Devon Energy Co. (NYSE:DVN) Stake Increased by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. raised its stake in shares of Devon Energy Co. (NYSE:DVN) by 13.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,610 shares of the energy company’s stock after acquiring an additional 4,933 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Devon Energy were worth $1,972,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Triad Wealth Partners LLC bought a new position in shares of Devon Energy during the second quarter worth about $27,000. Tradewinds Capital Management LLC acquired a new stake in Devon Energy during the first quarter valued at approximately $30,000. Jones Financial Companies Lllp lifted its holdings in Devon Energy by 104.8% during the 4th quarter. Jones Financial Companies Lllp now owns 731 shares of the energy company’s stock worth $33,000 after buying an additional 374 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new position in shares of Devon Energy in the 2nd quarter worth approximately $34,000. Finally, PSI Advisors LLC increased its holdings in shares of 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 acquiring an additional 300 shares during the last quarter. 69.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. BMO Capital Markets reduced their price objective on Devon Energy from $52.00 to $48.00 and set an “outperform” rating on the stock in a research note on Friday. Evercore ISI reduced their price target on shares of Devon Energy from $55.00 to $50.00 and set an “in-line” rating on the stock in a research report on Monday, September 30th. StockNews.com lowered shares of Devon Energy from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Royal Bank of Canada restated a “sector perform” rating and issued a $57.00 target price on shares of Devon Energy in a research note on Tuesday, September 3rd. Finally, Sanford C. Bernstein dropped their price target on Devon Energy from $48.00 to $43.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 17th. Eight analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $53.79.

Devon Energy Stock Up 1.5 %

Devon Energy stock opened at $42.41 on Friday. Devon Energy Co. has a 52 week low of $37.76 and a 52 week high of $55.09. The stock has a market cap of $26.80 billion, a price-to-earnings ratio of 8.06, a PEG ratio of 1.22 and a beta of 2.02. The company’s 50-day moving average price is $42.74 and its two-hundred day moving average price is $46.87. 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 posted its quarterly earnings data on Tuesday, August 6th. The energy company reported $1.41 EPS 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 analyst estimates of $3.90 billion. Devon Energy had a net margin of 22.60% and a return on equity of 29.14%. The business’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter last year, the business earned $1.18 earnings per share. On average, analysts expect that Devon Energy Co. will post 5.11 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend was Friday, September 13th. Devon Energy’s dividend payout ratio is presently 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.