Versor Investments LP Buys New Position in Devon Energy Co. (NYSE:DVN)

Versor Investments LP purchased a new position in shares of Devon Energy Co. (NYSE:DVN - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 26,800 shares of the energy company's stock, valued at approximately $1,048,000.

A number of other institutional investors and hedge funds have also made changes to their positions in DVN. Triad Wealth Partners LLC purchased a new stake in shares of Devon Energy in the second quarter valued at about $27,000. 1620 Investment Advisors Inc. acquired a new stake in Devon Energy during the 2nd quarter valued at $34,000. Capital Performance Advisors LLP acquired a new position in Devon Energy during the 3rd quarter worth $35,000. PSI Advisors LLC grew its holdings in Devon Energy by 66.7% during the 2nd quarter. PSI Advisors LLC now owns 750 shares of the energy company's stock worth $36,000 after acquiring an additional 300 shares in the last quarter. Finally, LRI Investments LLC bought a new position in shares of Devon Energy in the 1st quarter worth about $39,000. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Truist Financial downgraded shares of Devon Energy from a "buy" rating to a "hold" rating and cut their price objective for the company from $49.00 to $43.00 in a research report on Thursday, November 7th. UBS Group cut their price objective on shares of Devon Energy from $53.00 to $47.00 and set a "neutral" rating on the stock in a research report on Wednesday, September 18th. Benchmark reissued a "hold" rating on shares of Devon Energy in a research note on Tuesday, October 15th. Sanford C. Bernstein lowered their target price on shares of Devon Energy from $48.00 to $43.00 and set a "market perform" rating on the stock in a research note on Wednesday, July 17th. Finally, Barclays lowered their target price on shares of Devon Energy from $55.00 to $46.00 and set an "equal weight" rating on the stock in a research note on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Devon Energy presently has a consensus rating of "Hold" and a consensus target price of $51.80.

Devon Energy Stock Down 1.6 %

NYSE DVN traded down $0.63 on Tuesday, reaching $38.33. The company had a trading volume of 8,051,345 shares, compared to its average volume of 7,441,273. The company's fifty day moving average is $40.36 and its 200-day moving average is $44.69. Devon Energy Co. has a 1-year low of $37.76 and a 1-year high of $55.09. The firm has a market capitalization of $25.18 billion, a price-to-earnings ratio of 7.23, a price-to-earnings-growth ratio of 1.21 and a beta of 2.03. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.03 and a current ratio of 1.11.

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 (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $3.72 billion. During the same quarter last year, the firm earned $1.65 EPS. Devon Energy's revenue for the quarter was up 4.9% compared to the same quarter last year. On average, research analysts forecast that Devon Energy Co. will post 4.89 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

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

About Devon Energy

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.