Devon Energy Corporation $DVN Stock Position Lowered by Nepsis Inc.

Nepsis Inc. trimmed its holdings in Devon Energy Corporation (NYSE:DVN) by 9.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 470,612 shares of the energy company’s stock after selling 49,724 shares during the period. Devon Energy makes up about 5.2% of Nepsis Inc.’s holdings, making the stock its 4th largest holding. Nepsis Inc.’s holdings in Devon Energy were worth $16,500,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its stake in shares of Devon Energy by 1.2% in the 2nd quarter. Geode Capital Management LLC now owns 18,595,683 shares of the energy company’s stock valued at $589,399,000 after purchasing an additional 218,034 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Devon Energy by 78.7% during the 2nd quarter. AQR Capital Management LLC now owns 6,360,499 shares of the energy company’s stock worth $202,327,000 after purchasing an additional 2,802,137 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Devon Energy by 1.6% in the second quarter. Charles Schwab Investment Management Inc. now owns 4,784,270 shares of the energy company’s stock valued at $152,188,000 after buying an additional 77,433 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its position in Devon Energy by 83.9% in the second quarter. Adage Capital Partners GP L.L.C. now owns 4,568,092 shares of the energy company’s stock valued at $145,311,000 after buying an additional 2,083,600 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in Devon Energy by 3.7% during the second quarter. Legal & General Group Plc now owns 3,179,937 shares of the energy company’s stock worth $101,154,000 after buying an additional 112,537 shares during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Price Performance

Shares of DVN opened at $35.76 on Friday. The company has a market cap of $22.43 billion, a P/E ratio of 8.41, a PEG ratio of 2.96 and a beta of 0.60. Devon Energy Corporation has a fifty-two week low of $25.89 and a fifty-two week high of $38.88. The company has a quick ratio of 0.87, a current ratio of 0.96 and a debt-to-equity ratio of 0.48. The firm’s 50 day moving average price is $35.96 and its 200 day moving average price is $34.51.

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

Devon Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 30th. Investors of record on Monday, December 15th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Monday, December 15th. Devon Energy’s payout ratio is presently 22.59%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on DVN shares. Piper Sandler reduced their price target on shares of Devon Energy from $57.00 to $55.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 18th. Raymond James Financial lifted their target price on shares of Devon Energy from $42.00 to $44.00 and gave the company an “outperform” rating in a report on Wednesday, December 3rd. Wells Fargo & Company cut their target price on Devon Energy from $43.00 to $37.00 and set an “overweight” rating on the stock in a research report on Friday, October 17th. Capital One Financial lowered their price target on Devon Energy from $52.00 to $51.00 and set an “overweight” rating for the company in a research report on Tuesday, November 11th. Finally, JPMorgan Chase & Co. raised Devon Energy from a “neutral” rating to an “overweight” rating and dropped their price objective for the company from $49.00 to $44.00 in a research note on Monday, December 8th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.62.

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.