Thrivent Financial for Lutherans Purchases 46,137 Shares of Devon Energy Co. (NYSE:DVN)

Thrivent Financial for Lutherans boosted its position in Devon Energy Co. (NYSE:DVN) by 0.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,140,154 shares of the energy company’s stock after acquiring an additional 46,137 shares during the period. Thrivent Financial for Lutherans’ holdings in Devon Energy were worth $201,084,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. William B. Walkup & Associates Inc. bought a new stake in Devon Energy during the 2nd quarter worth approximately $1,026,000. Gordian Capital Singapore Pte Ltd purchased a new stake in Devon Energy in the 2nd quarter valued at $711,000. Nations Financial Group Inc. IA ADV bought a new position in Devon Energy during the 3rd quarter valued at $592,000. New York State Teachers Retirement System boosted its holdings in Devon Energy by 14.2% during the 3rd quarter. New York State Teachers Retirement System now owns 704,831 shares of the energy company’s stock worth $27,573,000 after acquiring an additional 87,462 shares during the last quarter. Finally, CWM LLC grew its stake in shares of Devon Energy by 73.4% in the 3rd quarter. CWM LLC now owns 38,969 shares of the energy company’s stock worth $1,524,000 after acquiring an additional 16,490 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Price Performance

Shares of NYSE:DVN opened at $38.47 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61. The stock has a market cap of $25.27 billion, a PE ratio of 7.14, a PEG ratio of 1.20 and a beta of 2.03. The company’s fifty day moving average is $40.09 and its 200 day moving average is $44.37. Devon Energy Co. has a 52 week low of $37.76 and a 52 week high of $55.09.

Devon Energy (NYSE:DVN) last issued its earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.01. The firm had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.72 billion. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The business’s revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the business earned $1.65 earnings per share. Research analysts anticipate that Devon Energy Co. will post 4.84 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, December 30th. Investors of record on Friday, December 13th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.29%. Devon Energy’s dividend payout ratio is presently 16.33%.

Wall Street Analyst Weigh In

DVN has been the subject of several analyst reports. Scotiabank decreased their price objective on shares of 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. Susquehanna dropped their price target on Devon Energy from $63.00 to $62.00 and set a “positive” rating on the stock in a report on Friday, October 18th. Barclays decreased their target price on Devon Energy from $55.00 to $46.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. TD Cowen cut their price target on shares of Devon Energy from $54.00 to $46.00 and set a “hold” rating on the stock in a report on Tuesday, November 5th. Finally, BMO Capital Markets decreased their price objective on shares of Devon Energy from $52.00 to $48.00 and set an “outperform” rating for the company in a report on Friday, October 4th. One 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.com, Devon Energy currently has an average rating of “Hold” and an average price target of $51.80.

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.