B. Riley Wealth Advisors Inc. Grows Position in Devon Energy Co. (NYSE:DVN)

B. Riley Wealth Advisors Inc. lifted its stake in Devon Energy Co. (NYSE:DVN) by 41.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 107,883 shares of the energy company’s stock after buying an additional 31,668 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Devon Energy were worth $5,114,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in DVN. Triad Wealth Partners LLC purchased a new position in Devon Energy during the second quarter valued at approximately $27,000. Tradewinds Capital Management LLC purchased a new stake in Devon Energy in the 1st quarter worth $30,000. Jones Financial Companies Lllp raised its holdings in Devon Energy by 104.8% during the fourth quarter. Jones Financial Companies Lllp now owns 731 shares of the energy company’s stock valued at $33,000 after acquiring an additional 374 shares during the period. 1620 Investment Advisors Inc. purchased a new position in shares of Devon Energy in the second quarter valued at about $34,000. Finally, PSI Advisors LLC boosted its stake in shares of Devon Energy by 66.7% in 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 owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Evercore ISI lowered their price target on Devon Energy from $55.00 to $50.00 and set an “in-line” rating on the stock in a report on Monday. Truist Financial dropped 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 report on Monday. Wolfe Research assumed coverage on shares of Devon Energy in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Sanford C. Bernstein decreased their price target on shares of Devon Energy from $48.00 to $43.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 17th. Finally, Morgan Stanley cut 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. Seven 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. Based on data from MarketBeat, Devon Energy currently has an average rating of “Moderate Buy” and a consensus target price of $55.71.

Devon Energy Price Performance

Devon Energy stock opened at $39.12 on Tuesday. The firm has a market capitalization of $24.72 billion, a PE ratio of 7.47, a price-to-earnings-growth ratio of 1.22 and a beta of 2.03. Devon Energy Co. has a 12-month low of $37.76 and a 12-month high of $55.09. The firm has a 50-day moving average price of $43.06 and a 200-day moving average price of $47.00. The company has a current ratio of 1.11, a quick ratio of 1.03 and a debt-to-equity ratio of 0.45.

Devon Energy (NYSE:DVN) last announced its 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 analyst estimates of $3.90 billion. During the same quarter in the previous year, the business earned $1.18 earnings per share. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. As a group, equities research analysts forecast that Devon Energy Co. will post 5.11 EPS for the current year.

Devon Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were paid a $0.22 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.25%. Devon Energy’s payout ratio 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.