Nations Financial Group Inc. IA ADV Acquires Shares of 15,122 Devon Energy Co. (NYSE:DVN)

Nations Financial Group Inc. IA ADV purchased a new stake in Devon Energy Co. (NYSE:DVN - Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 15,122 shares of the energy company's stock, valued at approximately $592,000.

Other institutional investors have also recently made changes to their positions in the company. Sei Investments Co. lifted its stake in Devon Energy by 3.6% in the first quarter. Sei Investments Co. now owns 228,499 shares of the energy company's stock worth $11,462,000 after purchasing an additional 7,931 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of Devon Energy by 28.3% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 22,975 shares of the energy company's stock worth $1,153,000 after acquiring an additional 5,074 shares during the period. State Board of Administration of Florida Retirement System increased its position in shares of Devon Energy by 5.7% during the first quarter. State Board of Administration of Florida Retirement System now owns 796,732 shares of the energy company's stock worth $40,323,000 after acquiring an additional 43,263 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Devon Energy by 36.5% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 893,015 shares of the energy company's stock worth $44,811,000 after acquiring an additional 238,858 shares during the period. Finally, Kingsview Wealth Management LLC increased its position in shares of Devon Energy by 55.4% during the first quarter. Kingsview Wealth Management LLC now owns 39,149 shares of the energy company's stock worth $1,965,000 after acquiring an additional 13,961 shares during the period. Institutional investors own 69.72% of the company's stock.

Wall Street Analysts Forecast Growth

DVN has been the topic of a number of research reports. Truist Financial lowered shares of Devon Energy from a "buy" rating to a "hold" rating and reduced their target price for the stock from $49.00 to $43.00 in a research report on Thursday, November 7th. JPMorgan Chase & Co. cut their price target on shares of Devon Energy from $64.00 to $51.00 and set an "overweight" rating on the stock in a report on Thursday, September 12th. Mizuho lowered their price objective on shares of Devon Energy from $53.00 to $51.00 and set an "outperform" rating for the company in a research note on Wednesday, October 9th. Benchmark restated a "hold" rating on shares of Devon Energy in a research report on Tuesday, October 15th. Finally, Scotiabank decreased their price objective on shares of Devon Energy from $60.00 to $48.00 and set a "sector outperform" rating for the company in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, Devon Energy presently has a consensus rating of "Hold" and a consensus target price of $51.80.

Devon Energy Trading Up 0.6 %

Shares of DVN stock traded up $0.25 during trading hours on Thursday, hitting $39.36. The company had a trading volume of 5,234,968 shares, compared to its average volume of 7,435,314. The company's fifty day moving average is $40.15 and its 200 day moving average is $44.52. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01. Devon Energy Co. has a fifty-two week low of $37.76 and a fifty-two week high of $55.09. The stock has a market capitalization of $25.86 billion, a PE ratio of 7.30, a price-to-earnings-growth ratio of 1.19 and a beta of 2.03.

Devon Energy (NYSE:DVN - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, topping the consensus estimate of $1.09 by $0.01. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The firm had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same period in the prior year, the business posted $1.65 EPS. The business's revenue for the quarter was up 4.9% compared to the same quarter last year. Research analysts expect that Devon Energy Co. will post 4.86 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.22 per share. The ex-dividend date is Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.24%. Devon Energy's dividend payout ratio (DPR) is presently 16.33%.

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.