Devon Energy Co. (NYSE:DVN) Stock Holdings Lifted by Coldstream Capital Management Inc.

Coldstream Capital Management Inc. lifted its position in Devon Energy Co. (NYSE:DVN) by 6.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 18,978 shares of the energy company’s stock after acquiring an additional 1,162 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Devon Energy were worth $742,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DVN. Triad Wealth Partners LLC purchased a new stake in shares of Devon Energy in the second quarter valued at $27,000. 1620 Investment Advisors Inc. purchased a new stake in Devon Energy in the 2nd quarter worth about $34,000. Capital Performance Advisors LLP acquired a new stake in Devon Energy during the 3rd quarter worth about $35,000. PSI Advisors LLC grew its stake in Devon Energy by 66.7% during the 2nd quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock valued at $36,000 after acquiring an additional 300 shares in the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new position in shares of Devon Energy in the 3rd quarter valued at about $39,000. Institutional investors and hedge funds own 69.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on DVN. UBS Group decreased their price target on shares of Devon Energy from $53.00 to $47.00 and set a “neutral” rating for the company in a report on Wednesday, September 18th. 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 report on Monday, September 30th. Wells Fargo & Company cut their price objective on Devon Energy from $50.00 to $49.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. TD Cowen lowered their target price on Devon Energy from $54.00 to $46.00 and set a “hold” rating on the stock in a research note on Tuesday, November 5th. Finally, Truist Financial downgraded Devon Energy from a “buy” rating to a “hold” rating and cut their price target for the stock from $49.00 to $43.00 in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Devon Energy has an average rating of “Hold” and a consensus target price of $50.75.

Devon Energy Stock Down 0.1 %

NYSE DVN opened at $33.86 on Friday. Devon Energy Co. has a twelve month low of $33.39 and a twelve month high of $55.09. The stock has a market cap of $22.24 billion, a PE ratio of 6.28, a PEG ratio of 1.10 and a beta of 1.99. The firm has a 50-day simple moving average of $38.75 and a 200 day simple moving average of $42.62. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.01. The company had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.72 billion. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. Devon Energy’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.65 EPS. On average, research analysts forecast that Devon Energy Co. will post 4.79 EPS for the current year.

Devon Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend is Friday, December 13th. Devon Energy’s dividend payout ratio is 16.33%.

About Devon Energy

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.