Vontobel Holding Ltd. Decreases Stock Holdings in Devon Energy Co. (NYSE:DVN)

Vontobel Holding Ltd. lowered its position in Devon Energy Co. (NYSE:DVN) by 70.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,536 shares of the energy company’s stock after selling 25,214 shares during the period. Vontobel Holding Ltd.’s holdings in Devon Energy were worth $412,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Triad Wealth Partners LLC purchased a new position in shares of Devon Energy in the 2nd quarter valued at approximately $27,000. Tradewinds Capital Management LLC acquired a new stake in shares of Devon Energy during the first quarter worth $30,000. 1620 Investment Advisors Inc. purchased a new stake in shares of Devon Energy during the second quarter valued at $34,000. PSI Advisors LLC increased its position in shares of Devon Energy by 66.7% in the 2nd quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock valued at $36,000 after acquiring an additional 300 shares during the period. Finally, LRI Investments LLC acquired a new stake in Devon Energy during the 1st quarter worth about $39,000. Institutional investors own 69.72% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on DVN shares. Jefferies Financial Group began coverage on shares of Devon Energy in a research note on Thursday, October 3rd. They set a “hold” rating and a $45.00 price objective for the company. BMO Capital Markets reduced their price objective on Devon Energy from $52.00 to $48.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Benchmark reaffirmed a “hold” rating on shares of Devon Energy in a report on Tuesday, October 15th. Evercore ISI dropped their price objective on shares of Devon Energy from $55.00 to $50.00 and set an “in-line” rating on the stock in a research note on Monday, September 30th. Finally, Truist Financial decreased their target price on shares of Devon Energy from $60.00 to $49.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Nine investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $52.53.

Devon Energy Trading Up 0.2 %

Shares of DVN opened at $40.17 on Wednesday. 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 Co. has a 12 month low of $37.76 and a 12 month high of $55.09. The stock has a market cap of $25.39 billion, a PE ratio of 7.67, a P/E/G ratio of 1.27 and a beta of 2.02. The stock’s 50-day moving average is $42.05 and its two-hundred day moving average is $46.14.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, August 6th. The energy company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.15. Devon Energy had a net margin of 22.60% and a return on equity of 29.14%. The firm had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $3.90 billion. During the same quarter in the previous year, the firm posted $1.18 EPS. The firm’s quarterly revenue was up 13.4% on a year-over-year basis. Equities analysts forecast that Devon Energy Co. will post 5.01 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend was Friday, September 13th. Devon Energy’s dividend payout ratio (DPR) is 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.