Huntington National Bank Has $104,000 Stock Holdings in Devon Energy Co. (NYSE:DVN)

Huntington National Bank lowered its stake in Devon Energy Co. (NYSE:DVN) by 48.8% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 2,660 shares of the energy company’s stock after selling 2,536 shares during the period. Huntington National Bank’s holdings in Devon Energy were worth $104,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of DVN. International Assets Investment Management LLC grew its position in shares of Devon Energy by 4,125.7% in the third quarter. International Assets Investment Management LLC now owns 2,280,961 shares of the energy company’s stock valued at $89,231,000 after purchasing an additional 2,226,983 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Devon Energy by 16.8% in the 2nd quarter. Pacer Advisors Inc. now owns 9,913,516 shares of the energy company’s stock valued at $469,901,000 after purchasing an additional 1,428,776 shares during the period. Los Angeles Capital Management LLC grew its holdings in Devon Energy by 7,165.6% in the 2nd quarter. Los Angeles Capital Management LLC now owns 1,376,253 shares of the energy company’s stock valued at $65,234,000 after buying an additional 1,357,311 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Devon Energy by 16.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,793,217 shares of the energy company’s stock worth $416,779,000 after buying an additional 1,255,543 shares during the period. Finally, National Bank of Canada FI lifted its holdings in shares of Devon Energy by 447.6% during the second quarter. National Bank of Canada FI now owns 1,179,538 shares of the energy company’s stock worth $56,299,000 after buying an additional 964,147 shares in the last quarter. 69.72% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on DVN. Raymond James lowered their price target on shares of Devon Energy from $58.00 to $51.00 in a research report on Tuesday, November 5th. Barclays dropped their price target on shares of 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. Truist Financial downgraded Devon Energy from a “buy” rating to a “hold” rating and reduced their price target for the stock from $49.00 to $43.00 in a research report on Thursday, November 7th. Mizuho dropped their price objective on Devon Energy from $53.00 to $51.00 and set an “outperform” rating for the company in a report on Wednesday, October 9th. Finally, BMO Capital Markets reduced their target price on Devon Energy from $52.00 to $48.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. One investment 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $51.80.

Devon Energy Trading Down 2.3 %

Shares of DVN stock opened at $38.47 on Monday. 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 firm has a market capitalization of $25.27 billion, a P/E ratio of 7.14, a P/E/G ratio of 1.20 and a beta of 2.03. Devon Energy Co. has a twelve month low of $37.76 and a twelve month high of $55.09. The stock’s fifty day simple moving average is $40.09 and its 200 day simple moving average is $44.33.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.01. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The company had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter in the prior year, the firm posted $1.65 earnings per share. The firm’s revenue was up 4.9% compared to the same quarter last year. As a group, sell-side analysts predict that Devon Energy Co. will post 4.84 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders 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 (DPR) is presently 16.33%.

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.