Devon Energy Co. (NYSE:DVN) Shares Bought by Lazari Capital Management Inc.

Lazari Capital Management Inc. lifted its holdings in Devon Energy Co. (NYSE:DVN) by 2.8% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 32,400 shares of the energy company’s stock after buying an additional 893 shares during the quarter. Lazari Capital Management Inc.’s holdings in Devon Energy were worth $1,267,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Private Advisor Group LLC lifted its holdings in Devon Energy by 15.1% in the third quarter. Private Advisor Group LLC now owns 96,216 shares of the energy company’s stock worth $3,764,000 after acquiring an additional 12,607 shares during the last quarter. Leo Wealth LLC acquired a new stake in shares of Devon Energy during the 3rd quarter worth approximately $202,000. Pegasus Asset Management Inc. lifted its holdings in shares of Devon Energy by 2.8% in the 3rd quarter. Pegasus Asset Management Inc. now owns 74,293 shares of the energy company’s stock worth $2,906,000 after purchasing an additional 2,031 shares during the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of Devon Energy by 4.6% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 35,711 shares of the energy company’s stock worth $1,397,000 after purchasing an additional 1,564 shares during the last quarter. Finally, Everence Capital Management Inc. acquired a new position in Devon Energy during the 3rd quarter valued at approximately $1,086,000. 69.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DVN has been the topic of a number of recent research reports. Benchmark reiterated a “hold” rating on shares of Devon Energy in a research note on Tuesday, October 15th. Barclays cut their price objective on shares of Devon Energy from $55.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. Truist Financial decreased their target price on shares of Devon Energy from $60.00 to $49.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Mizuho cut their price target on Devon Energy from $53.00 to $51.00 and set an “outperform” rating on the stock in a report on Wednesday, October 9th. Finally, Susquehanna decreased their price objective on Devon Energy from $63.00 to $62.00 and set a “positive” rating for the company in a report on Friday, October 18th. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.53.

Devon Energy Stock Up 0.2 %

NYSE DVN opened at $40.17 on Wednesday. Devon Energy Co. has a 12 month low of $37.76 and a 12 month high of $55.09. The company has a market capitalization of $25.39 billion, a P/E ratio of 7.67, a PEG ratio of 1.27 and a beta of 2.02. The company’s 50 day simple moving average is $41.96 and its 200 day simple moving average is $46.05. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.11 and a quick ratio of 1.03.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, August 6th. The energy company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.15. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. The company had revenue of $3.92 billion for the quarter, compared to analysts’ expectations of $3.90 billion. During the same quarter in the prior year, the company earned $1.18 earnings per share. The firm’s revenue was up 13.4% on a year-over-year basis. Equities research analysts expect that Devon Energy Co. will post 5.01 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend was Friday, September 13th. Devon Energy’s payout ratio is 16.79%.

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.