Nations Financial Group Inc. IA ADV Buys Shares of 15,122 Devon Energy Co. (NYSE:DVN)

Nations Financial Group Inc. IA ADV purchased a new position in shares of Devon Energy Co. (NYSE:DVN) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 15,122 shares of the energy company’s stock, valued at approximately $592,000.

A number of other institutional investors have also modified their holdings of the company. Triad Wealth Partners LLC acquired a new stake in Devon Energy during the second quarter worth approximately $27,000. 1620 Investment Advisors Inc. acquired a new stake in shares of Devon Energy during the second quarter worth $34,000. PSI Advisors LLC grew its position in shares of Devon Energy by 66.7% in the second quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock valued at $36,000 after purchasing an additional 300 shares during the period. LRI Investments LLC acquired a new position in Devon Energy in the first quarter valued at $39,000. Finally, Capital Performance Advisors LLP purchased a new position in Devon Energy during the third quarter worth about $35,000. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Trading Up 2.0 %

NYSE DVN opened at $39.10 on Thursday. The stock has a market cap of $25.68 billion, a P/E ratio of 7.25, a PEG ratio of 1.19 and a beta of 2.03. The company’s fifty day simple moving average is $40.20 and its 200-day simple moving average is $44.55. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. Devon Energy Co. has a 52 week low of $37.76 and a 52 week high of $55.09.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.01. The company had revenue of $4.02 billion during 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 firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.65 EPS. Equities research analysts predict that Devon Energy Co. will post 4.86 EPS for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date is Friday, December 13th. Devon Energy’s dividend payout ratio is currently 16.33%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on DVN shares. Barclays dropped their price objective on shares of Devon Energy from $55.00 to $46.00 and set an “equal weight” rating for the company in a research note on Thursday, October 3rd. Wells Fargo & Company decreased their price target on shares of Devon Energy from $50.00 to $49.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. JPMorgan Chase & Co. lowered their price objective on shares of Devon Energy from $64.00 to $51.00 and set an “overweight” rating for the company in a research note on Thursday, September 12th. Piper Sandler cut their target price on Devon Energy from $57.00 to $56.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 15th. Finally, Morgan Stanley reduced their target price on Devon Energy from $55.00 to $51.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Devon Energy has a consensus rating of “Hold” and an average price target of $51.80.

Devon Energy Company 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.