Lindenwold Advisors INC Has $1.05 Million Stake in Devon Energy Co. (NYSE:DVN)

Lindenwold Advisors INC boosted its stake in shares of Devon Energy Co. (NYSE:DVN) by 1.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,730 shares of the energy company’s stock after acquiring an additional 422 shares during the quarter. Lindenwold Advisors INC’s holdings in Devon Energy were worth $1,046,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of DVN. Triad Wealth Partners LLC acquired a new stake in shares of Devon Energy during the 2nd quarter worth about $27,000. 1620 Investment Advisors Inc. bought a new stake in Devon Energy during the second quarter worth about $34,000. Capital Performance Advisors LLP acquired a new stake in shares of Devon Energy during the third quarter worth approximately $35,000. PSI Advisors LLC raised its stake 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 last quarter. Finally, LRI Investments LLC acquired a new position in shares of Devon Energy in the 1st quarter worth approximately $39,000. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DVN has been the subject of a number of recent analyst reports. Wells Fargo & Company dropped their price target on Devon Energy from $50.00 to $49.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Piper Sandler lifted their price target on Devon Energy from $56.00 to $57.00 and gave the company an “overweight” rating in a report on Monday. Raymond James decreased their price objective on shares of Devon Energy from $58.00 to $51.00 in a report on Tuesday, November 5th. Evercore ISI lowered their price objective on shares of 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, StockNews.com lowered shares of Devon Energy from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Devon Energy currently has an average rating of “Hold” and a consensus price target of $51.85.

Devon Energy Trading Up 0.8 %

NYSE DVN opened at $38.77 on Tuesday. Devon Energy Co. has a 12 month low of $37.76 and a 12 month high of $55.09. The stock has a 50-day simple moving average of $40.04 and a 200 day simple moving average of $44.24. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $25.47 billion, a PE ratio of 7.19, a P/E/G ratio of 1.20 and a beta of 2.03.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.01. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The company had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same period in the prior year, the business posted $1.65 EPS. Devon Energy’s revenue was up 4.9% on a year-over-year basis. Research analysts forecast that Devon Energy Co. will post 4.84 EPS for the current year.

Devon Energy Dividend Announcement

The company 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 $0.22 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.88 annualized dividend and a yield of 2.27%. Devon Energy’s dividend payout ratio (DPR) is presently 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.