World Investment Advisors LLC Raises Position in Devon Energy Co. (NYSE:DVN)

World Investment Advisors LLC lifted its stake in Devon Energy Co. (NYSE:DVN) by 3,440.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 149,437 shares of the energy company’s stock after purchasing an additional 145,216 shares during the quarter. World Investment Advisors LLC’s holdings in Devon Energy were worth $5,846,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. ORG Partners LLC lifted its holdings in shares of Devon Energy by 738.3% in the 2nd quarter. ORG Partners LLC now owns 1,534 shares of the energy company’s stock worth $73,000 after acquiring an additional 1,351 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in Devon Energy by 5.9% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 6,018 shares of the energy company’s stock worth $285,000 after purchasing an additional 335 shares during the last quarter. Triad Wealth Partners LLC purchased a new position in shares of Devon Energy during the second quarter valued at approximately $27,000. Blue Trust Inc. grew its stake in shares of Devon Energy by 21.7% during the second quarter. Blue Trust Inc. now owns 10,245 shares of the energy company’s stock valued at $514,000 after buying an additional 1,830 shares during the last quarter. Finally, Oak Harbor Wealth Partners LLC raised its holdings in shares of Devon Energy by 5.8% in the second quarter. Oak Harbor Wealth Partners LLC now owns 31,985 shares of the energy company’s stock worth $1,516,000 after buying an additional 1,755 shares during the period. Institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Down 1.8 %

Devon Energy stock opened at $34.14 on Friday. The business has a fifty day moving average price of $38.92 and a 200-day moving average price of $42.72. Devon Energy Co. has a 1-year low of $33.88 and a 1-year high of $55.09. The stock has a market capitalization of $22.43 billion, a price-to-earnings ratio of 6.33, a PEG ratio of 1.10 and a beta of 1.99. 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 issued its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.01. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The business had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter last year, the company earned $1.65 earnings per share. The company’s quarterly revenue was up 4.9% on a year-over-year basis. Equities research analysts forecast that Devon Energy Co. will post 4.79 EPS for the current fiscal year.

Devon Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.22 per share. The ex-dividend date is Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.58%. Devon Energy’s payout ratio is 16.33%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on DVN shares. Jefferies Financial Group initiated coverage on Devon Energy in a report on Thursday, October 3rd. They set a “hold” rating and a $45.00 price objective for the company. Citigroup reduced their price target on shares of Devon Energy from $55.00 to $48.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. Benchmark reissued a “hold” rating on shares of Devon Energy in a research report on Tuesday, October 15th. BMO Capital Markets dropped their target price on shares of Devon Energy from $52.00 to $48.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. Finally, Susquehanna decreased their price target on shares of Devon Energy from $63.00 to $62.00 and set a “positive” rating for the company in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $50.75.

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.