Devon Energy Co. (NYSE:DVN) Stake Boosted by San Luis Wealth Advisors LLC

San Luis Wealth Advisors LLC lifted its stake in shares of Devon Energy Co. (NYSE:DVN) by 132.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,195 shares of the energy company’s stock after purchasing an additional 8,086 shares during the quarter. San Luis Wealth Advisors LLC’s holdings in Devon Energy were worth $555,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Devon Energy by 3.5% during the first quarter. Vanguard Group Inc. now owns 76,457,056 shares of the energy company’s stock worth $3,836,615,000 after purchasing an additional 2,559,039 shares in the last quarter. Pacer Advisors Inc. raised 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 worth $469,901,000 after buying an additional 1,428,776 shares in the last quarter. Raymond James & Associates lifted its holdings in shares of Devon Energy by 1.5% in the second quarter. Raymond James & Associates now owns 9,183,778 shares of the energy company’s stock valued at $435,311,000 after buying an additional 138,919 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Devon Energy by 16.7% in the second quarter. Dimensional Fund Advisors LP now owns 8,793,217 shares of the energy company’s stock valued at $416,779,000 after buying an additional 1,255,543 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in shares of Devon Energy by 15.9% in the 2nd quarter. Thrivent Financial for Lutherans now owns 5,094,017 shares of the energy company’s stock valued at $241,456,000 after acquiring an additional 699,743 shares in the last quarter. 69.72% of the stock is owned by institutional investors and hedge funds.

Devon Energy Price Performance

Shares of Devon Energy stock opened at $42.87 on Friday. Devon Energy Co. has a 1-year low of $37.76 and a 1-year high of $55.09. The firm’s 50-day moving average price is $42.36 and its two-hundred day moving average price is $46.66. The company has a current ratio of 1.11, a quick ratio of 1.03 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $26.85 billion, a price-to-earnings ratio of 7.78, a P/E/G ratio of 1.27 and a beta of 2.02.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, August 6th. The energy company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.15. The firm had revenue of $3.92 billion during 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 business’s revenue was up 13.4% on a year-over-year basis. During the same period last year, the firm posted $1.18 EPS. On average, equities analysts predict that Devon Energy Co. will post 5.01 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.88 annualized dividend and a yield of 2.05%. Devon Energy’s dividend payout ratio (DPR) is 15.97%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. UBS Group lowered their price objective on Devon Energy from $53.00 to $47.00 and set a “neutral” rating on the stock in a report on Wednesday, September 18th. Barclays reduced their target price on shares of Devon Energy from $55.00 to $46.00 and set an “equal weight” rating for the company in a research note on Thursday, October 3rd. Jefferies Financial Group started coverage on Devon Energy in a research report on Thursday, October 3rd. They set a “hold” rating and a $45.00 target price on the stock. Truist Financial cut their price target on Devon Energy from $60.00 to $49.00 and set a “buy” rating for the company in a report on Monday, September 30th. Finally, Morgan Stanley decreased their price objective on Devon Energy from $55.00 to $51.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Eight investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $52.63.

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.