VitalStone Financial LLC Has $96,000 Stock Holdings in Devon Energy Co. (NYSE:DVN)

VitalStone Financial LLC lessened its holdings in Devon Energy Co. (NYSE:DVN) by 41.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,452 shares of the energy company’s stock after selling 1,708 shares during the period. VitalStone Financial LLC’s holdings in Devon Energy were worth $96,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Triad Wealth Partners LLC bought a new stake in Devon Energy during the second quarter worth about $27,000. Tradewinds Capital Management LLC bought a new stake in Devon Energy during the first quarter worth about $30,000. 1620 Investment Advisors Inc. bought a new stake in shares of Devon Energy during the second quarter valued at approximately $34,000. PSI Advisors LLC grew 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 purchasing an additional 300 shares during the last quarter. Finally, LRI Investments LLC bought a new stake in shares of Devon Energy during the first quarter valued at approximately $39,000. 69.72% of the stock is owned by institutional investors.

Devon Energy Trading Down 0.2 %

Shares of NYSE:DVN opened at $42.89 on Tuesday. Devon Energy Co. has a 12 month low of $37.76 and a 12 month high of $55.09. The company has a quick ratio of 1.03, a current ratio of 1.11 and a debt-to-equity ratio of 0.45. The company’s fifty day simple moving average is $42.40 and its 200 day simple moving average is $46.53. The firm has a market cap of $27.11 billion, a price-to-earnings ratio of 8.19, a PEG ratio of 1.27 and a beta of 2.02.

Devon Energy (NYSE:DVN) last issued its quarterly 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 net margin of 22.60% and a return on equity of 29.14%. The firm had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.90 billion. During the same period in the previous year, the business earned $1.18 EPS. The company’s revenue was up 13.4% compared to the same quarter last year. As a group, research analysts forecast that Devon Energy Co. will post 5.01 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The firm also recently declared 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 was Friday, September 13th. This represents a $0.88 annualized dividend and a yield of 2.05%. Devon Energy’s payout ratio is currently 16.79%.

Wall Street Analyst Weigh In

DVN has been the topic of several research analyst reports. Truist Financial decreased their price target 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, September 30th. Morgan Stanley decreased their price target on shares of Devon Energy from $55.00 to $51.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. Scotiabank decreased their price target on shares of Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Evercore ISI decreased 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 note on Monday, September 30th. Finally, JPMorgan Chase & Co. reduced their price objective 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. Eight investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Devon Energy currently has an average rating of “Moderate Buy” and a consensus price target of $52.63.

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.