AustralianSuper Pty Ltd Buys 18,996 Shares of Devon Energy Co. (NYSE:DVN)

AustralianSuper Pty Ltd increased its stake in Devon Energy Co. (NYSE:DVN) by 13.4% during the third quarter, HoldingsChannel reports. The firm owned 160,433 shares of the energy company’s stock after acquiring an additional 18,996 shares during the period. AustralianSuper Pty Ltd’s holdings in Devon Energy were worth $6,276,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of DVN. Triad Wealth Partners LLC bought a new stake in Devon Energy during the 2nd quarter valued at $27,000. 1620 Investment Advisors Inc. bought a new stake in shares of Devon Energy during the 2nd quarter valued at $34,000. PSI Advisors LLC raised its stake in shares of Devon Energy by 66.7% during the 2nd quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock valued at $36,000 after purchasing an additional 300 shares during the period. LRI Investments LLC purchased a new stake in Devon Energy during the 1st quarter worth about $39,000. Finally, Future Financial Wealth Managment LLC purchased a new position in Devon Energy during the 3rd quarter valued at about $39,000. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on DVN shares. Piper Sandler cut their price objective on shares of Devon Energy from $57.00 to $56.00 and set an “overweight” rating for the company in a research report on Tuesday, October 15th. Evercore ISI decreased their price target on shares of Devon Energy from $55.00 to $50.00 and set an “in-line” rating on the stock in a report on Monday, September 30th. Scotiabank dropped their price objective on Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. StockNews.com lowered Devon Energy from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Finally, Truist Financial dropped their price target on Devon Energy from $60.00 to $49.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $52.53.

Devon Energy Trading Up 0.9 %

NYSE:DVN opened at $38.69 on Friday. The company has a 50-day moving average price of $41.26 and a 200-day moving average price of $45.48. The stock has a market cap of $24.23 billion, a price-to-earnings ratio of 7.02, a P/E/G ratio of 1.18 and a beta of 2.02. The company has a current ratio of 1.11, a quick ratio of 1.03 and a debt-to-equity ratio of 0.45. Devon Energy Co. has a 12 month low of $37.76 and a 12 month high of $55.09.

Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, August 6th. The energy company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.15. The firm had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $3.90 billion. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. The business’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.18 EPS. Equities analysts predict that Devon Energy Co. will post 4.93 EPS for the current year.

Devon Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date was Friday, September 13th. Devon Energy’s dividend payout ratio (DPR) is presently 15.97%.

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.