DekaBank Deutsche Girozentrale Reduces Holdings in Devon Energy Co. (NYSE:DVN)

DekaBank Deutsche Girozentrale reduced its stake in Devon Energy Co. (NYSE:DVN) by 4.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 214,315 shares of the energy company’s stock after selling 10,583 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Devon Energy were worth $8,311,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC increased its stake in Devon Energy by 1.5% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 1,427,817 shares of the energy company’s stock valued at $55,856,000 after purchasing an additional 21,039 shares in the last quarter. PFG Investments LLC increased its position in shares of Devon Energy by 16.1% in the 3rd quarter. PFG Investments LLC now owns 28,047 shares of the energy company’s stock valued at $1,097,000 after acquiring an additional 3,898 shares during the period. Arkadios Wealth Advisors raised its stake in Devon Energy by 31.8% in the 3rd quarter. Arkadios Wealth Advisors now owns 48,024 shares of the energy company’s stock worth $1,879,000 after acquiring an additional 11,596 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Devon Energy by 19.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 61,970 shares of the energy company’s stock worth $2,414,000 after acquiring an additional 10,141 shares during the period. Finally, Allworth Financial LP grew its stake in Devon Energy by 8.7% during the 3rd quarter. Allworth Financial LP now owns 6,079 shares of the energy company’s stock valued at $238,000 after purchasing an additional 484 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Devon Energy Price Performance

Shares of NYSE DVN opened at $38.34 on Thursday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.03 and a current ratio of 1.11. The firm has a fifty day moving average of $41.26 and a 200 day moving average of $45.48. The firm has a market cap of $24.01 billion, a PE ratio of 6.96, a PEG ratio of 1.22 and a beta of 2.02. Devon Energy Co. has a one year low of $37.76 and a one year high of $55.09.

Devon Energy (NYSE:DVN) last released its earnings results on Tuesday, August 6th. The energy company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.15. The business had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $3.90 billion. Devon Energy had a net margin of 22.60% and a return on equity of 29.14%. The company’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.18 earnings per share. As a group, research analysts predict that Devon Energy Co. will post 4.98 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were given a $0.22 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.88 annualized dividend and a dividend yield of 2.30%. Devon Energy’s dividend payout ratio (DPR) is presently 15.97%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on DVN. Sanford C. Bernstein reduced their price objective on Devon Energy from $48.00 to $43.00 and set a “market perform” rating for the company in a research note on Wednesday, July 17th. StockNews.com lowered shares of Devon Energy from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Piper Sandler dropped their price objective on shares of Devon Energy from $57.00 to $56.00 and set an “overweight” rating on the stock in a report on Tuesday, October 15th. Mizuho reduced their target price on shares of Devon Energy from $53.00 to $51.00 and set an “outperform” rating for the company in a report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Devon Energy from $64.00 to $51.00 and set an “overweight” rating for the company in a research report on Thursday, September 12th. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Devon Energy has a consensus rating of “Moderate Buy” and an average target price of $52.53.

Devon Energy 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.