Natixis Advisors LLC Has $15.87 Million Stake in Devon Energy Co. (NYSE:DVN)

Natixis Advisors LLC grew its stake in Devon Energy Co. (NYSE:DVN - Free Report) by 46.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 334,882 shares of the energy company's stock after buying an additional 105,644 shares during the quarter. Natixis Advisors LLC owned 0.05% of Devon Energy worth $15,873,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Creekmur Asset Management LLC bought a new stake in shares of Devon Energy in the fourth quarter worth $791,000. Wahed Invest LLC lifted its position in shares of Devon Energy by 6.3% in the fourth quarter. Wahed Invest LLC now owns 10,944 shares of the energy company's stock worth $496,000 after purchasing an additional 648 shares in the last quarter. Tradewinds Capital Management LLC bought a new stake in shares of Devon Energy in the first quarter worth $30,000. MCF Advisors LLC lifted its position in shares of Devon Energy by 5.6% in the first quarter. MCF Advisors LLC now owns 4,023 shares of the energy company's stock worth $202,000 after purchasing an additional 215 shares in the last quarter. Finally, Principal Securities Inc. bought a new stake in shares of Devon Energy in the fourth quarter worth $702,000. Institutional investors own 69.72% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on DVN shares. StockNews.com lowered shares of Devon Energy from a "buy" rating to a "hold" rating in a research report on Monday. Bank of America reaffirmed a "buy" rating and set a $64.00 price target on shares of Devon Energy in a research report on Friday, June 14th. Piper Sandler dropped their price target on shares of Devon Energy from $65.00 to $57.00 and set an "overweight" rating on the stock in a research report on Thursday, August 15th. Wolfe Research initiated coverage on shares of Devon Energy in a research report on Thursday, July 18th. They set a "peer perform" rating on the stock. Finally, Sanford C. Bernstein dropped their price target on shares of Devon Energy from $48.00 to $43.00 and set a "market perform" rating on the stock in a research report on Wednesday, July 17th. Six equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $58.63.

Devon Energy Stock Performance

Shares of DVN stock traded down $0.16 on Thursday, hitting $42.08. The company's stock had a trading volume of 5,319,231 shares, compared to its average volume of 7,072,232. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.03 and a current ratio of 1.11. The stock's 50 day moving average is $45.52 and its 200-day moving average is $47.55. Devon Energy Co. has a fifty-two week low of $40.47 and a fifty-two week high of $55.09. The company has a market capitalization of $26.59 billion, a PE ratio of 8.03, a PEG ratio of 1.26 and a beta of 2.03.

Devon Energy (NYSE:DVN - Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The energy company reported $1.41 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 for the quarter, compared to the consensus estimate of $3.90 billion. During the same period in the prior year, the company posted $1.18 earnings per share. Devon Energy's revenue was up 13.4% compared to the same quarter last year. Equities research analysts expect that Devon Energy Co. will post 5.37 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.88 annualized dividend and a dividend yield of 2.09%. Devon Energy's dividend payout ratio (DPR) is presently 16.79%.

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.