Dohj LLC Invests $234,000 in Devon Energy Co. (NYSE:DVN)

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

Several other hedge funds also recently added to or reduced their stakes in DVN. EnCap Energy Capital Fund X L.P. purchased a new stake in Devon Energy during the 1st quarter valued at about $744,282,000. BlackRock Inc. grew its stake in Devon Energy by 86.1% during the 1st quarter. BlackRock Inc. now owns 45,991,981 shares of the energy company’s stock valued at $1,004,923,000 after acquiring an additional 21,276,787 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Devon Energy by 236.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 23,978,597 shares of the energy company’s stock valued at $523,932,000 after acquiring an additional 16,851,353 shares in the last quarter. Shapiro Capital Management LLC grew its stake in Devon Energy by 43,522.4% during the 1st quarter. Shapiro Capital Management LLC now owns 9,090,467 shares of the energy company’s stock valued at $198,627,000 after acquiring an additional 9,069,628 shares in the last quarter. Finally, Permian Investment Partners LP purchased a new stake in Devon Energy during the 1st quarter valued at about $113,220,000. 86.42% of the stock is owned by institutional investors and hedge funds.

DVN stock traded up $1.47 during trading on Wednesday, hitting $29.74. 640,218 shares of the company’s stock traded hands, compared to its average volume of 11,844,242. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.76. Devon Energy Co. has a 52 week low of $7.73 and a 52 week high of $31.99. The stock has a fifty day moving average price of $27.45 and a two-hundred day moving average price of $26.05. The stock has a market capitalization of $20.13 billion, a price-to-earnings ratio of 165.56, a price-to-earnings-growth ratio of 0.32 and a beta of 3.37.

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

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

DVN has been the topic of several recent analyst reports. Mizuho boosted their target price on shares of Devon Energy from $35.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, July 15th. Truist boosted their target price on shares of Devon Energy from $35.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, July 1st. They noted that the move was a valuation call. Sanford C. Bernstein upgraded shares of Devon Energy from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $27.00 to $37.00 in a report on Monday, June 21st. Morgan Stanley boosted their target price on shares of Devon Energy from $32.00 to $34.00 and gave the company an “equal weight” rating in a report on Monday, August 23rd. Finally, Wells Fargo & Company boosted their target price on shares of Devon Energy from $37.00 to $38.00 and gave the company an “overweight” rating in a report on Monday, August 23rd. Three research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Devon Energy has an average rating of “Buy” and an average price target of $30.25.

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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