Keene & Associates Inc. Boosts Holdings in Devon Energy Co. (NYSE:DVN)

Keene & Associates Inc. increased its position in shares of Devon Energy Co. (NYSE:DVN) by 1.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 73,264 shares of the energy company’s stock after buying an additional 1,163 shares during the quarter. Devon Energy comprises approximately 2.2% of Keene & Associates Inc.’s portfolio, making the stock its 26th largest position. Keene & Associates Inc.’s holdings in Devon Energy were worth $2,866,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Great Lakes Retirement Inc. lifted its position in Devon Energy by 3.6% in the third quarter. Great Lakes Retirement Inc. now owns 148,674 shares of the energy company’s stock valued at $5,816,000 after buying an additional 5,104 shares during the last quarter. Brighton Jones LLC raised its stake in shares of Devon Energy by 0.7% in the 3rd quarter. Brighton Jones LLC now owns 42,510 shares of the energy company’s stock valued at $1,663,000 after acquiring an additional 310 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of Devon Energy by 4,125.7% in the 3rd quarter. International Assets Investment Management LLC now owns 2,280,961 shares of the energy company’s stock worth $89,231,000 after acquiring an additional 2,226,983 shares during the last quarter. Courier Capital LLC boosted its position in shares of Devon Energy by 6.6% during the 3rd quarter. Courier Capital LLC now owns 17,305 shares of the energy company’s stock worth $677,000 after purchasing an additional 1,079 shares during the period. Finally, Lake Street Private Wealth LLC increased its holdings in Devon Energy by 12.6% in the 3rd quarter. Lake Street Private Wealth LLC now owns 20,248 shares of the energy company’s stock valued at $792,000 after purchasing an additional 2,268 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Devon Energy Stock Performance

Shares of DVN opened at $39.51 on Thursday. The company has a market capitalization of $24.97 billion, a price-to-earnings ratio of 7.54, a price-to-earnings-growth ratio of 1.27 and a beta of 2.02. Devon Energy Co. has a 52-week low of $37.76 and a 52-week high of $55.09. The company has a quick ratio of 1.03, a current ratio of 1.11 and a debt-to-equity ratio of 0.45. The stock has a 50 day moving average price of $41.86 and a 200 day moving average price of $46.01.

Devon Energy (NYSE:DVN) last issued its earnings results on Tuesday, August 6th. The energy company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.15. Devon Energy had a net margin of 22.60% and a return on equity of 29.14%. The business had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $3.90 billion. During the same quarter in the prior year, the business posted $1.18 EPS. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. Research analysts predict that Devon Energy Co. will post 5.01 EPS for the current fiscal year.

Devon Energy Announces Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend was Friday, September 13th. Devon Energy’s payout ratio is 16.79%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on DVN shares. Royal Bank of Canada restated a “sector perform” rating and set a $57.00 price target on shares of Devon Energy in a research report on Tuesday, September 3rd. Wolfe Research began coverage on Devon Energy in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Evercore ISI cut 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. Jefferies Financial Group assumed coverage on shares of Devon Energy in a research note on Thursday, October 3rd. They issued a “hold” rating and a $45.00 price objective for the company. Finally, Sanford C. Bernstein dropped their price objective on shares of Devon Energy from $48.00 to $43.00 and set a “market perform” rating for the company in a report on Wednesday, July 17th. Nine investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $52.53.

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.