Versor Investments LP Takes Position in Devon Energy Co. (NYSE:DVN)

Versor Investments LP purchased a new stake in Devon Energy Co. (NYSE:DVN) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 26,800 shares of the energy company’s stock, valued at approximately $1,048,000.

Several other large investors have also modified their holdings of DVN. Vanguard Group Inc. increased its holdings in shares of Devon Energy by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 76,457,056 shares of the energy company’s stock valued at $3,836,615,000 after acquiring an additional 2,559,039 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of Devon Energy by 16.8% in the 2nd quarter. Pacer Advisors Inc. now owns 9,913,516 shares of the energy company’s stock valued at $469,901,000 after purchasing an additional 1,428,776 shares during the period. Raymond James & Associates boosted its position in shares of Devon Energy by 1.5% in the 2nd quarter. Raymond James & Associates now owns 9,183,778 shares of the energy company’s stock valued at $435,311,000 after purchasing an additional 138,919 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Devon Energy by 16.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,793,217 shares of the energy company’s stock valued at $416,779,000 after purchasing an additional 1,255,543 shares during the period. Finally, Thrivent Financial for Lutherans boosted its position in shares of Devon Energy by 15.9% in the 2nd quarter. Thrivent Financial for Lutherans now owns 5,094,017 shares of the energy company’s stock valued at $241,456,000 after purchasing an additional 699,743 shares during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Stock Up 0.2 %

Shares of NYSE:DVN opened at $38.96 on Tuesday. The firm has a market cap of $25.59 billion, a P/E ratio of 7.23, a P/E/G ratio of 1.21 and a beta of 2.03. The company has a quick ratio of 1.03, a current ratio of 1.11 and a debt-to-equity ratio of 0.61. Devon Energy Co. has a 12-month low of $37.76 and a 12-month high of $55.09. The business has a fifty day simple moving average of $40.36 and a 200 day simple moving average of $44.69.

Devon Energy (NYSE:DVN) last issued its earnings results on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.01. The business had revenue of $4.02 billion during 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%. The firm’s revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.65 EPS. Analysts predict that Devon Energy Co. will post 4.89 earnings per share for the current year.

Devon Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be paid a $0.22 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.26%. Devon Energy’s payout ratio is presently 16.33%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. TD Cowen cut their target price on Devon Energy from $54.00 to $46.00 and set a “hold” rating for the company in a research note on Tuesday, November 5th. Susquehanna dropped their price objective on Devon Energy from $63.00 to $62.00 and set a “positive” rating for the company in a research note on Friday, October 18th. StockNews.com downgraded Devon Energy from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Truist Financial downgraded Devon Energy from a “buy” rating to a “hold” rating and dropped their price objective for the company from $49.00 to $43.00 in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. dropped their price objective on Devon Energy from $64.00 to $51.00 and set an “overweight” rating for the company in a research note on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $51.80.

Devon Energy Company Profile

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.