Courier Capital LLC Boosts Holdings in Devon Energy Co. (NYSE:DVN)

Courier Capital LLC lifted its stake in Devon Energy Co. (NYSE:DVN) by 6.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,305 shares of the energy company’s stock after purchasing an additional 1,079 shares during the quarter. Courier Capital LLC’s holdings in Devon Energy were worth $677,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. Retirement Group LLC raised its position in shares of Devon Energy by 21.8% in the 1st quarter. Retirement Group LLC now owns 1,110 shares of the energy company’s stock worth $56,000 after purchasing an additional 199 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in shares of Devon Energy by 7.4% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 3,046 shares of the energy company’s stock worth $153,000 after purchasing an additional 209 shares during the last quarter. MCF Advisors LLC increased its holdings in Devon Energy by 5.6% in the 1st quarter. MCF Advisors LLC now owns 4,023 shares of the energy company’s stock worth $202,000 after buying an additional 215 shares in the last quarter. Annex Advisory Services LLC increased its holdings in Devon Energy by 0.8% in the 2nd quarter. Annex Advisory Services LLC now owns 27,651 shares of the energy company’s stock worth $1,311,000 after buying an additional 223 shares in the last quarter. Finally, Versant Capital Management Inc increased its holdings in Devon Energy by 30.4% in the 2nd quarter. Versant Capital Management Inc now owns 970 shares of the energy company’s stock worth $46,000 after buying an additional 226 shares in the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Down 1.6 %

DVN stock opened at $39.51 on Thursday. 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 1.03, a current ratio of 1.11 and a debt-to-equity ratio of 0.45. The stock has a market cap of $24.97 billion, a P/E ratio of 7.54, a PEG ratio of 1.27 and a beta of 2.02. The business’s 50-day moving average price is $41.96 and its 200-day moving average price is $46.05.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, August 6th. The energy company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.15. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. The firm had revenue of $3.92 billion for the quarter, compared to analysts’ expectations of $3.90 billion. During the same period in the previous year, the firm earned $1.18 EPS. The business’s quarterly revenue was up 13.4% on a year-over-year basis. On average, equities research analysts forecast that Devon Energy Co. will post 5.01 EPS for the current year.

Devon Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a $0.22 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.23%. Devon Energy’s dividend payout ratio is presently 16.79%.

Analyst Ratings Changes

DVN has been the subject of several research analyst reports. UBS Group reduced their price objective on Devon Energy from $53.00 to $47.00 and set a “neutral” rating for the company in a report on Wednesday, September 18th. Mizuho reduced their price objective on Devon Energy from $53.00 to $51.00 and set an “outperform” rating for the company in a report on Wednesday, October 9th. Piper Sandler reduced their price objective on Devon Energy from $57.00 to $56.00 and set an “overweight” rating for the company in a report on Tuesday, October 15th. Sanford C. Bernstein reduced their price objective on Devon Energy from $48.00 to $43.00 and set a “market perform” rating for the company in a report on Wednesday, July 17th. Finally, JPMorgan Chase & Co. reduced their price objective on Devon Energy from $64.00 to $51.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $52.53.

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.