Mercer Global Advisors Inc. ADV Purchases 2,384 Shares of Devon Energy Co. (NYSE:DVN)

Mercer Global Advisors Inc. ADV increased its holdings in shares of Devon Energy Co. (NYSE:DVN) by 2.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 104,754 shares of the energy company’s stock after buying an additional 2,384 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Devon Energy were worth $4,958,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Triad Wealth Partners LLC bought a new position in shares of Devon Energy during the 2nd quarter valued at about $27,000. Tradewinds Capital Management LLC bought a new position in Devon Energy in the first quarter valued at approximately $30,000. Jones Financial Companies Lllp boosted its holdings in shares of Devon Energy by 104.8% in the fourth 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 during the period. 1620 Investment Advisors Inc. bought a new stake in shares of Devon Energy during the second quarter worth $34,000. Finally, PSI Advisors LLC raised its holdings in shares of 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 during the period. 69.72% of the stock is currently owned by institutional investors.

Devon Energy Stock Performance

DVN opened at $40.79 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.11 and a debt-to-equity ratio of 0.45. Devon Energy Co. has a 12-month low of $39.02 and a 12-month high of $55.09. The business has a 50 day moving average of $44.06 and a 200-day moving average of $47.29. The stock has a market cap of $25.78 billion, a price-to-earnings ratio of 7.78, a PEG ratio of 1.13 and a beta of 2.03.

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

Devon Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.16%. Devon Energy’s dividend payout ratio (DPR) is currently 16.79%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on DVN shares. Susquehanna reduced their target price on shares of Devon Energy from $65.00 to $63.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. Morgan Stanley reduced their price objective on Devon Energy from $55.00 to $51.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Bank of America reissued a “buy” rating and issued a $64.00 target price on shares of Devon Energy in a research report on Friday, June 14th. JPMorgan Chase & Co. reduced their price target on Devon Energy from $64.00 to $51.00 and set an “overweight” rating for the company in a research report on Thursday, September 12th. Finally, Scotiabank lowered their price objective 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. Six 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’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $57.00.

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.