Devon Energy Co. (NYSE:DVN) Shares Bought by National Pension Service

National Pension Service boosted its stake in Devon Energy Co. (NYSE:DVN - Free Report) by 34.7% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,185,265 shares of the energy company's stock after buying an additional 305,486 shares during the quarter. National Pension Service owned approximately 0.19% of Devon Energy worth $46,368,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of DVN. Triad Wealth Partners LLC acquired a new stake in Devon Energy during the second quarter worth approximately $27,000. 1620 Investment Advisors Inc. acquired a new position in Devon Energy during the second quarter worth approximately $34,000. PSI Advisors LLC raised its stake in 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 period. LRI Investments LLC acquired a new position in shares of Devon Energy in the 1st quarter valued at $39,000. Finally, Manchester Capital Management LLC grew its stake in shares of Devon Energy by 40.9% during the 1st quarter. Manchester Capital Management LLC now owns 861 shares of the energy company's stock valued at $43,000 after buying an additional 250 shares during the period. Hedge funds and other institutional investors own 69.72% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on DVN. StockNews.com cut Devon Energy from a "buy" rating to a "hold" rating in a report on Monday, September 2nd. Piper Sandler dropped their price target on shares of Devon Energy from $57.00 to $56.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 15th. Morgan Stanley decreased their price objective on shares of Devon Energy from $55.00 to $51.00 and set an "overweight" rating for the company in a research report on Monday, September 16th. Wells Fargo & Company cut their price target on Devon Energy from $50.00 to $49.00 and set an "overweight" rating on the stock in a research note on Thursday. Finally, Susquehanna lowered their price objective on Devon Energy from $63.00 to $62.00 and set a "positive" rating for the company in a research note on Friday, October 18th. Eleven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $51.80.

Devon Energy Stock Performance

Shares of NYSE DVN traded down $1.13 during mid-day trading on Thursday, hitting $38.89. The company had a trading volume of 12,562,063 shares, compared to its average volume of 7,428,410. The stock has a market cap of $24.35 billion, a price-to-earnings ratio of 7.12, a PEG ratio of 1.20 and a beta of 2.03. The firm's 50 day simple moving average is $40.72 and its two-hundred day simple moving average is $45.03. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.11 and a quick ratio of 1.03. Devon Energy Co. has a 12 month low of $37.76 and a 12 month high of $55.09.

Devon Energy (NYSE:DVN - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.01. Devon Energy had a net margin of 22.60% and a return on equity of 29.14%. The company had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter in the previous year, the company posted $1.65 earnings per share. The company's revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, equities research analysts forecast that Devon Energy Co. will post 4.93 earnings per share for the current year.

Devon Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.88 annualized dividend and a dividend yield of 2.26%. Devon Energy's payout ratio is currently 15.97%.

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.