Sage Capital Advisors llc Has $235,000 Stock Holdings in Devon Energy Co. (NYSE:DVN)

Sage Capital Advisors llc increased its position in shares of Devon Energy Co. (NYSE:DVN) by 9.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 5,999 shares of the energy company’s stock after purchasing an additional 495 shares during the quarter. Sage Capital Advisors llc’s holdings in Devon Energy were worth $235,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in DVN. Triad Wealth Partners LLC acquired a new position in Devon Energy in the second quarter valued at about $27,000. Tradewinds Capital Management LLC acquired a new position in Devon Energy in the first quarter valued at about $30,000. 1620 Investment Advisors Inc. acquired a new position in Devon Energy in the second quarter valued at about $34,000. PSI Advisors LLC lifted its stake in Devon Energy by 66.7% in the second quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock valued at $36,000 after buying an additional 300 shares during the period. Finally, LRI Investments LLC acquired a new position in Devon Energy in the first quarter valued at about $39,000. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Stock Performance

NYSE:DVN opened at $41.67 on Wednesday. The stock has a market cap of $26.34 billion, a P/E ratio of 7.95, a PEG ratio of 1.22 and a beta of 2.02. The stock has a 50 day simple moving average of $42.51 and a 200 day simple moving average of $46.72. The company has a current ratio of 1.11, a quick ratio of 1.03 and a debt-to-equity ratio of 0.45. Devon Energy Co. has a 1-year low of $37.76 and a 1-year high of $55.09.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, August 6th. The energy company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.15. The business had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $3.90 billion. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period last year, the firm posted $1.18 EPS. Research analysts anticipate that Devon Energy Co. will post 5.11 earnings per share for the current year.

Devon Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.88 annualized dividend and a yield of 2.11%. Devon Energy’s payout ratio is currently 16.79%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Susquehanna cut their target price on Devon Energy from $65.00 to $63.00 and set a “positive” rating on the stock in a research note on Wednesday, September 4th. Royal Bank of Canada restated a “sector perform” rating and issued a $57.00 price target on shares of Devon Energy in a report on Tuesday, September 3rd. Bank of America restated a “buy” rating and issued a $64.00 price target on shares of Devon Energy in a report on Friday, June 14th. StockNews.com downgraded Devon Energy from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Finally, Truist Financial lowered their price target on Devon Energy from $60.00 to $49.00 and set a “buy” rating for the company in a report on Monday, September 30th. Eight investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $53.79.

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.