Crossmark Global Holdings Inc. Acquires 21,584 Shares of Devon Energy Co. (NYSE:DVN)

Crossmark Global Holdings Inc. boosted its position in Devon Energy Co. (NYSE:DVN - Free Report) by 91.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 45,196 shares of the energy company's stock after purchasing an additional 21,584 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in Devon Energy were worth $1,768,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of DVN. Triad Wealth Partners LLC purchased a new position in Devon Energy during the second quarter worth about $27,000. 1620 Investment Advisors Inc. acquired a new stake in Devon Energy in the 2nd quarter valued at about $34,000. PSI Advisors LLC boosted its holdings in shares of Devon Energy by 66.7% during the second quarter. PSI Advisors LLC now owns 750 shares of the energy company's stock worth $36,000 after purchasing an additional 300 shares during the last quarter. LRI Investments LLC acquired a new stake in shares of Devon Energy in the first quarter worth $39,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of Devon Energy in the 3rd quarter valued at approximately $35,000. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Devon Energy Stock Up 2.0 %

DVN traded up $0.76 during trading on Wednesday, reaching $39.10. 8,313,337 shares of the stock were exchanged, compared to its average volume of 7,445,225. The stock's 50 day moving average price is $40.27 and its two-hundred day moving average price is $44.59. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11. The stock has a market cap of $25.68 billion, a P/E ratio of 7.19, a price-to-earnings-growth ratio of 1.19 and a beta of 2.03. Devon Energy Co. has a twelve month low of $37.76 and a twelve month high of $55.09.

Devon Energy (NYSE:DVN - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, beating analysts' consensus estimates of $1.09 by $0.01. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The company 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 firm posted $1.65 EPS. The company's quarterly revenue was up 4.9% on a year-over-year basis. Equities analysts expect that Devon Energy Co. will post 4.86 EPS for the current year.

Devon Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be given a $0.22 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.25%. Devon Energy's payout ratio is 16.33%.

Analyst Upgrades and Downgrades

DVN has been the subject of several research reports. StockNews.com cut Devon Energy from a "hold" rating to a "sell" rating in a research note on Thursday, November 7th. Morgan Stanley reduced 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 note on Monday, September 16th. 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. Benchmark restated a "hold" rating on shares of Devon Energy in a research note on Tuesday, October 15th. Finally, Piper Sandler cut their price target on Devon Energy from $57.00 to $56.00 and set an "overweight" rating on the stock in a report on Tuesday, October 15th. One analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $51.80.

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.