JFS Wealth Advisors LLC Increases Position in Devon Energy Co. (NYSE:DVN)

JFS Wealth Advisors LLC lifted its holdings in Devon Energy Co. (NYSE:DVN) by 93.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,669 shares of the energy company’s stock after purchasing an additional 805 shares during the period. JFS Wealth Advisors LLC’s holdings in Devon Energy were worth $65,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of DVN. Vanguard Group Inc. increased its stake in shares of Devon Energy by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 76,457,056 shares of the energy company’s stock valued at $3,836,615,000 after purchasing an additional 2,559,039 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of Devon Energy by 4,125.7% in the 3rd quarter. International Assets Investment Management LLC now owns 2,280,961 shares of the energy company’s stock valued at $89,231,000 after purchasing an additional 2,226,983 shares in the last quarter. Pacer Advisors Inc. increased its stake in shares of Devon Energy by 16.8% in the 2nd quarter. Pacer Advisors Inc. now owns 9,913,516 shares of the energy company’s stock valued at $469,901,000 after purchasing an additional 1,428,776 shares in the last quarter. Los Angeles Capital Management LLC boosted its holdings in Devon Energy by 7,165.6% in the 2nd quarter. Los Angeles Capital Management LLC now owns 1,376,253 shares of the energy company’s stock worth $65,234,000 after buying an additional 1,357,311 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Devon Energy by 16.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,793,217 shares of the energy company’s stock worth $416,779,000 after buying an additional 1,255,543 shares during the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on DVN shares. Barclays lowered their price objective on Devon Energy from $55.00 to $46.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. Piper Sandler lowered their price objective on Devon Energy from $57.00 to $56.00 and set an “overweight” rating on the stock in a report on Tuesday, October 15th. Truist Financial lowered their price objective on Devon Energy from $60.00 to $49.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Benchmark reiterated a “hold” rating on shares of Devon Energy in a report on Tuesday, October 15th. Finally, Jefferies Financial Group started coverage on Devon Energy in a report on Thursday, October 3rd. They issued a “hold” rating and a $45.00 price objective on the stock. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $52.53.

Devon Energy Trading Down 0.9 %

DVN opened at $38.32 on Friday. Devon Energy Co. has a one year low of $37.76 and a one year high of $55.09. The stock has a market capitalization of $24.00 billion, a PE ratio of 6.95, a P/E/G ratio of 1.18 and a beta of 2.02. The business’s 50 day moving average price is $41.04 and its 200 day moving average price is $45.33. 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 released 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 firm had revenue of $3.92 billion for the quarter, compared to analysts’ expectations of $3.90 billion. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. The firm’s quarterly revenue was up 13.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.18 earnings per share. As a group, equities research analysts expect that Devon Energy Co. will post 4.93 EPS for the current year.

Devon Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date was Friday, September 13th. Devon Energy’s payout ratio is 15.97%.

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.