Nisa Investment Advisors LLC Has $2.82 Million Stock Position in Devon Energy Co. (NYSE:DVN)

Nisa Investment Advisors LLC reduced its position in Devon Energy Co. (NYSE:DVN) by 34.8% in the 4th quarter, HoldingsChannel reports. The firm owned 62,241 shares of the energy company’s stock after selling 33,279 shares during the period. Nisa Investment Advisors LLC’s holdings in Devon Energy were worth $2,820,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Wahed Invest LLC lifted its holdings in shares of Devon Energy by 2.1% during the first quarter. Wahed Invest LLC now owns 7,933 shares of the energy company’s stock worth $469,000 after purchasing an additional 161 shares during the period. Avior Wealth Management LLC lifted its holdings in shares of Devon Energy by 4.9% during the third quarter. Avior Wealth Management LLC now owns 4,406 shares of the energy company’s stock worth $210,000 after purchasing an additional 207 shares during the period. Cornerstone Wealth Management LLC lifted its holdings in shares of Devon Energy by 1.9% during the third quarter. Cornerstone Wealth Management LLC now owns 11,540 shares of the energy company’s stock worth $550,000 after purchasing an additional 218 shares during the period. MCF Advisors LLC lifted its holdings in shares of Devon Energy by 9.0% during the third quarter. MCF Advisors LLC now owns 2,681 shares of the energy company’s stock worth $128,000 after purchasing an additional 222 shares during the period. Finally, Clearbridge Investments LLC lifted its holdings in shares of Devon Energy by 2.1% during the third quarter. Clearbridge Investments LLC now owns 11,887 shares of the energy company’s stock worth $567,000 after purchasing an additional 239 shares during the period. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Devon Energy Trading Down 0.9 %

DVN opened at $53.43 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.99 and a debt-to-equity ratio of 0.46. The company has a fifty day moving average price of $46.84 and a two-hundred day moving average price of $45.75. The company has a market cap of $33.93 billion, a P/E ratio of 9.16 and a beta of 2.19. Devon Energy Co. has a 1-year low of $40.47 and a 1-year high of $56.19.

Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, February 27th. The energy company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.39 by $0.02. The company had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $3.88 billion. Devon Energy had a net margin of 24.56% and a return on equity of 31.72%. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.66 earnings per share. Analysts predict that Devon Energy Co. will post 4.91 EPS for the current fiscal year.

Devon Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 3.29%. The ex-dividend date of this dividend was Thursday, March 14th. Devon Energy’s payout ratio is presently 15.09%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on DVN shares. Morgan Stanley lifted their price target on shares of Devon Energy from $48.00 to $49.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Raymond James dropped their target price on shares of Devon Energy from $53.00 to $52.00 and set an “outperform” rating on the stock in a report on Wednesday, January 24th. Truist Financial dropped their target price on shares of Devon Energy from $69.00 to $66.00 and set a “buy” rating on the stock in a report on Friday, April 5th. Scotiabank boosted their target price on shares of Devon Energy from $53.00 to $67.00 and gave the company a “sector outperform” rating in a report on Thursday. Finally, Citigroup boosted their target price on shares of Devon Energy from $55.00 to $62.00 and gave the company a “buy” rating in a report on Thursday. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $57.83.

Devon Energy 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.