Dohj LLC Makes New Investment in Devon Energy Co. (NYSE:DVN)

Dohj LLC bought a new position in shares of Devon Energy Co. (NYSE:DVN) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 8,015 shares of the energy company’s stock, valued at approximately $234,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Meeder Asset Management Inc. lifted its holdings in shares of Devon Energy by 0.8% during the 2nd quarter. Meeder Asset Management Inc. now owns 57,925 shares of the energy company’s stock valued at $1,691,000 after purchasing an additional 469 shares in the last quarter. Resonant Capital Advisors LLC lifted its holdings in shares of Devon Energy by 2.2% during the 2nd quarter. Resonant Capital Advisors LLC now owns 22,876 shares of the energy company’s stock valued at $668,000 after purchasing an additional 485 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of Devon Energy by 4.4% during the 2nd quarter. Parallel Advisors LLC now owns 11,743 shares of the energy company’s stock valued at $343,000 after purchasing an additional 495 shares in the last quarter. Blume Capital Management Inc. raised its position in Devon Energy by 50.9% in the 1st quarter. Blume Capital Management Inc. now owns 1,735 shares of the energy company’s stock valued at $38,000 after buying an additional 585 shares during the last quarter. Finally, Heritage Trust Co raised its position in Devon Energy by 1.1% in the 1st quarter. Heritage Trust Co now owns 60,075 shares of the energy company’s stock valued at $1,313,000 after buying an additional 649 shares during the last quarter. Hedge funds and other institutional investors own 86.42% of the company’s stock.

A number of brokerages recently issued reports on DVN. Piper Sandler lifted their target price on Devon Energy from $34.00 to $37.00 and gave the company an “overweight” rating in a research report on Thursday, July 22nd. Morgan Stanley boosted their price target on Devon Energy from $32.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Monday, August 23rd. Sanford C. Bernstein raised Devon Energy from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $27.00 to $37.00 in a research report on Monday, June 21st. Mizuho boosted their price target on Devon Energy from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday, July 15th. Finally, Wells Fargo & Company boosted their price target on Devon Energy from $37.00 to $38.00 and gave the stock an “overweight” rating in a research report on Monday, August 23rd. Three research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $30.25.

DVN traded up $1.47 during trading on Wednesday, hitting $29.74. The stock had a trading volume of 640,218 shares, compared to its average volume of 11,844,242. The company has a 50 day moving average price of $27.45 and a 200-day moving average price of $26.05. The firm has a market cap of $20.13 billion, a price-to-earnings ratio of 165.56, a P/E/G ratio of 0.32 and a beta of 3.37. Devon Energy Co. has a one year low of $7.73 and a one year high of $31.99. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.00 and a quick ratio of 1.00.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, August 3rd. The energy company reported $0.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.07. The business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.38 billion. Devon Energy had a return on equity of 11.95% and a net margin of 4.21%. As a group, sell-side analysts predict that Devon Energy Co. will post 2.78 EPS for the current fiscal year.

The business also recently announced a None dividend, which will be paid on Thursday, September 30th. Stockholders of record on Monday, September 13th will be given a dividend of $0.49 per share. The ex-dividend date of this dividend is Friday, September 10th. This represents a dividend yield of 1.7%. Devon Energy’s payout ratio is -488.89%.

Devon Energy Profile

Devon Energy Corp. engages in the exploration, development, and production of oil and natural gas properties. It develops and operates Delaware Basin, Eagle Ford, Heavy Oil, Baarnett Shale, STACK, and Rockies Oil. The company was founded by J. Larry Nichols and John W. Nichols in 1971 and is headquartered in Oklahoma City, OK.

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Institutional Ownership by Quarter for Devon Energy (NYSE:DVN)

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