Activest Wealth Management Grows Stock Position in Devon Energy Co. (NYSE:DVN)

Activest Wealth Management increased its holdings in Devon Energy Co. (NYSE:DVN) by 60.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,275 shares of the energy company’s stock after buying an additional 480 shares during the quarter. Activest Wealth Management’s holdings in Devon Energy were worth $50,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in DVN. Charles Schwab Investment Management Inc. increased its stake in shares of Devon Energy by 1.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,881,720 shares of the energy company’s stock worth $151,853,000 after purchasing an additional 69,442 shares in the last quarter. Blackhawk Capital Partners LLC. purchased a new position in shares of Devon Energy during the 3rd quarter valued at about $202,000. Pacer Advisors Inc. lifted its position in shares of Devon Energy by 16.9% during the 3rd quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company’s stock valued at $453,446,000 after buying an additional 1,677,652 shares in the last quarter. Landscape Capital Management L.L.C. increased its holdings in Devon Energy by 177.4% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 25,566 shares of the energy company’s stock worth $1,000,000 after acquiring an additional 16,351 shares in the last quarter. Finally, Grandfield & Dodd LLC boosted its position in shares of Devon Energy by 0.5% in the third quarter. Grandfield & Dodd LLC now owns 300,866 shares of the energy company’s stock worth $11,770,000 after purchasing an additional 1,438 shares during the period. 69.72% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

DVN has been the topic of a number of analyst reports. Scotiabank lowered their target price on shares of Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. StockNews.com downgraded Devon Energy from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. BMO Capital Markets cut their price objective on shares of Devon Energy from $52.00 to $48.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Truist Financial cut shares of Devon Energy from a “buy” rating to a “hold” rating and cut their target price for the company from $49.00 to $43.00 in a research note on Thursday, November 7th. Finally, Jefferies Financial Group assumed coverage on shares of Devon Energy in a research note on Thursday, October 3rd. They issued a “hold” rating and a $45.00 price target on the stock. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $51.85.

Devon Energy Stock Up 0.7 %

Shares of NYSE:DVN traded up $0.26 during trading hours on Thursday, reaching $38.56. The stock had a trading volume of 547,019 shares, compared to its average volume of 7,392,396. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11. The firm’s 50 day moving average is $39.96 and its 200-day moving average is $44.11. The stock has a market capitalization of $25.33 billion, a price-to-earnings ratio of 7.11, a P/E/G ratio of 1.20 and a beta of 2.03. Devon Energy Co. has a 1 year low of $37.76 and a 1 year high of $55.09.

Devon Energy (NYSE:DVN) last issued its earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.01. The business had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.72 billion. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the company earned $1.65 EPS. Research analysts predict that Devon Energy Co. will post 4.81 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 paid a dividend of $0.22 per share. The ex-dividend date is Friday, December 13th. This represents a $0.88 annualized dividend and a yield of 2.28%. Devon Energy’s dividend payout ratio is currently 16.33%.

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.