Swiss National Bank Has $72.87 Million Holdings in Devon Energy Co. (NYSE:DVN)

Swiss National Bank lessened its stake in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 0.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,862,739 shares of the energy company's stock after selling 17,400 shares during the period. Swiss National Bank owned approximately 0.30% of Devon Energy worth $72,870,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Triad Wealth Partners LLC purchased a new stake in Devon Energy during the second quarter worth $27,000. 1620 Investment Advisors Inc. purchased a new stake in Devon Energy during the 2nd quarter valued at about $34,000. Capital Performance Advisors LLP purchased a new stake in shares of Devon Energy in the 3rd quarter valued at $35,000. PSI Advisors LLC raised its position in Devon Energy by 66.7% during 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 in the last quarter. Finally, LRI Investments LLC acquired a new position in shares of Devon Energy in the 1st quarter valued at $39,000. Institutional investors own 69.72% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on DVN shares. Truist Financial lowered Devon Energy from a "buy" rating to a "hold" rating and cut their price target for the company from $49.00 to $43.00 in a research note on Thursday, November 7th. Wells Fargo & Company cut their target price on Devon Energy from $50.00 to $49.00 and set an "overweight" rating for the company in a research note on Thursday, November 7th. Piper Sandler boosted their target price on shares of Devon Energy from $56.00 to $57.00 and gave the company an "overweight" rating in a report on Monday. Mizuho dropped their price objective on Devon Energy from $53.00 to $51.00 and set an "outperform" rating for the company in a research note on Wednesday, October 9th. Finally, Morgan Stanley dropped their price target on shares of Devon Energy from $55.00 to $51.00 and set an "overweight" rating for the company in a research note on Monday, September 16th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $51.85.

Devon Energy Trading Up 1.0 %

Shares of DVN stock traded up $0.39 during mid-day trading on Wednesday, hitting $38.30. 5,753,855 shares of the company's stock were exchanged, compared to its average volume of 7,418,370. Devon Energy Co. has a fifty-two week low of $37.76 and a fifty-two week high of $55.09. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61. The stock has a 50-day simple moving average of $39.99 and a two-hundred day simple moving average of $44.15. The stock has a market cap of $25.16 billion, a price-to-earnings ratio of 7.08, a PEG ratio of 1.20 and a beta of 2.03.

Devon Energy (NYSE:DVN - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, beating 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 quarter last year, the firm posted $1.65 earnings per share. Devon Energy's revenue for the quarter was up 4.9% compared to the same quarter last year. Equities analysts expect that Devon Energy Co. will post 4.84 EPS 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. Investors of record on Friday, December 13th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.30%. The ex-dividend date is Friday, December 13th. Devon Energy's dividend payout ratio is presently 16.33%.

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.