Devon Energy Corporation $DVN Shares Sold by LSV Asset Management

LSV Asset Management decreased its position in shares of Devon Energy Corporation (NYSE:DVN) by 12.8% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 384,900 shares of the energy company’s stock after selling 56,260 shares during the period. LSV Asset Management’s holdings in Devon Energy were worth $12,244,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC acquired a new stake in shares of Devon Energy during the second quarter valued at about $25,000. Banque Cantonale Vaudoise acquired a new position in shares of Devon Energy in the first quarter worth about $26,000. Trust Co. of Vermont boosted its holdings in Devon Energy by 241.3% in the second quarter. Trust Co. of Vermont now owns 942 shares of the energy company’s stock valued at $30,000 after purchasing an additional 666 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in Devon Energy during the 2nd quarter valued at approximately $34,000. Finally, SouthState Corp increased its holdings in Devon Energy by 350.5% during the 1st quarter. SouthState Corp now owns 991 shares of the energy company’s stock worth $37,000 after purchasing an additional 771 shares during the last quarter. 69.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Roth Capital initiated coverage on Devon Energy in a research note on Monday, October 13th. They set a “buy” rating and a $42.00 target price for the company. The Goldman Sachs Group upped their price target on shares of Devon Energy from $40.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, November 13th. Scotiabank reissued an “outperform” rating on shares of Devon Energy in a report on Thursday, October 9th. UBS Group boosted their target price on shares of Devon Energy from $37.00 to $40.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 20th. Finally, Wells Fargo & Company reduced their price target on shares of Devon Energy from $43.00 to $37.00 and set an “overweight” rating on the stock in a research report on Friday, October 17th. One 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 company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $43.79.

Devon Energy Stock Down 1.6%

Shares of Devon Energy stock opened at $35.31 on Thursday. The stock has a market capitalization of $22.15 billion, a price-to-earnings ratio of 7.92, a PEG ratio of 2.49 and a beta of 1.01. Devon Energy Corporation has a twelve month low of $25.89 and a twelve month high of $39.65. The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. The business’s 50 day simple moving average is $33.96 and its 200-day simple moving average is $33.48.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Wednesday, November 5th. The energy company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.11. The business had revenue of $0.00 million for the quarter, compared to analysts’ expectations of $4.10 billion. Devon Energy had a net margin of 16.57% and a return on equity of 18.59%. During the same quarter last year, the company earned $1.10 EPS. Equities research analysts forecast that Devon Energy Corporation will post 4.85 earnings per share for the current year.

Devon Energy Dividend Announcement

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

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.