Thrivent Financial for Lutherans Acquires 246,179 Shares of Devon Energy Corporation $DVN

Thrivent Financial for Lutherans grew its holdings in Devon Energy Corporation (NYSE:DVN) by 5.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,712,190 shares of the energy company’s stock after purchasing an additional 246,179 shares during the period. Thrivent Financial for Lutherans owned about 0.74% of Devon Energy worth $165,210,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Everhart Financial Group Inc. increased its holdings in Devon Energy by 27.6% in the 3rd quarter. Everhart Financial Group Inc. now owns 18,626 shares of the energy company’s stock worth $653,000 after buying an additional 4,032 shares in the last quarter. Howard Capital Management Inc. boosted its holdings in shares of Devon Energy by 5.8% during the 3rd quarter. Howard Capital Management Inc. now owns 15,629 shares of the energy company’s stock valued at $548,000 after acquiring an additional 861 shares during the last quarter. National Pension Service grew its stake in shares of Devon Energy by 6.6% in the third quarter. National Pension Service now owns 1,316,245 shares of the energy company’s stock worth $46,148,000 after acquiring an additional 82,065 shares during the period. AlphaQuest LLC grew its stake in shares of Devon Energy by 835.9% in the third quarter. AlphaQuest LLC now owns 41,049 shares of the energy company’s stock worth $1,439,000 after acquiring an additional 36,663 shares during the period. Finally, Summit Global Investments purchased a new position in shares of Devon Energy during the third quarter valued at approximately $783,000. 69.72% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Evercore ISI raised their target price on shares of Devon Energy from $34.00 to $37.00 and gave the stock an “in-line” rating in a report on Monday, October 6th. Raymond James Financial raised their price target on Devon Energy from $42.00 to $44.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 3rd. Argus upgraded Devon Energy to a “strong-buy” rating in a research report on Wednesday, November 26th. Mizuho increased their target price on Devon Energy from $40.00 to $43.00 and gave the company an “outperform” rating in a report on Friday, December 12th. Finally, Benchmark restated a “buy” rating on shares of Devon Energy in a research note on Friday, January 16th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $44.76.

Devon Energy Stock Performance

Shares of DVN opened at $40.14 on Friday. The business has a 50-day simple moving average of $36.99 and a two-hundred day simple moving average of $35.02. The company has a quick ratio of 0.87, a current ratio of 0.96 and a debt-to-equity ratio of 0.48. Devon Energy Corporation has a 52 week low of $25.89 and a 52 week high of $41.31. The stock has a market cap of $25.18 billion, a price-to-earnings ratio of 9.44, a PEG ratio of 3.64 and a beta of 0.60.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Wednesday, November 5th. The energy company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.11. The company had revenue of $0.00 million during the quarter, compared to the consensus estimate of $4.10 billion. Devon Energy had a return on equity of 18.14% and a net margin of 15.56%.During the same period in the previous year, the company posted $1.10 EPS. On average, analysts expect that Devon Energy Corporation will post 4.85 EPS for the current year.

Devon Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th were paid a $0.24 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.4%. Devon Energy’s dividend payout ratio is 22.59%.

Devon Energy Company Profile

Devon Energy Corporation (NYSE: DVN) is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.

Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.