Toronto Dominion Bank Decreases Stock Holdings in Devon Energy Co. (NYSE:DVN)

Toronto Dominion Bank trimmed its stake in Devon Energy Co. (NYSE:DVN - Free Report) by 14.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 311,440 shares of the energy company's stock after selling 53,811 shares during the quarter. Toronto Dominion Bank's holdings in Devon Energy were worth $14,762,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of DVN. Vanguard Group Inc. raised its stake in Devon Energy by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 76,457,056 shares of the energy company's stock valued at $3,836,615,000 after acquiring an additional 2,559,039 shares during the period. Pacer Advisors Inc. raised its position in shares of Devon Energy by 16.8% in the second quarter. Pacer Advisors Inc. now owns 9,913,516 shares of the energy company's stock valued at $469,901,000 after purchasing an additional 1,428,776 shares during the period. Los Angeles Capital Management LLC lifted its stake in shares of Devon Energy by 7,165.6% during the 2nd quarter. Los Angeles Capital Management LLC now owns 1,376,253 shares of the energy company's stock valued at $65,234,000 after buying an additional 1,357,311 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Devon Energy by 16.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,793,217 shares of the energy company's stock worth $416,779,000 after buying an additional 1,255,543 shares during the period. Finally, National Bank of Canada FI grew its stake in Devon Energy by 447.6% in the 2nd quarter. National Bank of Canada FI now owns 1,179,538 shares of the energy company's stock valued at $56,299,000 after buying an additional 964,147 shares in the last quarter. 69.72% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on DVN. Morgan Stanley dropped their target price on Devon Energy from $55.00 to $51.00 and set an "overweight" rating on the stock in a research report on Monday, September 16th. Piper Sandler dropped their price objective on Devon Energy from $65.00 to $57.00 and set an "overweight" rating on the stock in a report on Thursday, August 15th. Truist Financial reduced their target price on Devon Energy from $67.00 to $64.00 and set a "buy" rating for the company in a report on Tuesday, July 9th. UBS Group lowered their price target on shares of Devon Energy from $53.00 to $47.00 and set a "neutral" rating on the stock in a report on Wednesday, September 18th. Finally, Susquehanna reduced their price objective on shares of Devon Energy from $65.00 to $63.00 and set a "positive" rating for the company in a research note on Wednesday, September 4th. Six equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Devon Energy has a consensus rating of "Moderate Buy" and a consensus price target of $57.00.

Devon Energy Stock Up 2.9 %

Devon Energy stock traded up $1.09 during mid-day trading on Friday, reaching $38.96. The stock had a trading volume of 8,631,655 shares, compared to its average volume of 7,198,965. The company has a market capitalization of $24.62 billion, a price-to-earnings ratio of 7.44, a PEG ratio of 1.22 and a beta of 2.03. 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 one year low of $37.76 and a one year high of $55.09. The company has a 50-day moving average price of $43.21 and a two-hundred day moving average price of $47.07.

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, topping 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 firm had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $3.90 billion. During the same quarter in the prior year, the firm posted $1.18 earnings per share. The business's revenue was up 13.4% on a year-over-year basis. On average, analysts expect that Devon Energy Co. will post 5.11 EPS for the current fiscal year.

Devon Energy Dividend Announcement

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