B. Metzler seel. Sohn & Co. Holding AG Purchases New Position in Devon Energy Co. (NYSE:DVN)

B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Devon Energy Co. (NYSE:DVN) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 20,614 shares of the energy company’s stock, valued at approximately $806,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DVN. Triad Wealth Partners LLC bought a new position in shares of Devon Energy during the 2nd quarter valued at approximately $27,000. 1620 Investment Advisors Inc. purchased a new position in Devon Energy during the second quarter worth $34,000. Capital Performance Advisors LLP bought a new position in Devon Energy during the third quarter valued at $35,000. PSI Advisors LLC raised its stake 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 acquiring an additional 300 shares during the period. Finally, LRI Investments LLC bought a new stake in shares of Devon Energy in the 1st quarter worth about $39,000. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Devon Energy Stock Up 1.9 %

Devon Energy stock opened at $39.45 on Friday. 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 cap of $25.91 billion, a P/E ratio of 7.32, a P/E/G ratio of 1.22 and a beta of 2.03. The business has a fifty day moving average of $39.94 and a two-hundred day moving average of $43.95. Devon Energy Co. has a twelve month low of $37.76 and a twelve month high of $55.09.

Devon Energy (NYSE:DVN) last issued 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 for the quarter, compared to the consensus estimate of $3.72 billion. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.65 earnings per share. On average, analysts forecast that Devon Energy Co. will post 4.79 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.23%. The ex-dividend date is Friday, December 13th. Devon Energy’s dividend payout ratio is currently 16.33%.

Analysts Set New Price Targets

DVN has been the topic of a number of recent analyst reports. Benchmark reissued a “hold” rating on shares of Devon Energy in a research report on Tuesday, October 15th. Morgan Stanley reduced their price target on Devon Energy from $55.00 to $51.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Truist Financial cut Devon Energy from a “buy” rating to a “hold” rating and dropped their price objective for the company from $49.00 to $43.00 in a report on Thursday, November 7th. StockNews.com lowered Devon Energy from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Finally, Evercore ISI lowered their target price on shares of Devon Energy from $55.00 to $50.00 and set an “in-line” rating for the company in a research note on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $51.85.

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.