Key Client Fiduciary Advisors LLC Acquires 746 Shares of Devon Energy Co. (NYSE:DVN)

Key Client Fiduciary Advisors LLC lifted its holdings in shares of Devon Energy Co. (NYSE:DVN) by 13.7% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,189 shares of the energy company’s stock after buying an additional 746 shares during the period. Key Client Fiduciary Advisors LLC’s holdings in Devon Energy were worth $293,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Creekmur Asset Management LLC bought a new stake in shares of Devon Energy during the fourth quarter worth $791,000. Wahed Invest LLC grew its position in Devon Energy by 6.3% during the 4th quarter. Wahed Invest LLC now owns 10,944 shares of the energy company’s stock worth $496,000 after acquiring an additional 648 shares during the last quarter. Tradewinds Capital Management LLC acquired a new position in Devon Energy in the 1st quarter worth about $30,000. MCF Advisors LLC raised its position in Devon Energy by 5.6% in the first quarter. MCF Advisors LLC now owns 4,023 shares of the energy company’s stock valued at $202,000 after purchasing an additional 215 shares during the last quarter. Finally, Principal Securities Inc. acquired a new stake in shares of Devon Energy during the fourth quarter valued at about $702,000. 69.72% of the stock is currently owned by institutional investors.

Devon Energy Stock Performance

NYSE DVN traded down $0.15 during trading hours on Wednesday, reaching $44.49. 5,702,401 shares of the company were exchanged, compared to its average volume of 7,261,957. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $28.12 billion, a P/E ratio of 8.49, a P/E/G ratio of 0.75 and a beta of 2.07. Devon Energy Co. has a 1 year low of $40.47 and a 1 year high of $55.09. The business’s 50 day simple moving average is $46.22 and its 200-day simple moving average is $47.34.

Devon Energy (NYSE:DVN) last released its earnings results on Tuesday, August 6th. The energy company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.15. The business had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $3.90 billion. Devon Energy had a return on equity of 29.02% and a net margin of 22.27%. The business’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same period last year, the business posted $1.18 earnings per share. On average, equities research analysts expect that Devon Energy Co. will post 5.4 earnings per share for the current year.

Devon Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.88 dividend on an annualized basis and a yield of 1.98%. Devon Energy’s payout ratio is 16.79%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $57.00 target price on shares of Devon Energy in a research report on Tuesday, July 9th. StockNews.com raised Devon Energy from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Susquehanna reaffirmed a “positive” rating and set a $65.00 price objective on shares of Devon Energy in a research report on Tuesday, July 9th. Piper Sandler boosted their target price on shares of Devon Energy from $60.00 to $61.00 and gave the company an “overweight” rating in a research report on Tuesday, May 14th. Finally, Scotiabank cut their target price on shares of Devon Energy from $67.00 to $60.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Five equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $59.00.

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.