. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The company’s revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the business posted $1.65 earnings per share. Research analysts expect that Devon Energy Co. will post 4.86 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date is Friday, December 13th. Devon Energy’s dividend payout ratio is currently 16.33%.

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.