Whittier Trust Co. Buys 300 Shares of Devon Energy Co. (NYSE:DVN)

Whittier Trust Co. boosted its stake in Devon Energy Co. (NYSE:DVNFree Report) by 23.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,600 shares of the energy company’s stock after acquiring an additional 300 shares during the period. Whittier Trust Co.’s holdings in Devon Energy were worth $80,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DVN. Cliftonlarsonallen Wealth Advisors LLC raised its holdings in shares of Devon Energy by 0.7% in the 1st quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 97,651 shares of the energy company’s stock worth $4,900,000 after purchasing an additional 710 shares during the period. Pegasus Asset Management Inc. raised its stake in shares of Devon Energy by 31.6% in the first quarter. Pegasus Asset Management Inc. now owns 70,757 shares of the energy company’s stock valued at $3,551,000 after buying an additional 16,977 shares during the period. Financial Counselors Inc. lifted its position in shares of Devon Energy by 15.4% during the 1st quarter. Financial Counselors Inc. now owns 6,960 shares of the energy company’s stock valued at $349,000 after buying an additional 929 shares during the last quarter. Mutual of America Capital Management LLC grew its stake in shares of Devon Energy by 8.1% during the 1st quarter. Mutual of America Capital Management LLC now owns 161,471 shares of the energy company’s stock worth $8,103,000 after acquiring an additional 12,123 shares during the period. Finally, Summit Financial Wealth Advisors LLC increased its holdings in Devon Energy by 4.7% in the 1st quarter. Summit Financial Wealth Advisors LLC now owns 80,803 shares of the energy company’s stock worth $4,055,000 after acquiring an additional 3,646 shares during the last quarter. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Devon Energy Price Performance

DVN stock opened at $46.08 on Wednesday. The firm has a 50 day simple moving average of $48.03 and a two-hundred day simple moving average of $47.03. The stock has a market cap of $29.12 billion, a PE ratio of 8.79, a P/E/G ratio of 1.23 and a beta of 2.07. Devon Energy Co. has a one year low of $40.47 and a one year high of $55.09. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.04 and a quick ratio of 0.97.

Devon Energy (NYSE:DVNGet Free Report) last announced its earnings results on Wednesday, May 1st. The energy company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.06. Devon Energy had a net margin of 22.27% and a return on equity of 29.02%. The company had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.64 billion. During the same period in the previous year, the business earned $1.46 earnings per share. The firm’s quarterly revenue was down 5.9% compared to the same quarter last year. On average, analysts predict that Devon Energy Co. will post 5.25 EPS for the current fiscal year.

Devon Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $0.88 annualized dividend and a dividend yield of 1.91%. Devon Energy’s dividend payout ratio (DPR) is presently 16.79%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on DVN shares. Truist Financial dropped their price objective on shares of Devon Energy from $67.00 to $64.00 and set a “buy” rating on the stock in a report on Tuesday. Mizuho raised their price objective on shares of Devon Energy from $57.00 to $61.00 and gave the stock a “buy” rating in a report on Monday, May 13th. UBS Group boosted their target price on shares of Devon Energy from $48.00 to $57.00 and gave the company a “neutral” rating in a report on Wednesday, April 10th. Citigroup boosted their price objective on Devon Energy from $55.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Finally, Wells Fargo & Company upgraded Devon Energy from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $46.00 to $59.00 in a research note on Monday, April 1st. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Devon Energy currently has an average rating of “Moderate Buy” and an average target price of $59.41.

Check Out Our Latest Research Report on Devon Energy

Insider Activity at Devon Energy

In other Devon Energy news, EVP Tana K. Cashion sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $51.04, for a total value of $1,020,800.00. Following the completion of the sale, the executive vice president now owns 104,182 shares of the company’s stock, valued at $5,317,449.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.73% of the stock is currently owned by insiders.

Devon Energy Profile

(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.

Featured Stories

Want to see what other hedge funds are holding DVN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Devon Energy Co. (NYSE:DVNFree Report).

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

Receive News & Ratings for Devon Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Devon Energy and related companies with MarketBeat.com's FREE daily email newsletter.