Devon Energy Co. (NYSE:DVN) Position Boosted by Trajan Wealth LLC

Trajan Wealth LLC grew its holdings in shares of Devon Energy Co. (NYSE:DVN) by 16.6% in the third quarter, according to its most recent filing with the SEC. The firm owned 5,839 shares of the energy company’s stock after acquiring an additional 831 shares during the quarter. Trajan Wealth LLC’s holdings in Devon Energy were worth $228,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Devon Energy by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 76,457,056 shares of the energy company’s stock valued at $3,836,615,000 after purchasing an additional 2,559,039 shares in the last quarter. International Assets Investment Management LLC lifted its stake in Devon Energy by 4,125.7% during the third quarter. International Assets Investment Management LLC now owns 2,280,961 shares of the energy company’s stock valued at $89,231,000 after buying an additional 2,226,983 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Devon Energy by 16.8% in the second quarter. Pacer Advisors Inc. now owns 9,913,516 shares of the energy company’s stock worth $469,901,000 after buying an additional 1,428,776 shares during the period. Los Angeles Capital Management LLC increased its position in shares of Devon Energy by 7,165.6% in the second quarter. Los Angeles Capital Management LLC now owns 1,376,253 shares of the energy company’s stock worth $65,234,000 after acquiring an additional 1,357,311 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Devon Energy by 16.7% during 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 period. 69.72% of the stock is owned by institutional investors and hedge funds.

Devon Energy Stock Up 0.5 %

Shares of NYSE:DVN opened at $38.34 on Thursday. 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 market capitalization of $24.01 billion, a PE ratio of 6.96, a P/E/G ratio of 1.22 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’s fifty day moving average is $41.26 and its 200-day moving average is $45.48.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, August 6th. The energy company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.15. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. The business had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $3.90 billion. During the same period in the previous year, the business posted $1.18 earnings per share. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. Equities research analysts predict that Devon Energy Co. will post 4.98 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

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 $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.30%. The ex-dividend date was Friday, September 13th. Devon Energy’s dividend payout ratio is 15.97%.

Analyst Ratings Changes

Several research firms have weighed in on DVN. Morgan Stanley lowered their price objective on shares of Devon Energy from $55.00 to $51.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Truist Financial cut their price target on shares of Devon Energy from $60.00 to $49.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Jefferies Financial Group began coverage on Devon Energy in a report on Thursday, October 3rd. They set a “hold” rating and a $45.00 price target on the stock. StockNews.com lowered shares of Devon Energy from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Finally, Barclays cut their price target on Devon Energy from $55.00 to $46.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. Nine equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.