GSA Capital Partners LLP Has $1.36 Million Stake in Devon Energy Co. (NYSE:DVN)

GSA Capital Partners LLP reduced its stake in Devon Energy Co. (NYSE:DVN) by 74.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,740 shares of the energy company’s stock after selling 103,703 shares during the period. GSA Capital Partners LLP’s holdings in Devon Energy were worth $1,359,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Triad Wealth Partners LLC acquired a new stake in shares of Devon Energy during the 2nd quarter worth $27,000. 1620 Investment Advisors Inc. bought a new stake in Devon Energy during the second quarter worth about $34,000. PSI Advisors LLC grew its stake in Devon Energy by 66.7% during the second quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock worth $36,000 after buying an additional 300 shares in the last quarter. LRI Investments LLC bought a new position in Devon Energy in the 1st quarter valued at about $39,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of Devon Energy in the 3rd quarter valued at approximately $35,000. Institutional investors own 69.72% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on DVN. Benchmark reiterated a “hold” rating on shares of Devon Energy in a research report on Tuesday, October 15th. Susquehanna decreased their price target on Devon Energy from $63.00 to $62.00 and set a “positive” rating on the stock in a research note on Friday, October 18th. Wells Fargo & Company dropped their price objective on Devon Energy from $50.00 to $49.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. Truist Financial cut Devon Energy from a “buy” rating to a “hold” rating and decreased their target price for the company from $49.00 to $43.00 in a research report on Thursday, November 7th. Finally, Barclays dropped 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 report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Devon Energy presently has an average rating of “Hold” and a consensus target price of $51.80.

Devon Energy Trading Up 2.0 %

NYSE DVN opened at $39.10 on Thursday. Devon Energy Co. has a 12 month low of $37.76 and a 12 month high of $55.09. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $25.68 billion, a PE ratio of 7.25, a price-to-earnings-growth ratio of 1.19 and a beta of 2.03. The business’s 50-day moving average price is $40.20 and its two-hundred day moving average price is $44.55.

Devon Energy (NYSE:DVN) last announced its earnings results on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, beating 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 business had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.72 billion. During the same period in the prior year, the business posted $1.65 earnings per share. The firm’s revenue was up 4.9% on a year-over-year basis. On average, analysts expect that Devon Energy Co. will post 4.86 EPS for the current year.

Devon Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend is Friday, December 13th. Devon Energy’s dividend payout ratio (DPR) is presently 16.33%.

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.