Moloney Securities Asset Management LLC Takes Position in Devon Energy Co. (NYSE:DVN)

Moloney Securities Asset Management LLC acquired a new stake in shares of Devon Energy Co. (NYSE:DVN) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 27,022 shares of the energy company’s stock, valued at approximately $1,057,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Triad Wealth Partners LLC acquired a new stake in Devon Energy during the 2nd quarter worth approximately $27,000. 1620 Investment Advisors Inc. purchased a new position in Devon Energy in the 2nd quarter worth approximately $34,000. PSI Advisors LLC boosted its holdings in Devon Energy by 66.7% in 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 during the period. LRI Investments LLC purchased a new position in Devon Energy in the 1st quarter worth approximately $39,000. Finally, Future Financial Wealth Managment LLC purchased a new position in Devon Energy in the 3rd quarter worth approximately $39,000. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Stock Performance

Shares of DVN opened at $39.33 on Wednesday. Devon Energy Co. has a 1 year low of $37.76 and a 1 year high of $55.09. The company has a market cap of $24.63 billion, a price-to-earnings ratio of 7.14, a price-to-earnings-growth ratio of 1.18 and a beta of 2.03. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.03 and a current ratio of 1.11. The firm has a fifty day moving average of $40.92 and a 200-day moving average of $45.15.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, August 6th. The energy company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.15. Devon Energy had a net margin of 22.60% and a return on equity of 29.14%. The business had revenue of $3.92 billion for the quarter, compared to analysts’ expectations of $3.90 billion. During the same period in the previous year, the business earned $1.18 earnings per share. The company’s revenue was up 13.4% on a year-over-year basis. As a group, equities analysts anticipate that Devon Energy Co. will post 4.93 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on DVN shares. Royal Bank of Canada restated a “sector perform” rating and issued a $57.00 price target on shares of Devon Energy in a report on Tuesday, September 3rd. Wolfe Research assumed coverage on Devon Energy in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Truist Financial reduced their target price on Devon Energy from $60.00 to $49.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Piper Sandler reduced their target price on Devon Energy from $57.00 to $56.00 and set an “overweight” rating for the company in a research note on Tuesday, October 15th. Finally, Scotiabank reduced their target price on Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Ten analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $52.15.

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.