First National Trust Co Has $408,000 Stake in Devon Energy Co. (NYSE:DVN)

First National Trust Co lifted its position in shares of Devon Energy Co. (NYSE:DVN) by 20.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,615 shares of the energy company’s stock after purchasing an additional 1,488 shares during the quarter. First National Trust Co’s holdings in Devon Energy were worth $408,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

DVN has been the subject of several recent research reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $57.00 price target on shares of Devon Energy in a report on Tuesday. Morgan Stanley upped their price target on Devon Energy from $52.00 to $54.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. Wells Fargo & Company decreased their price target on Devon Energy from $57.00 to $55.00 and set an “overweight” rating for the company in a report on Wednesday, August 14th. Sanford C. Bernstein decreased their price target on Devon Energy from $48.00 to $43.00 and set a “market perform” rating for the company in a report on Wednesday, July 17th. Finally, Truist Financial decreased their price target on Devon Energy from $67.00 to $64.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Six investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.63.

Devon Energy Stock Down 0.4 %

Shares of NYSE DVN opened at $42.08 on Friday. Devon Energy Co. has a one year low of $40.47 and a one year high of $55.09. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.11 and a quick ratio of 1.03. The business’s fifty day moving average price is $45.52 and its 200-day moving average price is $47.55. The stock has a market capitalization of $26.59 billion, a PE ratio of 8.03, a P/E/G ratio of 1.26 and a beta of 2.03.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, August 6th. The energy company reported $1.41 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 firm had revenue of $3.92 billion for the quarter, compared to analysts’ expectations of $3.90 billion. During the same quarter in the prior year, the firm earned $1.18 EPS. The business’s revenue for the quarter was up 13.4% compared to the same quarter last year. On average, equities research analysts anticipate that Devon Energy Co. will post 5.37 EPS for the current year.

Devon Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be given a dividend of $0.22 per share. The ex-dividend date is Friday, September 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.09%. Devon Energy’s dividend payout ratio is presently 16.79%.

Devon Energy 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.