Resources Management Corp CT ADV Purchases 545 Shares of Devon Energy Co. (NYSE:DVN)

Resources Management Corp CT ADV grew its position in shares of Devon Energy Co. (NYSE:DVN) by 3.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,190 shares of the energy company’s stock after purchasing an additional 545 shares during the quarter. Resources Management Corp CT ADV’s holdings in Devon Energy were worth $594,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. M&T Bank Corp grew its position in Devon Energy by 3.1% during the 3rd quarter. M&T Bank Corp now owns 34,801 shares of the energy company’s stock worth $1,361,000 after acquiring an additional 1,040 shares during the last quarter. Gordian Capital Singapore Pte Ltd grew its position in Devon Energy by 25.3% during the 3rd quarter. Gordian Capital Singapore Pte Ltd now owns 18,800 shares of the energy company’s stock worth $735,000 after acquiring an additional 3,800 shares during the last quarter. Peloton Wealth Strategists grew its position in Devon Energy by 17.4% during the 3rd quarter. Peloton Wealth Strategists now owns 31,935 shares of the energy company’s stock worth $1,249,000 after acquiring an additional 4,727 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its position in shares of Devon Energy by 4.6% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 284,334 shares of the energy company’s stock worth $11,123,000 after buying an additional 12,503 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd grew its position in shares of Devon Energy by 30.0% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 100,225 shares of the energy company’s stock worth $3,921,000 after buying an additional 23,135 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors.

Devon Energy Stock Down 2.2 %

DVN stock opened at $34.73 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01. Devon Energy Co. has a 1-year low of $34.69 and a 1-year high of $55.09. The stock has a market capitalization of $22.81 billion, a P/E ratio of 6.44, a P/E/G ratio of 1.11 and a beta of 1.99. The business has a fifty day moving average price of $39.18 and a 200-day moving average price of $42.83.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, topping the consensus estimate of $1.09 by $0.01. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The company had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same quarter in the previous year, the company posted $1.65 earnings per share. Devon Energy’s revenue was up 4.9% compared to the same quarter last year. Equities analysts forecast that Devon Energy Co. will post 4.79 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, December 13th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.53%. The ex-dividend date is Friday, December 13th. Devon Energy’s payout ratio is currently 16.33%.

Wall Street Analyst Weigh In

DVN has been the topic of a number of recent analyst reports. UBS Group cut their price objective on Devon Energy from $53.00 to $47.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 18th. Barclays cut their price objective on Devon Energy from $55.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. Wells Fargo & Company cut their price objective on Devon Energy from $50.00 to $49.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Mizuho cut their price objective on Devon Energy from $53.00 to $51.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 9th. Finally, Piper Sandler raised their target price on Devon Energy from $56.00 to $57.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $50.75.

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.