Simmons Bank Sells 800 Shares of Devon Energy Co. (NYSE:DVN)

Simmons Bank trimmed its position in shares of Devon Energy Co. (NYSE:DVN) by 5.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 13,740 shares of the energy company’s stock after selling 800 shares during the quarter. Simmons Bank’s holdings in Devon Energy were worth $651,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. WealthShield Partners LLC grew its holdings in Devon Energy by 5.2% during the second quarter. WealthShield Partners LLC now owns 33,578 shares of the energy company’s stock valued at $1,592,000 after purchasing an additional 1,665 shares during the period. Patriot Financial Group Insurance Agency LLC lifted its position in shares of Devon Energy by 4.1% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 8,518 shares of the energy company’s stock worth $404,000 after acquiring an additional 334 shares in the last quarter. Saxony Capital Management LLC purchased a new stake in shares of Devon Energy during the second quarter worth $274,000. Pegasus Asset Management Inc. lifted its position in shares of Devon Energy by 2.1% during the second quarter. Pegasus Asset Management Inc. now owns 72,262 shares of the energy company’s stock worth $3,425,000 after acquiring an additional 1,505 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Devon Energy by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 4,680,448 shares of the energy company’s stock worth $221,853,000 after acquiring an additional 18,443 shares in the last quarter. 69.72% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

DVN has been the topic of several recent research reports. StockNews.com upgraded Devon Energy from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Bank of America restated a “buy” rating and set a $64.00 target price on shares of Devon Energy in a research report on Friday, June 14th. Piper Sandler dropped their target price on Devon Energy from $65.00 to $57.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. Truist Financial lowered their price objective on Devon Energy from $67.00 to $64.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Finally, Mizuho increased their price objective on Devon Energy from $57.00 to $61.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Five analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $58.75.

Devon Energy Trading Down 0.1 %

Shares of NYSE:DVN traded down $0.06 on Wednesday, reaching $44.59. 3,645,608 shares of the company traded hands, compared to its average volume of 7,115,205. The business’s 50-day simple moving average is $45.91 and its 200 day simple moving average is $47.56. Devon Energy Co. has a 52 week low of $40.47 and a 52 week high of $55.09. The stock has a market capitalization of $28.18 billion, a P/E ratio of 8.52, a price-to-earnings-growth ratio of 0.75 and a beta of 2.07. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 0.46.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, August 6th. The energy company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.15. Devon Energy had a return on equity of 29.02% and a net margin of 22.27%. The firm had revenue of $3.92 billion for the quarter, compared to analysts’ expectations of $3.90 billion. During the same period last year, the firm earned $1.18 earnings per share. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. As a group, equities analysts anticipate that Devon Energy Co. will post 5.4 EPS for the current fiscal year.

Devon Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.97%. Devon Energy’s dividend payout ratio (DPR) is currently 16.79%.

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.