Swiss National Bank Sells 108,000 Shares of Devon Energy Corporation $DVN

Swiss National Bank cut its stake in shares of Devon Energy Corporation (NYSE:DVN) by 5.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,758,339 shares of the energy company’s stock after selling 108,000 shares during the quarter. Swiss National Bank’s holdings in Devon Energy were worth $61,647,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Woodline Partners LP grew its holdings in shares of Devon Energy by 98.8% in the first quarter. Woodline Partners LP now owns 115,780 shares of the energy company’s stock worth $4,330,000 after purchasing an additional 57,555 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in shares of Devon Energy in the second quarter worth $403,000. Metis Global Partners LLC raised its holdings in Devon Energy by 2.7% during the 2nd quarter. Metis Global Partners LLC now owns 34,995 shares of the energy company’s stock valued at $1,113,000 after buying an additional 917 shares during the last quarter. AE Wealth Management LLC raised its holdings in Devon Energy by 4.4% during the 2nd quarter. AE Wealth Management LLC now owns 15,564 shares of the energy company’s stock valued at $495,000 after buying an additional 660 shares during the last quarter. Finally, Prospera Financial Services Inc boosted its position in Devon Energy by 44.9% during the 2nd quarter. Prospera Financial Services Inc now owns 34,163 shares of the energy company’s stock valued at $1,087,000 after buying an additional 10,592 shares during the period. 69.72% of the stock is currently owned by institutional investors.

Devon Energy Stock Up 3.8%

Shares of Devon Energy stock opened at $45.35 on Thursday. The company has a current ratio of 0.98, a quick ratio of 0.90 and a debt-to-equity ratio of 0.48. The company’s fifty day simple moving average is $40.93 and its two-hundred day simple moving average is $37.09. The company has a market cap of $28.12 billion, a P/E ratio of 10.88, a PEG ratio of 4.42 and a beta of 0.56. Devon Energy Corporation has a 12-month low of $25.89 and a 12-month high of $46.15.

Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, February 17th. The energy company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.81 by $0.01. The firm had revenue of $17.19 billion during the quarter, compared to analysts’ expectations of $3.67 billion. Devon Energy had a net margin of 15.37% and a return on equity of 16.28%. The company’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same period last year, the company posted $1.10 EPS. Research analysts anticipate that Devon Energy Corporation will post 4.85 EPS for the current year.

Devon Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be issued a $0.24 dividend. The ex-dividend date is Friday, March 13th. This represents a $0.96 annualized dividend and a yield of 2.1%. Devon Energy’s dividend payout ratio (DPR) is 23.02%.

Analysts Set New Price Targets

DVN has been the topic of a number of recent analyst reports. Johnson Rice cut their price target on shares of Devon Energy from $70.00 to $62.00 and set a “buy” rating on the stock in a report on Friday, December 5th. Argus upped their price objective on shares of Devon Energy from $41.00 to $51.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Piper Sandler increased their target price on shares of Devon Energy from $55.00 to $59.00 and gave the stock an “overweight” rating in a report on Thursday, March 5th. Siebert Williams Shank raised their target price on Devon Energy from $46.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Finally, Weiss Ratings upgraded Devon Energy from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, January 28th. Twenty-three equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, Devon Energy currently has a consensus rating of “Moderate Buy” and an average price target of $48.54.

About Devon Energy

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.