Devon Energy Co. (NYSE:DVN) Shares Acquired by Invera Wealth Advisors LLC

Invera Wealth Advisors LLC raised its holdings in shares of Devon Energy Co. (NYSE:DVN) by 103.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,603 shares of the energy company’s stock after acquiring an additional 5,400 shares during the quarter. Invera Wealth Advisors LLC’s holdings in Devon Energy were worth $545,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Avior Wealth Management LLC grew its position in shares of Devon Energy by 4.9% in the third quarter. Avior Wealth Management LLC now owns 4,406 shares of the energy company’s stock valued at $210,000 after purchasing an additional 207 shares during the period. Czech National Bank grew its holdings in Devon Energy by 47.4% in the 3rd quarter. Czech National Bank now owns 111,982 shares of the energy company’s stock valued at $5,342,000 after buying an additional 36,002 shares during the period. Asset Management One Co. Ltd. lifted its holdings in shares of Devon Energy by 0.6% during the 3rd quarter. Asset Management One Co. Ltd. now owns 254,152 shares of the energy company’s stock worth $12,123,000 after acquiring an additional 1,617 shares during the period. Patriot Financial Group Insurance Agency LLC lifted its holdings in shares of Devon Energy by 105.3% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 9,518 shares of the energy company’s stock worth $454,000 after acquiring an additional 4,882 shares during the period. Finally, Oak Harbor Wealth Partners LLC boosted its position in shares of Devon Energy by 9.4% in the third quarter. Oak Harbor Wealth Partners LLC now owns 29,561 shares of the energy company’s stock worth $1,410,000 after acquiring an additional 2,545 shares during the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Stock Up 0.7 %

Shares of Devon Energy stock traded up $0.37 during trading hours on Monday, hitting $53.08. 4,808,540 shares of the company’s stock traded hands, compared to its average volume of 7,819,729. Devon Energy Co. has a twelve month low of $40.47 and a twelve month high of $55.09. The company has a market cap of $33.71 billion, a PE ratio of 9.10 and a beta of 2.19. The company has a quick ratio of 0.99, a current ratio of 1.07 and a debt-to-equity ratio of 0.46. The stock has a 50 day simple moving average of $49.07 and a 200-day simple moving average of $46.22.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, February 27th. The energy company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.02. Devon Energy had a return on equity of 31.72% and a net margin of 24.56%. The firm had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $3.88 billion. During the same quarter in the prior year, the business posted $1.66 earnings per share. Devon Energy’s revenue for the quarter was down 3.6% on a year-over-year basis. Equities research analysts anticipate that Devon Energy Co. will post 5.28 earnings per share for the current fiscal year.

Devon Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a $0.44 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.32%. Devon Energy’s dividend payout ratio (DPR) is presently 15.09%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on DVN shares. Raymond James cut their price target on shares of Devon Energy from $53.00 to $52.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 24th. Stifel Nicolaus lifted their target price on Devon Energy from $65.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd. Citigroup upped their price target on Devon Energy from $55.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. Morgan Stanley raised their price objective on Devon Energy from $49.00 to $50.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Finally, Piper Sandler boosted their target price on Devon Energy from $59.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $58.33.

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.