Devon Energy Co. (NYSE:DVN) Shares Sold by Westwood Holdings Group Inc.

Westwood Holdings Group Inc. reduced its stake in shares of Devon Energy Co. (NYSE:DVN) by 71.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,811 shares of the energy company’s stock after selling 34,826 shares during the period. Westwood Holdings Group Inc.’s holdings in Devon Energy were worth $655,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in Devon Energy by 3.5% during the first quarter. Vanguard Group Inc. now owns 76,457,056 shares of the energy company’s stock worth $3,836,615,000 after buying an additional 2,559,039 shares in the last quarter. Pacer Advisors Inc. increased its position in Devon Energy by 16.8% during the 2nd quarter. Pacer Advisors Inc. now owns 9,913,516 shares of the energy company’s stock worth $469,901,000 after purchasing an additional 1,428,776 shares in the last quarter. Los Angeles Capital Management LLC increased its position in Devon Energy by 7,165.6% during the 2nd quarter. Los Angeles Capital Management LLC now owns 1,376,253 shares of the energy company’s stock worth $65,234,000 after purchasing an additional 1,357,311 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Devon Energy by 16.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,793,217 shares of the energy company’s stock valued at $416,779,000 after purchasing an additional 1,255,543 shares during the last quarter. Finally, National Bank of Canada FI lifted its holdings in Devon Energy by 447.6% in the 2nd quarter. National Bank of Canada FI now owns 1,179,538 shares of the energy company’s stock valued at $56,299,000 after purchasing an additional 964,147 shares in the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

DVN has been the subject of a number of recent research reports. Wolfe Research initiated coverage on shares of Devon Energy in a report on Thursday, July 18th. They set a “peer perform” rating for the company. 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. Truist Financial decreased their price objective on Devon Energy from $67.00 to $64.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Wells Fargo & Company dropped their target price on Devon Energy from $57.00 to $55.00 and set an “overweight” rating for the company in a research note on Wednesday, August 14th. Finally, Morgan Stanley decreased their price target on Devon Energy from $55.00 to $51.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. Six investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.00.

Devon Energy Trading Down 0.4 %

NYSE DVN opened at $40.79 on Monday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.03 and a current ratio of 1.11. Devon Energy Co. has a one year low of $39.02 and a one year high of $55.09. The company’s 50 day moving average price is $44.06 and its 200 day moving average price is $47.30. The firm has a market capitalization 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 posted its earnings results on Tuesday, August 6th. The energy company reported $1.41 earnings per share for the quarter, beating 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 business had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.90 billion. During the same quarter in the previous year, the business posted $1.18 EPS. The business’s quarterly revenue was up 13.4% on a year-over-year basis. On average, sell-side analysts predict that Devon Energy Co. will post 5.36 EPS for the current year.

Devon Energy Dividend Announcement

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

Devon Energy Company 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.