Waterloo Capital L.P. Takes $280,000 Position in Devon Energy Co. (NYSE:DVN)

Waterloo Capital L.P. bought a new stake in Devon Energy Co. (NYSE:DVN) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 5,898 shares of the energy company’s stock, valued at approximately $280,000.

A number of other institutional investors have also added to or reduced their stakes in DVN. Brown Advisory Inc. boosted its stake in Devon Energy by 43.0% during the fourth quarter. Brown Advisory Inc. now owns 11,889 shares of the energy company’s stock worth $539,000 after buying an additional 3,573 shares in the last quarter. TrinityPoint Wealth LLC bought a new position in shares of Devon Energy during the 4th quarter worth about $2,068,000. Gladstone Institutional Advisory LLC boosted its position in shares of Devon Energy by 21.2% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 8,833 shares of the energy company’s stock valued at $400,000 after acquiring an additional 1,545 shares in the last quarter. Balentine LLC increased its stake in Devon Energy by 11.2% in the fourth quarter. Balentine LLC now owns 7,276 shares of the energy company’s stock valued at $330,000 after acquiring an additional 735 shares during the period. Finally, CreativeOne Wealth LLC raised its position in Devon Energy by 11.9% in the fourth quarter. CreativeOne Wealth LLC now owns 10,985 shares of the energy company’s stock worth $498,000 after purchasing an additional 1,166 shares in the last quarter. 69.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DVN has been the topic of a number of recent research reports. Piper Sandler decreased their price objective on Devon Energy from $65.00 to $57.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $57.00 price target on shares of Devon Energy in a research report on Tuesday, September 3rd. Susquehanna cut their price objective on Devon Energy from $65.00 to $63.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Scotiabank reduced their target price on shares of Devon Energy from $67.00 to $60.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Finally, UBS Group dropped their target price on shares of Devon Energy from $53.00 to $47.00 and set a “neutral” rating for the company in a research report on Wednesday. Six research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $57.00.

Devon Energy Stock Up 1.5 %

NYSE DVN opened at $40.97 on Friday. 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 Co. has a 52 week low of $39.02 and a 52 week high of $55.09. The stock has a market capitalization of $25.89 billion, a P/E ratio of 7.82, a price-to-earnings-growth ratio of 1.13 and a beta of 2.03. The stock has a fifty day moving average of $44.28 and a 200-day moving average of $47.35.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, August 6th. The energy company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.15. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. The firm had revenue of $3.92 billion during the quarter, compared to analyst estimates of $3.90 billion. During the same period last year, the company earned $1.18 earnings per share. The company’s revenue was up 13.4% on a year-over-year basis. On average, equities research analysts forecast that Devon Energy Co. will post 5.36 EPS for the current year.

Devon Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.88 annualized dividend and a yield of 2.15%. Devon Energy’s dividend 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.