IFM Investors Pty Ltd Sells 2,077 Shares of Devon Energy Co. (NYSE:DVN)

IFM Investors Pty Ltd reduced its stake in shares of Devon Energy Co. (NYSE:DVN) by 1.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 147,657 shares of the energy company’s stock after selling 2,077 shares during the quarter. IFM Investors Pty Ltd’s holdings in Devon Energy were worth $5,776,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Devon Energy by 3.5% in 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 last quarter. Pacer Advisors Inc. boosted its stake in Devon Energy by 16.8% in the second quarter. Pacer Advisors Inc. now owns 9,913,516 shares of the energy company’s stock valued at $469,901,000 after acquiring an additional 1,428,776 shares during the last quarter. Raymond James & Associates boosted its stake in Devon Energy by 1.5% in the second quarter. Raymond James & Associates now owns 9,183,778 shares of the energy company’s stock valued at $435,311,000 after acquiring an additional 138,919 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Devon Energy by 16.7% in the second quarter. Dimensional Fund Advisors LP now owns 8,793,217 shares of the energy company’s stock valued at $416,779,000 after acquiring an additional 1,255,543 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in shares of Devon Energy by 15.9% during the second quarter. Thrivent Financial for Lutherans now owns 5,094,017 shares of the energy company’s stock worth $241,456,000 after purchasing an additional 699,743 shares in the last quarter. 69.72% of the stock is owned by institutional investors.

Devon Energy Stock Performance

Shares of DVN stock opened at $39.19 on Friday. The company has a market capitalization of $24.77 billion, a price-to-earnings ratio of 7.48, a PEG ratio of 1.27 and a beta of 2.02. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.03 and a current ratio of 1.11. The company has a 50-day simple moving average of $41.62 and a 200 day simple moving average of $45.86. Devon Energy Co. has a 52 week low of $37.76 and a 52 week high of $55.09.

Devon Energy (NYSE:DVN) last announced its earnings results on Tuesday, August 6th. The energy company reported $1.41 EPS 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 the consensus estimate of $3.90 billion. Devon Energy had a net margin of 22.60% and a return on equity of 29.14%. Devon Energy’s revenue was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.18 EPS. On average, sell-side analysts predict that Devon Energy Co. will post 5.01 earnings per share for the current year.

Devon Energy Announces Dividend

The business also recently announced 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. This represents a $0.88 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend was Friday, September 13th. Devon Energy’s payout ratio is 16.79%.

Analyst Ratings Changes

DVN has been the topic of a number of recent analyst reports. Truist Financial reduced their price target on shares of Devon Energy from $60.00 to $49.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Evercore ISI lowered their price target on shares of Devon Energy from $55.00 to $50.00 and set an “in-line” rating on the stock in a research note on Monday, September 30th. Sanford C. Bernstein lowered their price target on shares of Devon Energy from $48.00 to $43.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 17th. UBS Group lowered their price target on shares of Devon Energy from $53.00 to $47.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 18th. Finally, Wolfe Research assumed coverage on shares of Devon Energy in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Nine investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.53.

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.