Vinva Investment Management Ltd Has $10.94 Million Stake in Devon Energy Co. (NYSE:DVN)

Vinva Investment Management Ltd raised its stake in Devon Energy Co. (NYSE:DVN) by 481.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 280,180 shares of the energy company’s stock after buying an additional 231,970 shares during the quarter. Vinva Investment Management Ltd’s holdings in Devon Energy were worth $10,937,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. International Assets Investment Management LLC lifted its position in shares of Devon Energy by 4,125.7% during the third 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. boosted its position in Devon Energy by 16.9% in the third quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company’s stock worth $453,446,000 after purchasing an additional 1,677,652 shares during the last quarter. Los Angeles Capital Management LLC grew its stake 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 valued at $65,234,000 after purchasing an additional 1,357,311 shares during the period. Dimensional Fund Advisors LP grew its stake 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 valued at $416,779,000 after purchasing an additional 1,255,543 shares during the period. Finally, National Bank of Canada FI increased its position in shares of Devon Energy by 447.6% during the 2nd quarter. National Bank of Canada FI now owns 1,179,538 shares of the energy company’s stock valued at $56,299,000 after purchasing an additional 964,147 shares during the last quarter. Institutional investors own 69.72% of the company’s stock.

Wall Street Analysts Forecast Growth

DVN has been the topic of a number of research analyst reports. Evercore ISI dropped their target price 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. StockNews.com downgraded Devon Energy from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Scotiabank lowered their price objective on 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. Truist Financial lowered shares of Devon Energy from a “buy” rating to a “hold” rating and cut their target price for the stock from $49.00 to $43.00 in a research report on Thursday, November 7th. Finally, Barclays dropped their price target on shares of Devon Energy from $55.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 3rd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $51.15.

Devon Energy Stock Performance

NYSE:DVN opened at $37.83 on Thursday. The stock has a market cap of $24.85 billion, a P/E ratio of 7.02, a PEG ratio of 1.21 and a beta of 2.03. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61. The business’s 50-day moving average price is $39.85 and its two-hundred day moving average price is $43.73. Devon Energy Co. has a twelve month low of $37.28 and a twelve month high of $55.09.

Devon Energy (NYSE:DVN) last announced its earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.01. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The business had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same period last year, the firm posted $1.65 earnings per share. Devon Energy’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, equities analysts predict that Devon Energy Co. will post 4.79 EPS for the current fiscal year.

Devon Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend is Friday, December 13th. Devon Energy’s dividend payout ratio is currently 16.33%.

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.