15,000 Shares in Devon Energy Co. (NYSE:DVN) Acquired by Gordian Capital Singapore Pte Ltd

Gordian Capital Singapore Pte Ltd acquired a new stake in Devon Energy Co. (NYSE:DVN) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 15,000 shares of the energy company’s stock, valued at approximately $711,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Triad Wealth Partners LLC bought a new stake in Devon Energy during the 2nd quarter worth about $27,000. Tradewinds Capital Management LLC bought a new stake in shares of Devon Energy in the 1st quarter valued at $30,000. Jones Financial Companies Lllp raised its stake in Devon Energy by 104.8% during the 4th quarter. Jones Financial Companies Lllp now owns 731 shares of the energy company’s stock worth $33,000 after buying an additional 374 shares during the period. 1620 Investment Advisors Inc. acquired a new stake in Devon Energy during the 2nd quarter worth $34,000. Finally, PSI Advisors LLC lifted its holdings in Devon Energy by 66.7% during the second quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock worth $36,000 after acquiring an additional 300 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Stock Up 1.7 %

DVN stock opened at $39.77 on Wednesday. The business’s fifty day moving average price is $42.93 and its two-hundred day moving average price is $46.95. The stock has a market capitalization of $25.13 billion, a price-to-earnings ratio of 7.59, a PEG ratio of 1.22 and a beta of 2.03. Devon Energy Co. has a fifty-two week low of $37.76 and a fifty-two week high of $55.09. 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 issued its quarterly earnings results 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 company had revenue of $3.92 billion for the quarter, compared to analysts’ expectations of $3.90 billion. During the same quarter last year, the business earned $1.18 earnings per share. Devon Energy’s revenue was up 13.4% on a year-over-year basis. On average, equities analysts anticipate that Devon Energy Co. will post 5.11 earnings per share for the current year.

Devon Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date was Friday, September 13th. Devon Energy’s dividend payout ratio is 16.79%.

Analyst Ratings Changes

Several brokerages have issued reports on DVN. UBS Group lowered their price target on Devon Energy from $53.00 to $47.00 and set a “neutral” rating for the company in a report on Wednesday, September 18th. Scotiabank dropped 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 report on Friday, July 12th. Truist Financial cut their price target on shares of Devon Energy from $60.00 to $49.00 and set a “buy” rating on the stock in a research note on Monday. Susquehanna dropped their price objective 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. Finally, BMO Capital Markets raised shares of Devon Energy to a “strong-buy” rating in a research note on Wednesday, July 3rd. Seven equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $55.41.

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.