Hancock Whitney Corp Purchases 8,719 Shares of Devon Energy Co. (NYSE:DVN)

Hancock Whitney Corp increased its position in shares of Devon Energy Co. (NYSE:DVN) by 174.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,719 shares of the energy company’s stock after purchasing an additional 8,719 shares during the period. Hancock Whitney Corp’s holdings in Devon Energy were worth $650,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Triad Wealth Partners LLC purchased a new position in shares of Devon Energy in the second quarter valued at about $27,000. Tradewinds Capital Management LLC bought a new position in Devon Energy in the 1st quarter worth approximately $30,000. Jones Financial Companies Lllp grew its holdings in Devon Energy by 104.8% during the 4th quarter. Jones Financial Companies Lllp now owns 731 shares of the energy company’s stock valued at $33,000 after buying an additional 374 shares in the last quarter. 1620 Investment Advisors Inc. bought a new stake in shares of Devon Energy during the second quarter valued at approximately $34,000. Finally, PSI Advisors LLC lifted its holdings in shares of Devon Energy by 66.7% in the second quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock worth $36,000 after buying an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Devon Energy Trading Up 0.8 %

DVN opened at $41.12 on Tuesday. Devon Energy Co. has a one year low of $39.02 and a one year 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. The stock has a market cap of $25.99 billion, a price-to-earnings ratio of 7.85, a P/E/G ratio of 1.13 and a beta of 2.03. The stock’s 50 day moving average price is $43.92 and its 200-day moving average price is $47.27.

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

Devon Energy Announces Dividend

The business 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 dividend of $0.22 per share. The ex-dividend date is Friday, September 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.14%. Devon Energy’s payout ratio is 16.79%.

Analyst Ratings Changes

A number of analysts have issued reports on DVN shares. Susquehanna reduced their price target on shares of Devon Energy from $65.00 to $63.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. UBS Group reduced their target price on Devon Energy from $53.00 to $47.00 and set a “neutral” rating on the stock in a report on Wednesday, September 18th. Wolfe Research started coverage on Devon Energy in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Morgan Stanley reduced their price objective on Devon Energy from $55.00 to $51.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. Finally, Wells Fargo & Company lowered their target price on Devon Energy from $57.00 to $55.00 and set an “overweight” rating for the company in a research report on Wednesday, August 14th. Six equities 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 stock. According to MarketBeat, Devon Energy has a consensus rating of “Moderate Buy” and a consensus price target of $57.00.

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.