Stolper Co Purchases 2,117 Shares of Devon Energy Co. (NYSE:DVN)

Stolper Co grew its position in Devon Energy Co. (NYSE:DVN) by 1.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 131,242 shares of the energy company’s stock after buying an additional 2,117 shares during the period. Devon Energy makes up 2.2% of Stolper Co’s portfolio, making the stock its 19th largest position. Stolper Co’s holdings in Devon Energy were worth $6,221,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Triad Wealth Partners LLC bought a new stake in shares of Devon Energy in the second quarter worth about $27,000. Manchester Capital Management LLC bought a new stake in Devon Energy during the 4th quarter worth approximately $28,000. Tradewinds Capital Management LLC bought a new stake in Devon Energy during the 1st quarter worth approximately $30,000. Jones Financial Companies Lllp raised 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 period. Finally, 1620 Investment Advisors Inc. bought a new position in Devon Energy in the second quarter valued at approximately $34,000. Institutional investors own 69.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. BMO Capital Markets raised shares of Devon Energy to a “strong-buy” rating in a research report on Wednesday, July 3rd. Sanford C. Bernstein decreased their price objective on Devon Energy from $48.00 to $43.00 and set a “market perform” rating for the company in a report on Wednesday, July 17th. Morgan Stanley boosted their target price on Devon Energy from $52.00 to $54.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. Piper Sandler decreased their price target on shares of Devon Energy from $65.00 to $57.00 and set an “overweight” rating for the company in a research note on Thursday, August 15th. Finally, StockNews.com downgraded shares of Devon Energy from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Six investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Devon Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.81.

Devon Energy Trading Down 0.3 %

DVN stock opened at $39.45 on Friday. Devon Energy Co. has a 52 week low of $39.02 and a 52 week high of $55.09. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.03 and a current ratio of 1.11. The company’s 50-day simple moving average is $44.64 and its 200 day simple moving average is $47.41. The company has a market capitalization of $24.93 billion, a PE ratio of 7.53, a price-to-earnings-growth ratio of 1.13 and a beta of 2.03.

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 return on equity of 29.14% and a net margin of 22.60%. The business had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $3.90 billion. During the same period in the previous year, the company posted $1.18 earnings per share. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Devon Energy Co. will post 5.36 earnings per share for the current year.

Devon Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend is 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.