Lodestone Wealth Management LLC Buys 7,433 Shares of Devon Energy Co. (NYSE:DVN)

Lodestone Wealth Management LLC increased its stake in shares of Devon Energy Co. (NYSE:DVN) by 22.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 40,538 shares of the energy company’s stock after buying an additional 7,433 shares during the period. Lodestone Wealth Management LLC’s holdings in Devon Energy were worth $1,586,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of DVN. State of Alaska Department of Revenue grew its position in shares of Devon Energy by 0.5% in the first quarter. State of Alaska Department of Revenue now owns 69,520 shares of the energy company’s stock valued at $3,488,000 after purchasing an additional 330 shares during the last quarter. Norden Group LLC bought a new stake in Devon Energy in the 1st quarter valued at $1,330,000. First Trust Direct Indexing L.P. grew its holdings in Devon Energy by 5.2% in the 1st quarter. First Trust Direct Indexing L.P. now owns 17,207 shares of the energy company’s stock valued at $863,000 after buying an additional 857 shares in the last quarter. Diversify Advisory Services LLC bought a new position in Devon Energy during the 1st quarter worth $246,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Devon Energy by 68.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 173,601 shares of the energy company’s stock worth $8,514,000 after buying an additional 70,354 shares in the last quarter. 69.72% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on DVN. Piper Sandler decreased their price target on shares of Devon Energy from $57.00 to $56.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 15th. Mizuho decreased their target price on shares of Devon Energy from $53.00 to $51.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 9th. Wells Fargo & Company reiterated a “sector outperform” rating on shares of Devon Energy in a research report on Friday, October 18th. Scotiabank reduced their price target on Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $57.00 price objective on shares of Devon Energy in a report on Tuesday, September 3rd. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $52.53.

Devon Energy Trading Down 0.9 %

Shares of Devon Energy stock opened at $38.32 on Friday. The firm’s 50 day moving average is $41.04 and its 200 day moving average is $45.33. The firm has a market capitalization of $24.00 billion, a PE ratio of 6.95, a price-to-earnings-growth ratio of 1.19 and a beta of 2.03. Devon Energy Co. has a 1 year low of $37.76 and a 1 year high of $55.09. The company has a current ratio of 1.11, a quick ratio of 1.03 and a debt-to-equity ratio of 0.45.

Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, August 6th. The energy company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.15. Devon Energy had a net margin of 22.60% and a return on equity of 29.14%. The firm had revenue of $3.92 billion for the quarter, compared to analysts’ expectations of $3.90 billion. During the same quarter in the previous year, the firm posted $1.18 earnings per share. The company’s revenue was up 13.4% on a year-over-year basis. Equities research analysts forecast that Devon Energy Co. will post 4.93 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a $0.22 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.30%. Devon Energy’s payout ratio is presently 15.97%.

Devon Energy 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.