Banco Santander S.A. Has $5.57 Million Stock Holdings in Devon Energy Co. (NYSE:DVN)

Banco Santander S.A. trimmed its position in shares of Devon Energy Co. (NYSE:DVN) by 19.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 142,364 shares of the energy company’s stock after selling 35,108 shares during the quarter. Banco Santander S.A.’s holdings in Devon Energy were worth $5,569,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of DVN. Annex Advisory Services LLC raised its holdings in shares of Devon Energy by 0.8% in the 2nd quarter. Annex Advisory Services LLC now owns 27,651 shares of the energy company’s stock valued at $1,311,000 after purchasing an additional 223 shares during the period. 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 lifted its position in Devon Energy by 2.8% in the 2nd quarter. Archer Investment Corp now owns 8,535 shares of the energy company’s stock valued at $405,000 after acquiring an additional 235 shares in the last quarter. Citizens Financial Group Inc. RI boosted its position in shares of Devon Energy by 2.6% during the first quarter. Citizens Financial Group Inc. RI now owns 9,480 shares of the energy company’s stock valued at $476,000 after buying an additional 236 shares during the last quarter. Finally, Institute for Wealth Management LLC. raised its holdings in shares of Devon Energy by 4.0% in the second quarter. Institute for Wealth Management LLC. now owns 6,234 shares of the energy company’s stock valued at $296,000 after purchasing an additional 237 shares during the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. UBS Group reduced their price target on Devon Energy from $53.00 to $47.00 and set a “neutral” rating for the company in a research report on Wednesday, September 18th. Morgan Stanley dropped their target price on Devon Energy from $55.00 to $51.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Mizuho reduced their price target on shares of Devon Energy from $53.00 to $51.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 9th. Truist Financial cut shares of Devon Energy from a “buy” rating to a “hold” rating and cut their price objective for the company from $49.00 to $43.00 in a research note on Thursday, November 7th. Finally, Evercore ISI cut their price target on shares of Devon Energy from $55.00 to $50.00 and set an “in-line” rating for the company in a research report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $51.85.

Devon Energy Stock Up 1.2 %

Shares of NYSE DVN opened at $38.77 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61. The firm has a 50-day moving average price of $39.94 and a 200 day moving average price of $44.08. Devon Energy Co. has a 52 week low of $37.76 and a 52 week high of $55.09. The stock has a market capitalization of $25.47 billion, a price-to-earnings ratio of 7.19, a price-to-earnings-growth ratio of 1.20 and a beta of 2.03.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.01. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The company had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter last year, the firm posted $1.65 earnings per share. Devon Energy’s revenue was up 4.9% on a year-over-year basis. Equities research analysts anticipate that Devon Energy Co. will post 4.81 EPS for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.88 annualized dividend and a yield of 2.27%. Devon Energy’s dividend payout ratio (DPR) is 16.33%.

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.