Vanguard Personalized Indexing Management LLC Purchases 10,564 Shares of Devon Energy Co. (NYSE:DVN)

Vanguard Personalized Indexing Management LLC raised its position in shares of Devon Energy Co. (NYSE:DVN) by 14.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 84,286 shares of the energy company’s stock after purchasing an additional 10,564 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Devon Energy were worth $3,993,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Amalgamated Bank grew its position in Devon Energy by 21.9% during the second quarter. Amalgamated Bank now owns 162,107 shares of the energy company’s stock valued at $7,684,000 after buying an additional 29,114 shares during the period. Meiji Yasuda Asset Management Co Ltd. grew its position in shares of Devon Energy by 12.5% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 10,567 shares of the energy company’s stock valued at $501,000 after acquiring an additional 1,172 shares during the period. Mercer Global Advisors Inc. ADV increased its stake in shares of Devon Energy by 2.3% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 104,754 shares of the energy company’s stock worth $4,958,000 after purchasing an additional 2,384 shares in the last quarter. Argent Trust Co increased its stake in shares of Devon Energy by 0.8% in the 2nd quarter. Argent Trust Co now owns 47,159 shares of the energy company’s stock worth $2,235,000 after purchasing an additional 361 shares in the last quarter. Finally, Mutual of America Capital Management LLC raised its holdings in Devon Energy by 16.8% in the 2nd quarter. Mutual of America Capital Management LLC now owns 188,527 shares of the energy company’s stock worth $8,936,000 after purchasing an additional 27,056 shares during the period. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Susquehanna reduced their price target on Devon Energy from $65.00 to $63.00 and set a “positive” rating for the company in a research report on Wednesday, September 4th. Piper Sandler reduced 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. Sanford C. Bernstein decreased their target price on shares of Devon Energy from $48.00 to $43.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 17th. Truist Financial dropped their price target on shares of Devon Energy from $67.00 to $64.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Finally, StockNews.com downgraded shares of Devon Energy from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Six research 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $57.00.

Devon Energy Stock Performance

NYSE:DVN opened at $40.97 on Friday. The company has a market cap of $25.89 billion, a price-to-earnings ratio of 7.82, a PEG ratio of 1.13 and a beta of 2.03. Devon Energy Co. has a 1 year low of $39.02 and a 1 year high of $55.09. The stock’s 50 day simple moving average is $44.28 and its two-hundred day simple moving average is $47.35. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.11 and a quick ratio of 1.03.

Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, August 6th. The energy company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.15. The firm had revenue of $3.92 billion during the quarter, compared to analyst estimates of $3.90 billion. Devon Energy had a net margin of 22.60% and a return on equity of 29.14%. Devon Energy’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period last year, the firm posted $1.18 earnings per share. As a group, equities analysts anticipate that Devon Energy Co. will post 5.36 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.15%. The ex-dividend date is Friday, September 13th. Devon Energy’s dividend payout ratio is 16.79%.

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.