Devon Energy Corporation $DVN Shares Purchased by Verus Capital Partners LLC

Verus Capital Partners LLC grew its holdings in shares of Devon Energy Corporation (NYSE:DVN) by 29.3% in the second quarter, according to its most recent filing with the SEC. The firm owned 16,236 shares of the energy company’s stock after acquiring an additional 3,677 shares during the quarter. Verus Capital Partners LLC’s holdings in Devon Energy were worth $516,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. SVB Wealth LLC raised its stake in shares of Devon Energy by 4.1% during the first quarter. SVB Wealth LLC now owns 8,131 shares of the energy company’s stock valued at $304,000 after purchasing an additional 321 shares in the last quarter. Yousif Capital Management LLC increased its stake in Devon Energy by 0.4% during the 2nd quarter. Yousif Capital Management LLC now owns 87,272 shares of the energy company’s stock valued at $2,776,000 after buying an additional 321 shares during the period. MAS Advisors LLC raised its position in shares of Devon Energy by 4.3% during the 2nd quarter. MAS Advisors LLC now owns 7,951 shares of the energy company’s stock worth $253,000 after buying an additional 327 shares in the last quarter. Whittier Trust Co. lifted its stake in shares of Devon Energy by 24.3% in the 1st quarter. Whittier Trust Co. now owns 1,927 shares of the energy company’s stock worth $72,000 after acquiring an additional 377 shares during the period. Finally, Callan Family Office LLC lifted its stake in shares of Devon Energy by 3.7% in the 1st quarter. Callan Family Office LLC now owns 10,581 shares of the energy company’s stock worth $396,000 after acquiring an additional 377 shares during the period. Institutional investors own 69.72% of the company’s stock.

Devon Energy Price Performance

Shares of NYSE:DVN opened at $35.15 on Wednesday. The company has a market capitalization of $22.31 billion, a PE ratio of 7.88, a price-to-earnings-growth ratio of 2.49 and a beta of 1.01. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.22. The stock has a fifty day moving average of $33.90 and a 200-day moving average of $33.32. Devon Energy Corporation has a one year low of $25.89 and a one year high of $39.74.

Devon Energy (NYSE:DVN) last issued its earnings results on Wednesday, November 5th. The energy company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.11. The business had revenue of $0.00 million for the quarter, compared to analysts’ expectations of $4.10 billion. Devon Energy had a return on equity of 18.59% and a net margin of 16.57%.During the same period in the previous year, the firm posted $1.10 EPS. As a group, equities analysts anticipate that Devon Energy Corporation will post 4.85 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.7%. The ex-dividend date is Monday, December 15th. Devon Energy’s payout ratio is presently 22.59%.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. William Blair initiated coverage on shares of Devon Energy in a research note on Monday, August 25th. They set an “outperform” rating on the stock. Piper Sandler decreased their price target on Devon Energy from $58.00 to $57.00 and set an “overweight” rating for the company in a research note on Thursday, August 14th. Raymond James Financial reissued an “outperform” rating and issued a $45.00 price objective (up previously from $40.00) on shares of Devon Energy in a research note on Tuesday, July 22nd. Morgan Stanley cut their price objective on Devon Energy from $49.00 to $47.00 and set an “overweight” rating for the company in a report on Tuesday, October 14th. Finally, The Goldman Sachs Group decreased their target price on Devon Energy from $41.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Devon Energy presently has an average rating of “Moderate Buy” and a consensus target price of $43.07.

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.