Creative Planning Acquires 33,249 Shares of Devon Energy Co. (NYSE:DVN)

Creative Planning lifted its position in Devon Energy Co. (NYSE:DVNFree Report) by 33.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 132,206 shares of the energy company’s stock after purchasing an additional 33,249 shares during the quarter. Creative Planning’s holdings in Devon Energy were worth $5,172,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in DVN. Triad Wealth Partners LLC purchased a new position in shares of Devon Energy during the second quarter valued at approximately $27,000. Tradewinds Capital Management LLC acquired a new position in shares of Devon Energy during the first quarter worth $30,000. 1620 Investment Advisors Inc. acquired a new position in shares of Devon Energy in the 2nd quarter valued at $34,000. PSI Advisors LLC increased its position in shares of Devon Energy by 66.7% in the 2nd quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock valued at $36,000 after acquiring an additional 300 shares during the period. Finally, LRI Investments LLC purchased a new stake in Devon Energy in the first quarter valued at $39,000. 69.72% of the stock is owned by institutional investors.

Devon Energy Stock Performance

NYSE DVN opened at $39.51 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.11 and a debt-to-equity ratio of 0.45. The firm has a 50-day moving average price of $41.74 and a 200 day moving average price of $45.96. Devon Energy Co. has a 52-week low of $37.76 and a 52-week high of $55.09. The stock has a market capitalization of $24.97 billion, a P/E ratio of 7.54, a P/E/G ratio of 1.27 and a beta of 2.02.

Devon Energy (NYSE:DVNGet Free Report) last released its quarterly earnings results on Tuesday, August 6th. The energy company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.26 by $0.15. Devon Energy had a net margin of 22.60% and a return on equity of 29.14%. The business had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.90 billion. During the same period in the prior year, the business earned $1.18 earnings per share. The company’s quarterly revenue was up 13.4% on a year-over-year basis. Equities research analysts expect that Devon Energy Co. will post 5.01 EPS for the current year.

Devon Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date was Friday, September 13th. Devon Energy’s dividend payout ratio is currently 16.79%.

Analyst Ratings Changes

Several research firms have recently issued reports on DVN. Evercore ISI lowered their target price on shares of Devon Energy from $55.00 to $50.00 and set an “in-line” rating on the stock in a research note on Monday, September 30th. Truist Financial cut their price objective on shares of Devon Energy from $60.00 to $49.00 and set a “buy” rating for the company in a report on Monday, September 30th. Jefferies Financial Group assumed coverage on shares of Devon Energy in a report on Thursday, October 3rd. They set a “hold” rating and a $45.00 price target for the company. BMO Capital Markets lowered their price objective on shares of Devon Energy from $52.00 to $48.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Finally, Barclays decreased their price target on shares of Devon Energy from $55.00 to $46.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $52.53.

Get Our Latest Analysis on Devon Energy

About Devon Energy

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Devon Energy (NYSE:DVN)

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