Metis Global Partners LLC Buys 2,392 Shares of Devon Energy Co. (NYSE:DVN)

Metis Global Partners LLC raised its stake in shares of Devon Energy Co. (NYSE:DVN) by 9.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 27,179 shares of the energy company’s stock after purchasing an additional 2,392 shares during the quarter. Metis Global Partners LLC’s holdings in Devon Energy were worth $1,063,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of Devon Energy by 28.3% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 22,975 shares of the energy company’s stock worth $1,153,000 after acquiring an additional 5,074 shares during the period. Vanguard Group Inc. raised its stake in shares of Devon Energy by 3.5% in the first quarter. Vanguard Group Inc. now owns 76,457,056 shares of the energy company’s stock valued at $3,836,615,000 after purchasing an additional 2,559,039 shares in the last quarter. Jacobi Capital Management LLC bought a new position in Devon Energy in the first quarter worth $247,000. Resurgent Financial Advisors LLC boosted its stake in Devon Energy by 72.5% during the first quarter. Resurgent Financial Advisors LLC now owns 6,361 shares of the energy company’s stock worth $319,000 after buying an additional 2,673 shares in the last quarter. Finally, MAS Advisors LLC increased its holdings in Devon Energy by 21.1% in the 1st quarter. MAS Advisors LLC now owns 11,694 shares of the energy company’s stock valued at $587,000 after buying an additional 2,037 shares during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Trading Down 2.3 %

DVN stock opened at $38.47 on Friday. The business has a fifty day moving average of $40.09 and a 200-day moving average of $44.37. The company has a market cap of $25.27 billion, a P/E ratio of 7.14, a PEG ratio of 1.22 and a beta of 2.03. Devon Energy Co. has a twelve month low of $37.76 and a twelve month high of $55.09. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61.

Devon Energy (NYSE:DVN) last released its earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.01. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The company had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same period in the prior year, the company posted $1.65 EPS. The company’s revenue was up 4.9% compared to the same quarter last year. As a group, equities research analysts expect that Devon Energy Co. will post 4.84 EPS for the current year.

Devon Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend is Friday, December 13th. Devon Energy’s dividend payout ratio is presently 16.33%.

Analyst Upgrades and Downgrades

DVN has been the subject of a number of analyst reports. Susquehanna reduced their price objective on shares of Devon Energy from $63.00 to $62.00 and set a “positive” rating for the company in a report on Friday, October 18th. Truist Financial downgraded Devon Energy from a “buy” rating to a “hold” rating and decreased their price objective for the company from $49.00 to $43.00 in a report on Thursday, November 7th. Barclays dropped their target price on Devon Energy from $55.00 to $46.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. JPMorgan Chase & Co. decreased their price target on Devon Energy from $64.00 to $51.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. Finally, StockNews.com lowered Devon Energy from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. 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 data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $51.80.

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.