21,432 Shares in Devon Energy Co. (NYSE:DVN) Purchased by SteelPeak Wealth LLC

SteelPeak Wealth LLC acquired a new position in shares of Devon Energy Co. (NYSE:DVN) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 21,432 shares of the energy company’s stock, valued at approximately $838,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Triad Wealth Partners LLC purchased a new position in Devon Energy during the second quarter worth about $27,000. 1620 Investment Advisors Inc. purchased a new position in Devon Energy during the second quarter worth about $34,000. PSI Advisors LLC boosted its stake in Devon Energy by 66.7% during the second quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock worth $36,000 after buying an additional 300 shares during the period. LRI Investments LLC purchased a new position in Devon Energy during the first quarter worth about $39,000. Finally, Manchester Capital Management LLC boosted its stake in Devon Energy by 40.9% during the first quarter. Manchester Capital Management LLC now owns 861 shares of the energy company’s stock worth $43,000 after buying an additional 250 shares during the period. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Devon Energy Stock Up 0.5 %

DVN stock opened at $38.34 on Thursday. 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 twelve month low of $37.76 and a twelve month high of $55.09. The company’s 50 day moving average is $41.26 and its two-hundred day moving average is $45.48. The stock has a market cap of $24.01 billion, a P/E ratio of 6.96, a PEG ratio of 1.22 and a beta of 2.02.

Devon Energy (NYSE:DVN) last released its quarterly earnings data 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. Devon Energy had a net margin of 22.60% and a return on equity of 29.14%. The company had revenue of $3.92 billion for the quarter, compared to analysts’ expectations of $3.90 billion. During the same quarter last year, the company earned $1.18 earnings per share. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. Research analysts expect that Devon Energy Co. will post 4.98 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a dividend of $0.22 per share. The ex-dividend date was Friday, September 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.30%. Devon Energy’s payout ratio is currently 15.97%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on DVN. Morgan Stanley lowered their target price on shares of Devon Energy from $55.00 to $51.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. BMO Capital Markets lowered their price objective on shares of Devon Energy from $52.00 to $48.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. UBS Group lowered their price objective on shares of Devon Energy from $53.00 to $47.00 and set a “neutral” rating for the company in a research note on Wednesday, September 18th. Wolfe Research initiated coverage on shares of Devon Energy in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Devon Energy from $64.00 to $51.00 and set an “overweight” rating for the company in a research note on Thursday, September 12th. Nine investment 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 a consensus rating of “Moderate Buy” and a consensus target price of $52.53.

Devon Energy 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.