Nisa Investment Advisors LLC boosted its holdings in shares of Devon Energy Corp (NYSE:DVN) by 27.2% in the second quarter, HoldingsChannel reports. The firm owned 234,063 shares of the energy company’s stock after acquiring an additional 50,100 shares during the period. Nisa Investment Advisors LLC’s holdings in Devon Energy were worth $2,654,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the stock. Kwmg LLC increased its holdings in Devon Energy by 25.5% during the 2nd quarter. Kwmg LLC now owns 117,072 shares of the energy company’s stock valued at $1,328,000 after purchasing an additional 23,805 shares in the last quarter. Grandfield & Dodd LLC increased its holdings in Devon Energy by 53.1% during the 2nd quarter. Grandfield & Dodd LLC now owns 256,761 shares of the energy company’s stock valued at $2,910,000 after purchasing an additional 89,075 shares in the last quarter. Focused Wealth Management Inc increased its holdings in Devon Energy by 21.5% during the 2nd quarter. Focused Wealth Management Inc now owns 7,810 shares of the energy company’s stock valued at $89,000 after purchasing an additional 1,384 shares in the last quarter. NEXT Financial Group Inc increased its holdings in Devon Energy by 1,827.5% during the 2nd quarter. NEXT Financial Group Inc now owns 13,955 shares of the energy company’s stock valued at $158,000 after purchasing an additional 13,231 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its holdings in Devon Energy by 21.1% during the 2nd quarter. Janney Montgomery Scott LLC now owns 13,510 shares of the energy company’s stock valued at $153,000 after purchasing an additional 2,356 shares in the last quarter. 81.86% of the stock is owned by hedge funds and other institutional investors.
NYSE:DVN opened at $10.49 on Friday. Devon Energy Corp has a 12-month low of $4.70 and a 12-month high of $28.42. The company has a quick ratio of 2.61, a current ratio of 2.61 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $4.01 billion, a P/E ratio of 9.12 and a beta of 3.34. The stock’s fifty day simple moving average is $11.28 and its 200-day simple moving average is $13.78.
Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, May 5th. The energy company reported $0.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.31. The business had revenue of $2.09 billion for the quarter, compared to analyst estimates of $1.47 billion. Devon Energy had a positive return on equity of 7.81% and a negative net margin of 24.91%. The firm’s revenue was up 93.4% on a year-over-year basis. During the same period last year, the company earned $0.36 EPS. As a group, equities research analysts expect that Devon Energy Corp will post -0.35 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Monday, September 14th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $0.44 annualized dividend and a yield of 4.19%. Devon Energy’s dividend payout ratio is presently 31.88%.
DVN has been the subject of a number of recent analyst reports. Barclays raised their price target on Devon Energy from $11.00 to $13.00 and gave the company an “overweight” rating in a report on Wednesday, June 3rd. UBS Group raised their price target on Devon Energy from $14.00 to $19.00 and gave the company a “buy” rating in a report on Monday, June 29th. Piper Sandler upgraded Devon Energy from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $10.00 to $15.00 in a research report on Tuesday, July 21st. SunTrust Banks increased their price objective on Devon Energy from $13.00 to $14.00 and gave the company a “hold” rating in a research report on Friday, June 19th. Finally, Siebert Williams Shank reiterated a “buy” rating and issued a $16.00 price objective on shares of Devon Energy in a research report on Wednesday, May 6th. Nine research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $18.73.
Devon Energy Company Profile
Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States and Canada. It operates approximately 12,900 gross wells. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.
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