Devon Energy Co. (NYSE:DVN) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lowered its position in Devon Energy Co. (NYSE:DVN) by 0.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 321,294 shares of the energy company’s stock after selling 1,429 shares during the quarter. Teachers Retirement System of The State of Kentucky owned about 0.05% of Devon Energy worth $15,229,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Triad Wealth Partners LLC acquired a new position in shares of Devon Energy during the second quarter valued at approximately $27,000. Tradewinds Capital Management LLC acquired a new position in shares of Devon Energy during the first quarter valued at approximately $30,000. Jones Financial Companies Lllp increased its stake in shares of 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. acquired a new position in shares of Devon Energy during the second quarter valued at approximately $34,000. Finally, PSI Advisors LLC increased its stake 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 valued at $36,000 after acquiring an additional 300 shares during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.

Analyst Upgrades and Downgrades

DVN has been the topic of a number of research analyst reports. Truist Financial lowered their price objective on shares of Devon Energy from $60.00 to $49.00 and set a “buy” rating on the stock in a research note on Monday. Bank of America restated a “buy” rating and set a $64.00 target price on shares of Devon Energy in a report on Friday, June 14th. Piper Sandler reduced their target price on shares of Devon Energy from $65.00 to $57.00 and set an “overweight” rating for the company in a report on Thursday, August 15th. 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 report on Wednesday, September 4th. Finally, BMO Capital Markets upgraded shares of Devon Energy to a “strong-buy” rating in a report on Wednesday, July 3rd. Seven investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $55.41.

Devon Energy Trading Up 1.7 %

Shares of NYSE:DVN opened at $39.77 on Wednesday. The firm has a market capitalization of $25.13 billion, a P/E ratio of 7.59, a price-to-earnings-growth ratio of 1.22 and a beta of 2.03. The firm has a fifty day moving average of $42.93 and a two-hundred day moving average of $46.95. 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 $37.76 and a 12-month high of $55.09.

Devon Energy (NYSE:DVN) last released its quarterly earnings results 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 business had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $3.90 billion. Devon Energy had a net margin of 22.60% and a return on equity of 29.14%. Devon Energy’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.18 EPS. On average, equities analysts expect that Devon Energy Co. will post 5.11 EPS for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.21%. Devon Energy’s dividend payout ratio is currently 16.79%.

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.