Harbour Investments Inc. Has $560,000 Stock Holdings in Devon Energy Co. (NYSE:DVN)

Harbour Investments Inc. cut its holdings in Devon Energy Co. (NYSE:DVN) by 13.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,812 shares of the energy company’s stock after selling 1,784 shares during the quarter. Harbour Investments Inc.’s holdings in Devon Energy were worth $560,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of DVN. Triad Wealth Partners LLC acquired a new stake in Devon Energy in the second quarter valued at about $27,000. Manchester Capital Management LLC bought a new position in Devon Energy in the fourth quarter valued at about $28,000. Tradewinds Capital Management LLC bought a new position in Devon Energy in the first quarter valued at about $30,000. Jones Financial Companies Lllp raised its position in Devon Energy by 104.8% in the fourth quarter. Jones Financial Companies Lllp now owns 731 shares of the energy company’s stock valued at $33,000 after purchasing an additional 374 shares during the last quarter. Finally, 1620 Investment Advisors Inc. bought a new position in Devon Energy in the second quarter valued at about $34,000. 69.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DVN. BMO Capital Markets upgraded Devon Energy to a “strong-buy” rating in a research report on Wednesday, July 3rd. Truist Financial lowered their price objective on Devon Energy from $67.00 to $64.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Wolfe Research began coverage on Devon Energy in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Scotiabank lowered their price objective on Devon Energy from $67.00 to $60.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Finally, StockNews.com raised Devon Energy from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Five equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.75.

Devon Energy Stock Down 0.1 %

Shares of NYSE:DVN opened at $44.59 on Thursday. The stock has a market cap of $28.18 billion, a price-to-earnings ratio of 8.51, a PEG ratio of 0.75 and a beta of 2.07. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 0.46. Devon Energy Co. has a 12-month low of $40.47 and a 12-month high of $55.09. The business’s 50 day moving average is $45.89 and its 200 day moving average is $47.54.

Devon Energy (NYSE:DVN) last announced its earnings results on Tuesday, August 6th. The energy company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.15. The company had revenue of $3.92 billion for the quarter, compared to analysts’ expectations of $3.90 billion. Devon Energy had a return on equity of 29.02% and a net margin of 22.27%. Devon Energy’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.18 earnings per share. On average, sell-side analysts forecast that Devon Energy Co. will post 5.4 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.88 dividend on an annualized basis and a yield of 1.97%. Devon Energy’s dividend payout ratio (DPR) is currently 16.79%.

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.