DekaBank Deutsche Girozentrale Boosts Stock Position in Devon Energy Co. (NYSE:DVN)

DekaBank Deutsche Girozentrale grew its stake in Devon Energy Co. (NYSE:DVN) by 5.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 224,898 shares of the energy company’s stock after purchasing an additional 10,940 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Devon Energy were worth $10,576,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Devon Energy by 3.5% in the first quarter. Vanguard Group Inc. now owns 76,457,056 shares of the energy company’s stock valued at $3,836,615,000 after purchasing an additional 2,559,039 shares in the last quarter. Raymond James & Associates lifted its holdings in Devon Energy by 1.5% in the second quarter. Raymond James & Associates now owns 9,183,778 shares of the energy company’s stock valued at $435,311,000 after acquiring an additional 138,919 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in Devon Energy by 3.8% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 4,699,410 shares of the energy company’s stock valued at $222,752,000 after acquiring an additional 169,923 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Devon Energy by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 4,680,448 shares of the energy company’s stock valued at $221,853,000 after acquiring an additional 18,443 shares during the last quarter. Finally, Schroder Investment Management Group lifted its holdings in Devon Energy by 6.1% in the fourth quarter. Schroder Investment Management Group now owns 2,836,108 shares of the energy company’s stock valued at $128,476,000 after acquiring an additional 162,327 shares during the last quarter. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on the company. JPMorgan Chase & Co. decreased their price objective on Devon Energy from $64.00 to $51.00 and set an “overweight” rating on the stock in a report on Thursday, September 12th. Wells Fargo & Company decreased their price objective on Devon Energy from $57.00 to $55.00 and set an “overweight” rating on the stock in a report on Wednesday, August 14th. Scotiabank decreased their price objective on shares of Devon Energy from $67.00 to $60.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Piper Sandler dropped their target price on shares of Devon Energy from $65.00 to $57.00 and set an “overweight” rating for the company in a report on Thursday, August 15th. Finally, Bank of America restated a “buy” rating and set a $64.00 price target on shares of Devon Energy in a research note on Friday, June 14th. Six investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $57.63.

Devon Energy Stock Up 0.5 %

DVN stock opened at $39.64 on Tuesday. The company’s 50 day moving average price is $44.50 and its 200 day moving average price is $47.42. The firm has a market capitalization of $25.05 billion, a price-to-earnings ratio of 7.56, a PEG ratio of 1.13 and a beta of 2.03. Devon Energy Co. has a fifty-two week low of $39.02 and a fifty-two week high of $55.09. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.03 and a current ratio of 1.11.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, August 6th. The energy company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.15. The company had revenue of $3.92 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.18 EPS. On average, equities research analysts anticipate that Devon Energy Co. will post 5.36 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be issued a $0.22 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.22%. Devon Energy’s payout ratio is currently 16.79%.

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.