Abich Financial Wealth Management LLC Has $58,000 Stake in Devon Energy Co. (NYSE:DVN)

Abich Financial Wealth Management LLC lowered its holdings in shares of Devon Energy Co. (NYSE:DVN) by 53.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,491 shares of the energy company’s stock after selling 1,718 shares during the quarter. Abich Financial Wealth Management LLC’s holdings in Devon Energy were worth $58,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Triad Wealth Partners LLC bought a new position in Devon Energy in the second quarter valued at approximately $27,000. Tradewinds Capital Management LLC acquired a new stake in shares of Devon Energy in the 1st quarter valued at about $30,000. 1620 Investment Advisors Inc. bought a new stake in shares of Devon Energy in the second quarter valued at about $34,000. PSI Advisors LLC lifted its stake in 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 in the last quarter. Finally, LRI Investments LLC bought a new stake in Devon Energy during the first quarter worth about $39,000. Institutional investors own 69.72% of the company’s stock.

Analyst Upgrades and Downgrades

DVN has been the topic of a number of research analyst reports. BMO Capital Markets dropped their price target 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. Mizuho lowered their price target on shares of Devon Energy from $53.00 to $51.00 and set an “outperform” rating on the stock in a report on Wednesday, October 9th. StockNews.com downgraded Devon Energy from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Evercore ISI decreased 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, Truist Financial dropped their target price on Devon Energy from $60.00 to $49.00 and set a “buy” rating for the company in a report on Monday, September 30th. Nine investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, Devon Energy currently has an average rating of “Moderate Buy” and an average price target of $52.53.

Devon Energy Trading Down 0.2 %

Shares of DVN stock traded down $0.07 during mid-day trading on Tuesday, hitting $38.52. The company’s stock had a trading volume of 601,524 shares, compared to its average volume of 7,310,217. Devon Energy Co. has a 52 week low of $37.76 and a 52 week high of $55.09. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.03 and a current ratio of 1.11. The company’s fifty day simple moving average is $41.49 and its 200-day simple moving average is $45.64. The company has a market cap of $24.12 billion, a PE ratio of 7.00, a P/E/G ratio of 1.22 and a beta of 2.02.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, August 6th. The energy company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.15. The firm had revenue of $3.92 billion during the quarter, compared to analyst estimates of $3.90 billion. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.18 EPS. As a group, equities research analysts expect that Devon Energy Co. will post 4.98 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date was Friday, September 13th. Devon Energy’s dividend payout ratio is 15.97%.

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.