Victory Capital Management Inc. Has $390.08 Million Stake in Devon Energy Co. (NYSE:DVN)

Victory Capital Management Inc. increased its stake in shares of Devon Energy Co. (NYSE:DVN) by 3.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,971,343 shares of the energy company’s stock after buying an additional 361,968 shares during the quarter. Victory Capital Management Inc. owned about 1.59% of Devon Energy worth $390,079,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Annex Advisory Services LLC boosted its holdings in shares of Devon Energy by 0.8% during the 2nd quarter. Annex Advisory Services LLC now owns 27,651 shares of the energy company’s stock valued at $1,311,000 after acquiring an additional 223 shares in the last quarter. Versant Capital Management Inc increased its stake in Devon Energy by 30.4% during the 2nd quarter. Versant Capital Management Inc now owns 970 shares of the energy company’s stock valued at $46,000 after purchasing an additional 226 shares in the last quarter. Archer Investment Corp increased its position in shares of Devon Energy by 2.8% during the second quarter. Archer Investment Corp now owns 8,535 shares of the energy company’s stock worth $405,000 after acquiring an additional 235 shares in the last quarter. Citizens Financial Group Inc. RI boosted its stake in Devon Energy by 2.6% during the 1st quarter. Citizens Financial Group Inc. RI now owns 9,480 shares of the energy company’s stock valued at $476,000 after purchasing an additional 236 shares during the last quarter. Finally, Institute for Wealth Management LLC. lifted its holdings in Devon Energy by 4.0% during the second quarter. Institute for Wealth Management LLC. now owns 6,234 shares of the energy company’s stock worth $296,000 after acquiring an additional 237 shares during the period. 69.72% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on the company. TD Cowen cut their target price on Devon Energy from $54.00 to $46.00 and set a “hold” rating for the company in a research note on Tuesday, November 5th. Evercore ISI dropped their target price 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. BMO Capital Markets reduced their price target on shares of Devon Energy from $52.00 to $48.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. StockNews.com lowered shares of Devon Energy from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Finally, Truist Financial downgraded shares of Devon Energy from a “buy” rating to a “hold” rating and reduced their target price for the stock from $49.00 to $43.00 in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Devon Energy presently has an average rating of “Hold” and an average target price of $51.80.

Devon Energy Price Performance

Shares of DVN stock traded down $0.18 during trading hours on Tuesday, reaching $38.78. The stock had a trading volume of 1,880,660 shares, compared to its average volume of 7,412,386. The stock’s fifty day simple moving average is $40.36 and its 200 day simple moving average is $44.69. Devon Energy Co. has a 12 month low of $37.76 and a 12 month high of $55.09. The firm has a market capitalization of $25.47 billion, a PE ratio of 7.23, a PEG ratio of 1.21 and a beta of 2.03. The company has a current ratio of 1.11, a quick ratio of 1.03 and a debt-to-equity ratio of 0.61.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.01. The company had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.72 billion. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the company earned $1.65 EPS. On average, equities research analysts predict that Devon Energy Co. will post 4.89 EPS for the current year.

Devon Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be 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 of this dividend is Friday, December 13th. Devon Energy’s dividend payout ratio (DPR) is presently 16.33%.

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.