Devon Energy Co. (NYSE:DVN) Shares Acquired by Plato Investment Management Ltd

Plato Investment Management Ltd grew its holdings in Devon Energy Co. (NYSE:DVN - Free Report) by 44.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 102,180 shares of the energy company's stock after acquiring an additional 31,405 shares during the period. Plato Investment Management Ltd's holdings in Devon Energy were worth $3,993,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. William B. Walkup & Associates Inc. purchased a new position in Devon Energy in the second quarter worth approximately $1,026,000. Gordian Capital Singapore Pte Ltd purchased a new stake in shares of Devon Energy during the 2nd quarter worth $711,000. Nations Financial Group Inc. IA ADV acquired a new position in shares of Devon Energy during the third quarter worth $592,000. New York State Teachers Retirement System increased its holdings in Devon Energy by 14.2% in the third quarter. New York State Teachers Retirement System now owns 704,831 shares of the energy company's stock valued at $27,573,000 after buying an additional 87,462 shares during the last quarter. Finally, CWM LLC increased its holdings in Devon Energy by 73.4% in the third quarter. CWM LLC now owns 38,969 shares of the energy company's stock valued at $1,524,000 after buying an additional 16,490 shares during the last quarter. Hedge funds and other institutional investors own 69.72% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on DVN shares. Scotiabank decreased their target price on Devon Energy from $60.00 to $48.00 and set a "sector outperform" rating for the company in a research note on Thursday, October 10th. Jefferies Financial Group started coverage on shares of Devon Energy in a report on Thursday, October 3rd. They issued a "hold" rating and a $45.00 target price for the company. Sanford C. Bernstein cut their target price on 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. Evercore ISI cut their target price on shares of Devon Energy from $55.00 to $50.00 and set an "in-line" rating on the stock in a report on Monday, September 30th. Finally, Piper Sandler decreased their price target on shares of Devon Energy from $57.00 to $56.00 and set an "overweight" rating for the company in a research note on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $51.80.

Devon Energy Stock Performance

Shares of DVN traded up $0.25 during mid-day trading on Thursday, hitting $39.36. The stock had a trading volume of 5,234,968 shares, compared to its average volume of 7,435,314. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61. The company has a market cap of $25.86 billion, a PE ratio of 7.30, a PEG ratio of 1.19 and a beta of 2.03. Devon Energy Co. has a fifty-two week low of $37.76 and a fifty-two week high of $55.09. The company's fifty day simple moving average is $40.15 and its two-hundred day simple moving average is $44.52.

Devon Energy (NYSE:DVN - Get Free Report) last issued its earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, topping analysts' consensus estimates of $1.09 by $0.01. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The company had revenue of $4.02 billion for the quarter, compared to analysts' expectations of $3.72 billion. During the same period in the prior year, the company earned $1.65 earnings per share. The firm's revenue was up 4.9% compared to the same quarter last year. On average, equities analysts expect that Devon Energy Co. will post 4.86 earnings per share for the current year.

Devon Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.24%. Devon Energy's payout ratio is currently 16.33%.

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.