XTX Topco Ltd Makes New $3.31 Million Investment in Devon Energy Co. (NYSE:DVN)

XTX Topco Ltd acquired a new stake in shares of Devon Energy Co. (NYSE:DVN) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 84,590 shares of the energy company’s stock, valued at approximately $3,309,000.

Other large investors have also added to or reduced their stakes in the company. National Bank of Canada FI grew its position in Devon Energy by 30.7% during the third quarter. National Bank of Canada FI now owns 1,541,200 shares of the energy company’s stock valued at $60,292,000 after acquiring an additional 361,662 shares during the last quarter. iA Global Asset Management Inc. boosted its stake in shares of Devon Energy by 17.2% during the third quarter. iA Global Asset Management Inc. now owns 92,904 shares of the energy company’s stock valued at $3,634,000 after purchasing an additional 13,644 shares during the period. EP Wealth Advisors LLC increased its stake in shares of Devon Energy by 146.3% in the third quarter. EP Wealth Advisors LLC now owns 22,136 shares of the energy company’s stock worth $866,000 after buying an additional 13,150 shares during the period. Kovitz Investment Group Partners LLC raised its stake in shares of Devon Energy by 49.6% during the third quarter. Kovitz Investment Group Partners LLC now owns 47,904 shares of the energy company’s stock valued at $1,874,000 after acquiring an additional 15,891 shares during the last quarter. Finally, Wahed Invest LLC raised its holdings in shares of Devon Energy by 9.0% during the third quarter. Wahed Invest LLC now owns 15,278 shares of the energy company’s stock valued at $598,000 after acquiring an additional 1,261 shares in the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Devon Energy Price Performance

NYSE:DVN opened at $34.98 on Friday. The business’s 50-day moving average is $39.36 and its 200 day moving average is $43.10. Devon Energy Co. has a 12 month low of $34.76 and a 12 month high of $55.09. The company has a market capitalization of $22.98 billion, a P/E ratio of 6.49, a P/E/G ratio of 1.15 and a beta of 1.99. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 earnings per share (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 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 firm earned $1.65 EPS. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, equities research analysts forecast that Devon Energy Co. will post 4.79 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be given a $0.22 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.88 annualized dividend and a yield of 2.52%. Devon Energy’s dividend payout ratio is currently 16.33%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on DVN shares. Scotiabank cut their price objective on shares of Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Citigroup cut their price objective on shares of Devon Energy from $55.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. BMO Capital Markets reduced their price target on Devon Energy from $52.00 to $48.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $57.00 price objective on shares of Devon Energy in a research report on Tuesday, September 3rd. Finally, Wells Fargo & Company decreased their target price on shares of Devon Energy from $50.00 to $49.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $50.75.

Devon Energy 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.