Devon Energy Co. (NYSE:DVN) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado lessened its stake in Devon Energy Co. (NYSE:DVN) by 2.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 90,169 shares of the energy company’s stock after selling 2,193 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Devon Energy were worth $4,274,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Triad Wealth Partners LLC acquired a new position in Devon Energy in the 2nd quarter valued at about $27,000. Tradewinds Capital Management LLC purchased a new stake in Devon Energy in the 1st quarter valued at approximately $30,000. Jones Financial Companies Lllp boosted its holdings in Devon Energy by 104.8% in the 4th quarter. Jones Financial Companies Lllp now owns 731 shares of the energy company’s stock valued at $33,000 after purchasing an additional 374 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new stake in Devon Energy in the 2nd quarter valued at approximately $34,000. Finally, PSI Advisors LLC boosted 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 valued at $36,000 after purchasing an additional 300 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Stock Down 0.4 %

Shares of NYSE DVN opened at $40.79 on Monday. The company has a current ratio of 1.11, a quick ratio of 1.03 and a debt-to-equity ratio of 0.45. The stock has a fifty day moving average price of $44.06 and a 200 day moving average price of $47.30. The company has a market cap of $25.78 billion, a P/E ratio of 7.78, a P/E/G ratio of 1.13 and a beta of 2.03. Devon Energy Co. has a 12-month low of $39.02 and a 12-month high of $55.09.

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

Devon Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be given 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 payout ratio is currently 16.79%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Scotiabank decreased their price target on Devon Energy from $67.00 to $60.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. JPMorgan Chase & Co. cut their price target on Devon Energy from $64.00 to $51.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. Bank of America reiterated a “buy” rating and issued a $64.00 price target on shares of Devon Energy in a report on Friday, June 14th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $57.00 price target on shares of Devon Energy in a report on Tuesday, September 3rd. Finally, Truist Financial cut their price target on Devon Energy from $67.00 to $64.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Six equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Devon Energy presently 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.