Tidal Investments LLC Has $3.02 Million Stock Holdings in Devon Energy Co. (NYSE:DVN)

Tidal Investments LLC decreased its holdings in shares of Devon Energy Co. (NYSE:DVN) by 26.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 77,253 shares of the energy company’s stock after selling 28,294 shares during the quarter. Tidal Investments LLC’s holdings in Devon Energy were worth $3,022,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. EnCap Energy Capital Fund XI L.P. acquired a new stake in shares of Devon Energy in the third quarter worth $461,857,000. EnCap Partners GP LLC bought a new stake in Devon Energy in the 3rd quarter valued at $408,653,000. EnCap Energy Capital Fund X L.P. acquired a new stake in Devon Energy in the 3rd quarter worth $230,928,000. International Assets Investment Management LLC increased its holdings in shares of Devon Energy by 4,125.7% during the 3rd quarter. International Assets Investment Management LLC now owns 2,280,961 shares of the energy company’s stock worth $89,231,000 after purchasing an additional 2,226,983 shares during the period. Finally, Pacer Advisors Inc. raised its position in shares of Devon Energy by 16.9% during the third quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company’s stock valued at $453,446,000 after buying an additional 1,677,652 shares during the last quarter. 69.72% of the stock is owned by institutional investors.

Devon Energy Stock Performance

Shares of NYSE:DVN opened at $33.88 on Friday. The business has a fifty day moving average of $38.75 and a 200-day moving average of $42.57. The firm has a market cap of $22.26 billion, a PE ratio of 6.29, a price-to-earnings-growth ratio of 1.10 and a beta of 1.99. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11. Devon Energy Co. has a twelve month low of $33.39 and a twelve month high of $55.09.

Devon Energy (NYSE:DVN) last announced its earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.01. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The company had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same period in the prior year, the business earned $1.65 earnings per share. Devon Energy’s quarterly revenue was up 4.9% on a year-over-year basis. On average, equities research analysts predict that Devon Energy Co. will post 4.79 EPS for the current fiscal year.

Devon Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.88 annualized dividend and a dividend yield of 2.60%. Devon Energy’s dividend payout ratio (DPR) is currently 16.33%.

Wall Street Analyst Weigh In

DVN has been the topic of a number of recent research reports. BMO Capital Markets decreased their target price on Devon Energy from $52.00 to $48.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Evercore ISI lowered their price objective on Devon Energy from $55.00 to $50.00 and set an “in-line” rating on the stock in a research report on Monday, September 30th. Benchmark restated a “hold” rating on shares of Devon Energy in a research note on Tuesday, October 15th. Truist Financial downgraded shares of Devon Energy from a “buy” rating to a “hold” rating and decreased their price target for the stock from $49.00 to $43.00 in a research note on Thursday, November 7th. Finally, Wells Fargo & Company dropped their price objective on shares of Devon Energy from $50.00 to $49.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $50.75.

About Devon Energy

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.