Devon Energy Co. (NYSE:DVN) Shares Sold by Anchor Investment Management LLC

Anchor Investment Management LLC lowered its holdings in Devon Energy Co. (NYSE:DVN) by 36.2% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,764 shares of the energy company’s stock after selling 999 shares during the period. Anchor Investment Management LLC’s holdings in Devon Energy were worth $84,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in DVN. Triad Wealth Partners LLC purchased a new stake in shares of Devon Energy during the second quarter worth $27,000. Tradewinds Capital Management LLC purchased a new stake in Devon Energy during the 1st quarter worth about $30,000. 1620 Investment Advisors Inc. purchased a new stake in Devon Energy during the 2nd quarter worth about $34,000. Jones Financial Companies Lllp raised its position 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. Finally, PSI Advisors LLC boosted its stake 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 buying an additional 300 shares during the period. 69.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on DVN shares. JPMorgan Chase & Co. cut their target price on shares of Devon Energy from $64.00 to $51.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. UBS Group reduced their price objective on shares of Devon Energy from $53.00 to $47.00 and set a “neutral” rating on the stock in a report on Wednesday, September 18th. Truist Financial dropped their target price on Devon Energy from $60.00 to $49.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Evercore ISI decreased their price target on Devon Energy from $55.00 to $50.00 and set an “in-line” rating for the company in a report on Monday, September 30th. Finally, Jefferies Financial Group started coverage on Devon Energy in a research report on Thursday. They set a “hold” rating and a $45.00 price objective for the company. Eight equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $53.79.

Devon Energy Price Performance

Shares of DVN opened at $42.41 on Friday. The company has a market capitalization of $26.80 billion, a price-to-earnings ratio of 8.09, a price-to-earnings-growth ratio of 1.22 and a beta of 2.02. Devon Energy Co. has a fifty-two week low of $37.76 and a fifty-two week high of $55.09. The firm has a 50-day simple moving average of $42.74 and a 200-day simple moving average of $46.87. 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 (NYSE:DVN) last announced 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 return on equity of 29.14% and a net margin of 22.60%. The company had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $3.90 billion. During the same period last year, the business posted $1.18 EPS. The company’s revenue was up 13.4% on a year-over-year basis. On average, equities research analysts anticipate that Devon Energy Co. will post 5.11 earnings per share for the current year.

Devon Energy Dividend Announcement

The company also recently announced 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 annualized dividend and a dividend yield of 2.07%. The ex-dividend date was Friday, September 13th. Devon Energy’s dividend payout ratio (DPR) is presently 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.