Nisa Investment Advisors LLC lessened its stake in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 27.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 65,684 shares of the energy company's stock after selling 24,417 shares during the quarter. Nisa Investment Advisors LLC's holdings in Devon Energy were worth $2,570,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Triad Wealth Partners LLC bought a new stake in Devon Energy during the 2nd quarter valued at $27,000. 1620 Investment Advisors Inc. acquired a new stake in shares of Devon Energy in the 2nd quarter worth $34,000. PSI Advisors LLC boosted its position in shares of Devon Energy by 66.7% in the 2nd quarter. PSI Advisors LLC now owns 750 shares of the energy company's stock worth $36,000 after purchasing an additional 300 shares in the last quarter. LRI Investments LLC acquired a new stake in shares of Devon Energy in the 1st quarter worth $39,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of Devon Energy in the 3rd quarter worth $39,000. Institutional investors own 69.72% of the company's stock.
Devon Energy Price Performance
Shares of Devon Energy stock traded down $0.36 on Friday, hitting $38.32. The company's stock had a trading volume of 6,921,517 shares, compared to its average volume of 7,852,030. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.03 and a current ratio of 1.11. Devon Energy Co. has a 1 year low of $37.76 and a 1 year high of $55.09. The firm has a fifty day moving average price of $41.04 and a 200-day moving average price of $45.28. The company has a market capitalization of $24.00 billion, a price-to-earnings ratio of 6.95, a price-to-earnings-growth ratio of 1.19 and a beta of 2.03.
Devon Energy (NYSE:DVN - Get Free Report) last posted its quarterly earnings data 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 return on equity of 29.14% and a net margin of 22.60%. The company had revenue of $3.92 billion for the quarter, compared to analysts' expectations of $3.90 billion. During the same period in the previous year, the firm posted $1.18 EPS. Devon Energy's revenue was up 13.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Devon Energy Co. will post 4.93 earnings per share for the current fiscal year.
Devon Energy Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend was Friday, September 13th. Devon Energy's payout ratio is 15.97%.
Wall Street Analysts Forecast Growth
DVN has been the subject of a number of recent analyst reports. Mizuho lowered their price objective on Devon Energy from $53.00 to $51.00 and set an "outperform" rating for the company in a research report on Wednesday, October 9th. UBS Group lowered their price objective on Devon Energy from $53.00 to $47.00 and set a "neutral" rating for the company in a research report on Wednesday, September 18th. JPMorgan Chase & Co. reduced their target price on Devon Energy from $64.00 to $51.00 and set an "overweight" rating for the company in a research note on Thursday, September 12th. Sanford C. Bernstein reduced their target price on Devon Energy from $48.00 to $43.00 and set a "market perform" rating for the company in a research note on Wednesday, July 17th. Finally, Royal Bank of Canada restated a "sector perform" rating and issued a $57.00 target price on shares of Devon Energy in a research note on Tuesday, September 3rd. Nine research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $52.53.
Check Out Our Latest Report on DVN
Devon Energy Company Profile
(
Free Report)
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.
Further Reading
Before you consider Devon Energy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Devon Energy wasn't on the list.
While Devon Energy currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
