Edgestream Partners L.P. Has $1.96 Million Stock Holdings in Devon Energy Co. (NYSE:DVN)

Edgestream Partners L.P. grew its position in Devon Energy Co. (NYSE:DVN) by 592.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 50,001 shares of the energy company’s stock after buying an additional 42,782 shares during the period. Edgestream Partners L.P.’s holdings in Devon Energy were worth $1,956,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in DVN. International Assets Investment Management LLC grew its stake in Devon Energy by 4,125.7% in the third quarter. International Assets Investment Management LLC now owns 2,280,961 shares of the energy company’s stock valued at $89,231,000 after acquiring an additional 2,226,983 shares during the period. Pacer Advisors Inc. grew its position in shares of Devon Energy by 16.9% in the 3rd quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company’s stock valued at $453,446,000 after purchasing an additional 1,677,652 shares during the period. Los Angeles Capital Management LLC increased its stake in Devon Energy by 7,165.6% during the 2nd quarter. Los Angeles Capital Management LLC now owns 1,376,253 shares of the energy company’s stock worth $65,234,000 after purchasing an additional 1,357,311 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Devon Energy by 16.7% in the second quarter. Dimensional Fund Advisors LP now owns 8,793,217 shares of the energy company’s stock valued at $416,779,000 after buying an additional 1,255,543 shares in the last quarter. Finally, National Bank of Canada FI increased its position in shares of Devon Energy by 447.6% during the second quarter. National Bank of Canada FI now owns 1,179,538 shares of the energy company’s stock worth $56,299,000 after acquiring an additional 964,147 shares in the last quarter. Institutional investors own 69.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $57.00 target price on shares of Devon Energy in a research note on Tuesday, September 3rd. Raymond James decreased their price objective on Devon Energy from $58.00 to $51.00 in a report on Tuesday, November 5th. Truist Financial cut Devon Energy from a “buy” rating to a “hold” rating and cut their target price for the company from $49.00 to $43.00 in a research note on Thursday, November 7th. Evercore ISI decreased 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 note on Monday, September 30th. Finally, Jefferies Financial Group started coverage on shares of Devon Energy in a research report on Thursday, October 3rd. They issued a “hold” rating and a $45.00 price objective on the stock. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $51.15.

Devon Energy Trading Down 0.9 %

DVN stock opened at $37.61 on Tuesday. Devon Energy Co. has a one year low of $37.15 and a one year high of $55.09. The stock has a market cap of $24.71 billion, a price-to-earnings ratio of 6.98, a price-to-earnings-growth ratio of 1.20 and a beta of 2.03. The company has a fifty day moving average price of $39.68 and a two-hundred day moving average price of $43.47. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01.

Devon Energy (NYSE:DVN) last announced its earnings results on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, topping the consensus estimate of $1.09 by $0.01. The business had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.72 billion. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. Devon Energy’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.65 EPS. Equities analysts anticipate that Devon Energy Co. will post 4.79 EPS for the current year.

Devon Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.34%. The ex-dividend date is Friday, December 13th. Devon Energy’s payout ratio is 16.33%.

Devon Energy Company 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.