Devon Energy Co. (NYSE:DVN) Stock Holdings Increased by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. raised its holdings in shares of Devon Energy Co. (NYSE:DVN) by 13.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 41,610 shares of the energy company’s stock after buying an additional 4,933 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Devon Energy were worth $1,972,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Triad Wealth Partners LLC acquired a new stake in shares of Devon Energy during the 2nd quarter valued at $27,000. Tradewinds Capital Management LLC acquired a new stake in shares of Devon Energy during the first quarter worth $30,000. Jones Financial Companies Lllp lifted its holdings 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 valued at $33,000 after purchasing an additional 374 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new position in shares of Devon Energy in the 2nd quarter valued at $34,000. Finally, PSI Advisors LLC increased its stake in Devon Energy by 66.7% in the 2nd quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock worth $36,000 after purchasing an additional 300 shares in the last quarter. 69.72% of the stock is currently owned by institutional investors.

Devon Energy Trading Up 1.5 %

Shares of NYSE:DVN opened at $42.41 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.03 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $26.80 billion, a PE ratio of 8.06, a P/E/G ratio of 1.22 and a beta of 2.02. Devon Energy Co. has a 1 year low of $37.76 and a 1 year high of $55.09. The firm has a fifty day moving average price of $42.74 and a 200 day moving average price of $46.87.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data 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 business had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.90 billion. During the same quarter in the prior year, the firm posted $1.18 EPS. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. Analysts expect that Devon Energy Co. will post 5.11 EPS for the current fiscal year.

Devon Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend was Friday, September 13th. Devon Energy’s dividend payout ratio (DPR) is 16.79%.

Wall Street Analyst Weigh In

DVN has been the subject of a number of analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $57.00 price objective on shares of Devon Energy in a research note on Tuesday, September 3rd. BMO Capital Markets reduced their price target on shares of Devon Energy from $52.00 to $48.00 and set an “outperform” rating for the company in a research report on Friday. UBS Group lowered their price objective on shares of Devon Energy from $53.00 to $47.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 18th. Susquehanna reduced their target price on Devon Energy from $65.00 to $63.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Finally, Truist Financial lowered their price target on Devon Energy from $60.00 to $49.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Eight research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.79.

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.