1,000 Shares in Devon Energy Co. (NYSE:DVN) Bought by Future Financial Wealth Managment LLC

Future Financial Wealth Managment LLC bought a new position in shares of Devon Energy Co. (NYSE:DVN) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,000 shares of the energy company’s stock, valued at approximately $39,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DVN. DRW Securities LLC boosted its position in shares of Devon Energy by 152.8% during the fourth quarter. DRW Securities LLC now owns 50,561 shares of the energy company’s stock worth $2,290,000 after acquiring an additional 30,561 shares during the last quarter. Hobbs Group Advisors LLC purchased a new position in shares of Devon Energy in the 4th quarter valued at $700,000. Chelsea Counsel Co. raised its position in shares of Devon Energy by 223.8% in the 4th quarter. Chelsea Counsel Co. now owns 30,860 shares of the energy company’s stock worth $1,398,000 after acquiring an additional 21,330 shares in the last quarter. WNY Asset Management LLC lifted its stake in shares of Devon Energy by 3.6% during the 4th quarter. WNY Asset Management LLC now owns 23,047 shares of the energy company’s stock worth $1,044,000 after purchasing an additional 800 shares during the last quarter. Finally, Wealth Forward LLC bought a new stake in Devon Energy during the fourth quarter valued at about $296,000. Institutional investors own 69.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. 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 report on Thursday, August 15th. Morgan Stanley lowered their target price on shares of Devon Energy from $55.00 to $51.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Barclays reduced their price target 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. Evercore ISI lowered their price objective on Devon Energy from $55.00 to $50.00 and set an “in-line” rating for the company in a research report on Monday, September 30th. Finally, Wells Fargo & Company reduced their target price on Devon Energy from $55.00 to $50.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 1st. Eight investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $52.63.

Devon Energy Price Performance

NYSE:DVN opened at $42.87 on Friday. Devon Energy Co. has a one year low of $37.76 and a one year 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 firm has a market cap of $27.09 billion, a price-to-earnings ratio of 8.18, a PEG ratio of 1.22 and a beta of 2.02. The firm’s fifty day moving average is $42.36 and its two-hundred day moving average is $46.66.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, August 6th. The energy company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.26 by $0.15. Devon Energy had a net margin of 22.60% and a return on equity of 29.14%. The company had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.90 billion. During the same period in the prior year, the company earned $1.18 earnings per share. The firm’s revenue was up 13.4% on a year-over-year basis. Research analysts expect that Devon Energy Co. will post 5.11 EPS for the current year.

Devon Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were given a $0.22 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.05%. Devon Energy’s dividend payout ratio (DPR) is currently 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.