Sage Capital Advisors llc grew its position in shares of Devon Energy Co. (NYSE:DVN – Free Report) by 9.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,999 shares of the energy company’s stock after buying an additional 495 shares during the quarter. Sage Capital Advisors llc’s holdings in Devon Energy were worth $235,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Triad Wealth Partners LLC acquired a new stake in Devon Energy in the 2nd quarter worth approximately $27,000. Tradewinds Capital Management LLC acquired a new stake in Devon Energy in the 1st quarter worth approximately $30,000. 1620 Investment Advisors Inc. acquired a new stake in Devon Energy in the 2nd quarter worth approximately $34,000. PSI Advisors LLC lifted its holdings in Devon Energy by 66.7% in the 2nd quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock worth $36,000 after purchasing an additional 300 shares during the last quarter. Finally, LRI Investments LLC acquired a new stake in Devon Energy in the 1st quarter worth approximately $39,000. 69.72% of the stock is currently owned by institutional investors and hedge funds.
Devon Energy Stock Performance
Shares of NYSE:DVN opened at $41.67 on Wednesday. The business’s fifty day moving average price is $42.51 and its two-hundred day moving average price is $46.72. Devon Energy Co. has a fifty-two week low of $37.76 and a fifty-two week high of $55.09. The stock has a market capitalization of $26.34 billion, a price-to-earnings ratio of 7.95, a price-to-earnings-growth ratio of 1.22 and a beta of 2.02. 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 Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend was Friday, September 13th. Devon Energy’s dividend payout ratio is currently 16.79%.
Wall Street Analyst Weigh In
DVN has been the subject of a number of research analyst reports. Jefferies Financial Group initiated coverage on Devon Energy in a report on Thursday, October 3rd. They set a “hold” rating and a $45.00 price target for the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $57.00 price target on shares of Devon Energy in a report on Tuesday, September 3rd. Bank of America reiterated a “buy” rating and set a $64.00 price target on shares of Devon Energy in a report on Friday, June 14th. Susquehanna cut their price target on Devon Energy from $65.00 to $63.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Finally, BMO Capital Markets cut their price target on Devon Energy from $52.00 to $48.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Eight analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.79.
Read Our Latest Analysis on Devon Energy
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.
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