27,760 Shares in Devon Energy Co. (NYSE:DVN) Acquired by Everence Capital Management Inc.

Everence Capital Management Inc. acquired a new stake in Devon Energy Co. (NYSE:DVN) in the third quarter, according to its most recent filing with the SEC. The fund acquired 27,760 shares of the energy company’s stock, valued at approximately $1,086,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Triad Wealth Partners LLC bought a new stake in shares of Devon Energy during the 2nd quarter valued at $27,000. Tradewinds Capital Management LLC purchased a new stake in shares of Devon Energy in the first quarter worth about $30,000. 1620 Investment Advisors Inc. bought a new position in shares of Devon Energy in the second quarter valued at approximately $34,000. PSI Advisors LLC boosted its position in shares of Devon Energy by 66.7% in the second quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock valued at $36,000 after acquiring an additional 300 shares during the period. Finally, LRI Investments LLC purchased a new position in Devon Energy during the first quarter valued at approximately $39,000. Institutional investors own 69.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on DVN shares. Wolfe Research initiated coverage on shares of Devon Energy in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Mizuho decreased their target price on Devon Energy from $53.00 to $51.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 9th. Wells Fargo & Company reiterated a “sector outperform” rating on shares of Devon Energy in a research report on Friday. Truist Financial decreased their price objective on shares of Devon Energy from $60.00 to $49.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Finally, Barclays cut their price target 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. Nine investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.53.

Devon Energy Trading Down 0.9 %

Shares of Devon Energy stock traded down $0.35 on Monday, hitting $40.31. The stock had a trading volume of 3,177,498 shares, compared to its average volume of 7,333,456. The company has a quick ratio of 1.03, a current ratio of 1.11 and a debt-to-equity ratio of 0.45. Devon Energy Co. has a one year low of $37.76 and a one year high of $55.09. The stock’s 50-day simple moving average is $42.15 and its two-hundred day simple moving average is $46.28. The stock has a market cap of $25.48 billion, a price-to-earnings ratio of 7.65, a PEG ratio of 1.27 and a beta of 2.02.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Tuesday, August 6th. The energy company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.15. The business had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.90 billion. Devon Energy had a net margin of 22.60% and a return on equity of 29.14%. The company’s revenue was up 13.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.18 EPS. As a group, sell-side analysts predict that Devon Energy Co. will post 5.01 EPS for the current year.

Devon Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend was Friday, September 13th. Devon Energy’s payout ratio is 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.