Atria Wealth Solutions Inc. Has $3.89 Million Stock Holdings in Devon Energy Co. (NYSE:DVN)

Atria Wealth Solutions Inc. lessened its holdings in Devon Energy Co. (NYSE:DVN - Free Report) by 16.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 82,094 shares of the energy company's stock after selling 15,809 shares during the period. Atria Wealth Solutions Inc.'s holdings in Devon Energy were worth $3,891,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Creekmur Asset Management LLC acquired a new stake in shares of Devon Energy in the fourth quarter worth $791,000. Wahed Invest LLC boosted its position in Devon Energy by 6.3% during the fourth quarter. Wahed Invest LLC now owns 10,944 shares of the energy company's stock valued at $496,000 after purchasing an additional 648 shares during the last quarter. Tradewinds Capital Management LLC acquired a new stake in Devon Energy during the first quarter valued at $30,000. MCF Advisors LLC boosted its position in Devon Energy by 5.6% during the first quarter. MCF Advisors LLC now owns 4,023 shares of the energy company's stock valued at $202,000 after purchasing an additional 215 shares during the last quarter. Finally, Principal Securities Inc. acquired a new stake in shares of Devon Energy in the fourth quarter worth about $702,000. Institutional investors and hedge funds own 69.72% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on DVN. Wells Fargo & Company reduced their price target on Devon Energy from $57.00 to $55.00 and set an "overweight" rating for the company in a research report on Wednesday, August 14th. BMO Capital Markets raised Devon Energy to a "strong-buy" rating in a research report on Wednesday, July 3rd. Sanford C. Bernstein reduced their price target on Devon Energy from $48.00 to $43.00 and set a "market perform" rating for the company in a research report on Wednesday, July 17th. Mizuho lifted their price objective on Devon Energy from $57.00 to $61.00 and gave the stock a "buy" rating in a research note on Monday, May 13th. Finally, Wolfe Research initiated coverage on Devon Energy in a research note on Thursday, July 18th. They issued a "peer perform" rating on the stock. Five investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Devon Energy presently has an average rating of "Moderate Buy" and an average price target of $58.75.

Devon Energy Price Performance

Shares of DVN stock traded down $0.20 during trading hours on Wednesday, hitting $43.85. The company had a trading volume of 5,365,846 shares, compared to its average volume of 7,204,268. Devon Energy Co. has a 12 month low of $40.47 and a 12 month high of $55.09. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.97 and a current ratio of 1.04. The firm's fifty day moving average is $46.06 and its 200 day moving average is $47.45. The firm has a market capitalization of $27.71 billion, a price-to-earnings ratio of 8.37, a PEG ratio of 0.75 and a beta of 2.07.

Devon Energy (NYSE:DVN - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The energy company reported $1.41 earnings per share for the quarter, beating analysts' consensus estimates of $1.26 by $0.15. Devon Energy had a return on equity of 29.02% and a net margin of 22.27%. The firm had revenue of $3.92 billion for the quarter, compared to analysts' expectations of $3.90 billion. During the same period in the prior year, the business posted $1.18 earnings per share. The business's revenue was up 13.4% compared to the same quarter last year. On average, sell-side analysts predict that Devon Energy Co. will post 5.4 EPS for the current fiscal year.

Devon Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be given a $0.22 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.01%. Devon Energy's dividend payout ratio (DPR) is presently 16.79%.

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.

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