Devon Energy Co. (NYSE:DVN) Shares Bought by D.A. Davidson & CO.

D.A. Davidson & CO. raised its holdings in Devon Energy Co. (NYSE:DVN - Free Report) by 13.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 398,934 shares of the energy company's stock after purchasing an additional 48,619 shares during the quarter. D.A. Davidson & CO. owned 0.06% of Devon Energy worth $18,909,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in shares of Devon Energy by 3.5% in the first quarter. Vanguard Group Inc. now owns 76,457,056 shares of the energy company's stock worth $3,836,615,000 after acquiring an additional 2,559,039 shares during the period. Raymond James & Associates boosted its position in Devon Energy by 1.5% during the second quarter. Raymond James & Associates now owns 9,183,778 shares of the energy company's stock worth $435,311,000 after purchasing an additional 138,919 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Devon Energy by 26.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,077,042 shares of the energy company's stock worth $320,609,000 after buying an additional 1,488,374 shares during the period. Raymond James Financial Services Advisors Inc. raised its stake in shares of Devon Energy by 3.8% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 4,699,410 shares of the energy company's stock worth $222,752,000 after buying an additional 169,923 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of Devon Energy by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,680,448 shares of the energy company's stock valued at $221,853,000 after buying an additional 18,443 shares in the last quarter. 69.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DVN has been the topic of several recent analyst reports. Piper Sandler decreased their price objective on shares of Devon Energy from $65.00 to $57.00 and set an "overweight" rating on the stock in a report on Thursday, August 15th. Mizuho boosted 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. Bank of America reaffirmed a "buy" rating and issued a $64.00 price target on shares of Devon Energy in a research note on Friday, June 14th. BMO Capital Markets raised Devon Energy to a "strong-buy" rating in a research note on Wednesday, July 3rd. Finally, Truist Financial dropped their target price on shares of Devon Energy from $67.00 to $64.00 and set a "buy" rating for the company in a report on Tuesday, July 9th. Five analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $58.75.

Devon Energy Stock Down 0.5 %

Shares of NYSE DVN traded down $0.22 during midday trading on Friday, hitting $44.78. 5,832,476 shares of the company's stock were exchanged, compared to its average volume of 6,492,747. The firm's fifty day simple moving average is $45.85 and its 200-day simple moving average is $47.58. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.11 and a quick ratio of 1.03. The company has a market cap of $28.04 billion, a PE ratio of 8.55, a P/E/G ratio of 1.26 and a beta of 2.07. Devon Energy Co. has a twelve month low of $40.47 and a twelve month high of $55.09.

Devon Energy (NYSE:DVN - Get Free Report) last issued its earnings results on Tuesday, August 6th. The energy company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.15. Devon Energy had a net margin of 22.60% and a return on equity of 29.14%. The business had revenue of $3.92 billion during the quarter, compared to analysts' expectations of $3.90 billion. During the same quarter in the prior year, the business posted $1.18 EPS. The company's revenue for the quarter was up 13.4% on a year-over-year basis. Research analysts predict that Devon Energy Co. will post 5.37 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Friday, September 13th. Devon Energy's payout ratio is currently 16.79%.

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.