Devon Energy Co. (NYSE:DVN) Position Increased by Pacer Advisors Inc.

Pacer Advisors Inc. lifted its position in shares of Devon Energy Co. (NYSE:DVN) by 16.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 11,591,168 shares of the energy company’s stock after acquiring an additional 1,677,652 shares during the period. Devon Energy accounts for 1.0% of Pacer Advisors Inc.’s portfolio, making the stock its 24th biggest holding. Pacer Advisors Inc.’s holdings in Devon Energy were worth $453,446,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Triad Wealth Partners LLC bought a new position in Devon Energy in the 2nd quarter valued at about $27,000. 1620 Investment Advisors Inc. acquired a new stake in Devon Energy in the 2nd quarter valued at about $34,000. Capital Performance Advisors LLP acquired a new stake in Devon Energy in the 3rd quarter valued at about $35,000. PSI Advisors LLC lifted its stake in Devon Energy by 66.7% during the second quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock valued at $36,000 after buying an additional 300 shares in the last quarter. Finally, LRI Investments LLC purchased a new stake in Devon Energy during the first quarter valued at about $39,000. Institutional investors own 69.72% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. TD Cowen reduced their price target on shares of Devon Energy from $54.00 to $46.00 and set a “hold” rating for the company in a research report on Tuesday, November 5th. Evercore ISI reduced 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. UBS Group reduced their price target on shares of Devon Energy from $53.00 to $47.00 and set a “neutral” rating for the company in a research report on Wednesday, September 18th. Wells Fargo & Company reduced their price target on shares of Devon Energy from $50.00 to $49.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. Finally, Truist Financial lowered shares of Devon Energy from a “buy” rating to a “hold” rating and reduced their price target for the stock from $49.00 to $43.00 in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $51.85.

Devon Energy Stock Up 1.0 %

DVN opened at $38.30 on Thursday. Devon Energy Co. has a 1-year low of $37.76 and a 1-year high of $55.09. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $25.16 billion, a price-to-earnings ratio of 7.11, a P/E/G ratio of 1.20 and a beta of 2.03. The business has a 50 day moving average of $39.96 and a 200-day moving average of $44.11.

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 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 company had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same period in the prior year, the business earned $1.65 earnings per share. Devon Energy’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Devon Energy Co. will post 4.81 earnings per share for the current year.

Devon Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be given a $0.22 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.88 annualized dividend and a yield of 2.30%. Devon Energy’s dividend payout ratio (DPR) is currently 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.