Devon Energy Co. (NYSE:DVN) Shares Purchased by Smead Capital Management Inc.

Smead Capital Management Inc. grew its position in Devon Energy Co. (NYSE:DVN) by 3.5% in the 3rd quarter, Holdings Channel.com reports. The fund owned 5,879,516 shares of the energy company’s stock after acquiring an additional 198,193 shares during the quarter. Devon Energy comprises about 3.3% of Smead Capital Management Inc.’s holdings, making the stock its 17th largest position. Smead Capital Management Inc.’s holdings in Devon Energy were worth $230,007,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of DVN. Triad Wealth Partners LLC acquired a new stake in shares of Devon Energy in the second quarter valued at approximately $27,000. 1620 Investment Advisors Inc. purchased a new position in Devon Energy in the second quarter worth $34,000. Capital Performance Advisors LLP purchased a new position in shares of Devon Energy in the third quarter valued at $35,000. PSI Advisors LLC increased its position in shares of Devon Energy by 66.7% in 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 position in shares of Devon Energy in the first quarter valued at $39,000. 69.72% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on DVN shares. BMO Capital Markets decreased their price objective on Devon Energy from $52.00 to $48.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. Truist Financial lowered Devon Energy from a “buy” rating to a “hold” rating and reduced their price objective for the company from $49.00 to $43.00 in a research note on Thursday, November 7th. Raymond James dropped their target price on Devon Energy from $58.00 to $51.00 in a report on Tuesday, November 5th. Evercore ISI dropped their price objective on Devon Energy from $55.00 to $50.00 and set an “in-line” rating on the stock in a report on Monday, September 30th. Finally, TD Cowen decreased their target price on Devon Energy from $54.00 to $46.00 and set a “hold” rating for the company in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $51.85.

Devon Energy Stock Up 0.8 %

DVN opened at $38.77 on Tuesday. Devon Energy Co. has a one year low of $37.76 and a one year high of $55.09. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11. The stock’s fifty day moving average is $40.04 and its 200-day moving average is $44.24. The company has a market capitalization of $25.47 billion, a PE ratio of 7.19, a P/E/G ratio of 1.20 and a beta of 2.03.

Devon Energy (NYSE:DVN) last announced its earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.01. The company had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.72 billion. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. Devon Energy’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.65 earnings per share. On average, equities analysts predict that Devon Energy Co. will post 4.84 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.27%. The ex-dividend date is Friday, December 13th. Devon Energy’s payout ratio is 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.