18,173 Shares in Devon Energy Co. (NYSE:DVN) Bought by Prospera Private Wealth LLC

Prospera Private Wealth LLC purchased a new position in Devon Energy Co. (NYSE:DVN - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 18,173 shares of the energy company's stock, valued at approximately $711,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. International Assets Investment Management LLC grew its holdings in Devon Energy by 4,125.7% during the 3rd quarter. International Assets Investment Management LLC now owns 2,280,961 shares of the energy company's stock worth $89,231,000 after acquiring an additional 2,226,983 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Devon Energy by 16.8% during the second quarter. Pacer Advisors Inc. now owns 9,913,516 shares of the energy company's stock worth $469,901,000 after purchasing an additional 1,428,776 shares during the last quarter. Los Angeles Capital Management LLC grew its stake in Devon Energy by 7,165.6% in the second quarter. Los Angeles Capital Management LLC now owns 1,376,253 shares of the energy company's stock worth $65,234,000 after purchasing an additional 1,357,311 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Devon Energy by 16.7% in the second quarter. Dimensional Fund Advisors LP now owns 8,793,217 shares of the energy company's stock valued at $416,779,000 after buying an additional 1,255,543 shares during the last quarter. Finally, National Bank of Canada FI raised its stake in Devon Energy by 447.6% during the second 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. Hedge funds and other institutional investors own 69.72% of the company's stock.

Wall Street Analyst Weigh In

DVN has been the subject of several research reports. Benchmark reiterated a "hold" rating on shares of Devon Energy in a research report on Tuesday, October 15th. Morgan Stanley dropped their target price on shares of Devon Energy from $55.00 to $51.00 and set an "overweight" rating on the stock in a report on Monday, September 16th. Evercore ISI decreased their price target on shares of Devon Energy from $55.00 to $50.00 and set an "in-line" rating for the company in a report on Monday, September 30th. Truist Financial lowered shares of Devon Energy from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $49.00 to $43.00 in a research note on Thursday, November 7th. Finally, Wells Fargo & Company lowered their target price on Devon Energy from $50.00 to $49.00 and set an "overweight" rating for the company in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Devon Energy presently has a consensus rating of "Hold" and an average price target of $51.85.

Devon Energy Price Performance

NYSE DVN traded up $0.28 on Wednesday, reaching $38.19. 2,571,966 shares of the stock traded hands, compared to its average volume of 7,409,506. Devon Energy Co. has a 12 month low of $37.76 and a 12 month high of $55.09. The company has a market cap of $25.09 billion, a price-to-earnings ratio of 7.08, a P/E/G ratio of 1.20 and a beta of 2.03. The firm's fifty day simple moving average is $39.99 and its 200 day simple moving average is $44.15. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61.

Devon Energy (NYSE:DVN - Get Free Report) last announced its earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.01. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The business had revenue of $4.02 billion during the quarter, compared to analysts' expectations of $3.72 billion. During the same quarter last year, the business posted $1.65 earnings per share. The company's quarterly revenue was up 4.9% on a year-over-year basis. As a group, research analysts predict that Devon Energy Co. will post 4.84 EPS for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.30%. Devon Energy's payout ratio is currently 16.33%.

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.