Keyes Stange & Wooten Wealth Management LLC Has $625,000 Stock Position in Devon Energy Co. (NYSE:DVN)

Keyes Stange & Wooten Wealth Management LLC raised its holdings in shares of Devon Energy Co. (NYSE:DVN) by 3.1% in the third quarter, Holdings Channel reports. The institutional investor owned 15,966 shares of the energy company’s stock after buying an additional 486 shares during the quarter. Keyes Stange & Wooten Wealth Management LLC’s holdings in Devon Energy were worth $625,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Devon Energy during the 1st quarter worth approximately $734,000. EP Wealth Advisors LLC increased its holdings in Devon Energy by 14.5% in the 1st quarter. EP Wealth Advisors LLC now owns 9,393 shares of the energy company’s stock valued at $471,000 after buying an additional 1,188 shares during the period. Canada Pension Plan Investment Board raised its stake in shares of Devon Energy by 467.1% in the 1st quarter. Canada Pension Plan Investment Board now owns 719,672 shares of the energy company’s stock valued at $36,113,000 after buying an additional 592,765 shares in the last quarter. 1832 Asset Management L.P. lifted its holdings in shares of Devon Energy by 23.3% during the 1st quarter. 1832 Asset Management L.P. now owns 175,481 shares of the energy company’s stock worth $8,806,000 after acquiring an additional 33,203 shares during the period. Finally, LRI Investments LLC acquired a new stake in shares of Devon Energy during the 1st quarter valued at about $87,000. 69.72% of the stock is owned by institutional investors.

Devon Energy Stock Up 1.9 %

Shares of NYSE:DVN opened at $39.45 on Friday. The company has a 50 day moving average of $39.94 and a 200-day moving average of $44.00. Devon Energy Co. has a one year low of $37.76 and a one year high of $55.09. The stock has a market cap of $25.91 billion, a price-to-earnings ratio of 7.32, a P/E/G ratio of 1.22 and a beta of 2.03. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01.

Devon Energy (NYSE:DVN) last issued its earnings results on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter in the previous year, the company posted $1.65 EPS. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, sell-side analysts forecast that Devon Energy Co. will post 4.79 earnings per share for the current year.

Devon Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend is Friday, December 13th. Devon Energy’s payout ratio is 16.33%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on DVN shares. Truist Financial lowered Devon Energy from a “buy” rating to a “hold” rating and lowered their price objective for the company from $49.00 to $43.00 in a research note on Thursday, November 7th. TD Cowen lowered their price target on Devon Energy from $54.00 to $46.00 and set a “hold” rating on the stock in a research report on Tuesday, November 5th. BMO Capital Markets cut their price objective on Devon Energy from $52.00 to $48.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Barclays lowered their target price on shares of Devon Energy from $55.00 to $46.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. Finally, Scotiabank cut their price target on shares of Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Devon Energy presently has a consensus rating of “Hold” and an average target price of $51.85.

Devon Energy Company 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.