Eagle Asset Management Inc. Has $1.44 Million Stock Holdings in Devon Energy Co. (NYSE:DVN)

Eagle Asset Management Inc. lowered its position in shares of Devon Energy Co. (NYSE:DVN) by 79.1% in the third quarter, Holdings Channel reports. The institutional investor owned 36,915 shares of the energy company’s stock after selling 140,007 shares during the period. Eagle Asset Management Inc.’s holdings in Devon Energy were worth $1,435,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of DVN. Activest Wealth Management raised its stake in Devon Energy by 60.4% in the 3rd quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock worth $50,000 after purchasing an additional 480 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Devon Energy by 1.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,881,720 shares of the energy company’s stock worth $151,853,000 after purchasing an additional 69,442 shares during the period. Blackhawk Capital Partners LLC. acquired a new stake in shares of Devon Energy in the third quarter valued at approximately $202,000. Pacer Advisors Inc. boosted its stake in shares of Devon Energy by 16.9% in 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 period. Finally, Landscape Capital Management L.L.C. grew its position in Devon Energy by 177.4% during the third quarter. Landscape Capital Management L.L.C. now owns 25,566 shares of the energy company’s stock worth $1,000,000 after buying an additional 16,351 shares in the last quarter. Institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Down 3.0 %

NYSE:DVN opened at $38.28 on Tuesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01. Devon Energy Co. has a one year low of $37.76 and a one year high of $55.09. The firm’s 50 day simple moving average is $39.91 and its 200 day simple moving average is $43.81. The company has a market cap of $25.14 billion, a PE ratio of 7.10, a P/E/G ratio of 1.25 and a beta of 2.03.

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

Devon Energy Dividend Announcement

The business also recently declared 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 is Friday, December 13th. This represents a $0.88 annualized dividend and a dividend yield of 2.30%. Devon Energy’s payout ratio is 16.33%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Piper Sandler lifted their price objective on Devon Energy from $56.00 to $57.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $57.00 price target on shares of Devon Energy in a research note on Tuesday, September 3rd. Raymond James reduced their price objective on shares of Devon Energy from $58.00 to $51.00 in a research note on Tuesday, November 5th. Wells Fargo & Company dropped their target price on shares of Devon Energy from $50.00 to $49.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. Finally, Jefferies Financial Group initiated coverage on shares of Devon Energy in a research report on Thursday, October 3rd. They set a “hold” rating and a $45.00 price target on the stock. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $51.85.

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.