Entropy Technologies LP Has $6.04 Million Stock Holdings in Devon Energy Corporation $DVN

Entropy Technologies LP raised its position in Devon Energy Corporation (NYSE:DVN) by 415.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 189,826 shares of the energy company’s stock after acquiring an additional 152,983 shares during the period. Entropy Technologies LP’s holdings in Devon Energy were worth $6,038,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of DVN. SVB Wealth LLC increased its position in shares of Devon Energy by 4.1% during the first quarter. SVB Wealth LLC now owns 8,131 shares of the energy company’s stock valued at $304,000 after purchasing an additional 321 shares during the period. Yousif Capital Management LLC boosted its stake in Devon Energy by 0.4% during the second quarter. Yousif Capital Management LLC now owns 87,272 shares of the energy company’s stock worth $2,776,000 after buying an additional 321 shares in the last quarter. MAS Advisors LLC increased its holdings in Devon Energy by 4.3% in the 2nd quarter. MAS Advisors LLC now owns 7,951 shares of the energy company’s stock valued at $253,000 after buying an additional 327 shares during the period. Callan Family Office LLC raised its stake in shares of Devon Energy by 3.7% in the 1st quarter. Callan Family Office LLC now owns 10,581 shares of the energy company’s stock valued at $396,000 after buying an additional 377 shares in the last quarter. Finally, Argent Trust Co raised its stake in shares of Devon Energy by 1.7% in the 1st quarter. Argent Trust Co now owns 23,229 shares of the energy company’s stock valued at $869,000 after buying an additional 391 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Stock Down 0.3%

Shares of DVN opened at $35.18 on Friday. The company has a market capitalization of $22.07 billion, a P/E ratio of 7.89, a PEG ratio of 2.49 and a beta of 1.01. Devon Energy Corporation has a one year low of $25.89 and a one year high of $39.65. The business’s 50 day simple moving average is $33.95 and its 200-day simple moving average is $33.49. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.22 and a quick ratio of 1.13.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Wednesday, November 5th. The energy company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.11. The firm had revenue of $0.00 million during the quarter, compared to analysts’ expectations of $4.10 billion. Devon Energy had a return on equity of 18.59% and a net margin of 16.57%.During the same period last year, the firm posted $1.10 EPS. As a group, sell-side analysts predict that Devon Energy Corporation will post 4.85 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be given a dividend of $0.24 per share. The ex-dividend date is Monday, December 15th. This represents a $0.96 annualized dividend and a yield of 2.7%. Devon Energy’s dividend payout ratio is 22.59%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Royal Bank Of Canada set a $42.00 target price on shares of Devon Energy and gave the company a “sector perform” rating in a research report on Friday, October 10th. Susquehanna lifted their price objective on Devon Energy from $40.00 to $42.00 and gave the company a “positive” rating in a report on Wednesday, November 12th. Siebert Williams Shank dropped their target price on Devon Energy from $52.00 to $46.00 and set a “buy” rating for the company in a report on Monday, October 13th. BMO Capital Markets cut their target price on Devon Energy from $51.00 to $50.00 in a research report on Tuesday, November 11th. Finally, Capital One Financial lowered their price target on Devon Energy from $52.00 to $51.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 11th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Devon Energy presently has a consensus rating of “Moderate Buy” and an average price target of $43.79.

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.