Devon Energy Co. (NYSE:DVN) Shares Purchased by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd boosted its holdings in shares of Devon Energy Co. (NYSE:DVN) by 55.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 156,490 shares of the energy company’s stock after purchasing an additional 55,704 shares during the period. Mediolanum International Funds Ltd’s holdings in Devon Energy were worth $6,087,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in DVN. Triad Wealth Partners LLC purchased a new position in shares of Devon Energy during the 2nd quarter valued at about $27,000. Tradewinds Capital Management LLC acquired a new stake in Devon Energy during the first quarter worth about $30,000. 1620 Investment Advisors Inc. purchased a new position in Devon Energy during the second quarter valued at approximately $34,000. PSI Advisors LLC lifted its holdings 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 acquiring an additional 300 shares during the period. Finally, LRI Investments LLC purchased a new stake in Devon Energy in the 1st quarter worth approximately $39,000. 69.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on DVN. Wolfe Research began coverage on shares of Devon Energy in a report on Thursday, July 18th. They set a “peer perform” rating for the company. BMO Capital Markets dropped their target price on Devon Energy from $52.00 to $48.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Morgan Stanley reduced their price target on Devon Energy from $55.00 to $51.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Royal Bank of Canada reissued a “sector perform” rating and issued a $57.00 price objective on shares of Devon Energy in a report on Tuesday, September 3rd. Finally, Mizuho decreased their target price on Devon Energy from $53.00 to $51.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 9th. Nine equities 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, Devon Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.53.

Devon Energy Price Performance

DVN stock opened at $39.19 on Friday. Devon Energy Co. has a 1 year low of $37.76 and a 1 year high of $55.09. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.11 and a quick ratio of 1.03. The firm has a market capitalization of $24.77 billion, a PE ratio of 7.48, a price-to-earnings-growth ratio of 1.27 and a beta of 2.02. The business has a 50 day simple moving average of $41.62 and a 200-day simple moving average of $45.86.

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 return on equity of 29.14% and a net margin of 22.60%. The company had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $3.90 billion. During the same period in the prior year, the business earned $1.18 EPS. The firm’s quarterly revenue was up 13.4% on a year-over-year basis. Equities research analysts anticipate that Devon Energy Co. will post 5.01 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date was Friday, September 13th. Devon Energy’s dividend payout ratio (DPR) is presently 16.79%.

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.