Devon Energy Co. (NYSE:DVN) Shares Acquired by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. increased its position in Devon Energy Co. (NYSE:DVN) by 8.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 101,895 shares of the energy company’s stock after acquiring an additional 8,350 shares during the period. Atria Wealth Solutions Inc.’s holdings in Devon Energy were worth $4,616,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Lord Abbett & CO. LLC lifted its holdings in shares of Devon Energy by 15.5% during the third quarter. Lord Abbett & CO. LLC now owns 549,710 shares of the energy company’s stock valued at $26,221,000 after purchasing an additional 73,570 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of Devon Energy by 2.7% during the third quarter. Nordea Investment Management AB now owns 373,757 shares of the energy company’s stock valued at $17,974,000 after purchasing an additional 9,823 shares during the last quarter. Atria Investments Inc lifted its holdings in shares of Devon Energy by 64.4% during the third quarter. Atria Investments Inc now owns 54,639 shares of the energy company’s stock valued at $2,606,000 after purchasing an additional 21,400 shares during the last quarter. Pearl River Capital LLC lifted its holdings in shares of Devon Energy by 367.7% during the third quarter. Pearl River Capital LLC now owns 75,042 shares of the energy company’s stock valued at $3,580,000 after purchasing an additional 58,997 shares during the last quarter. Finally, Argent Trust Co lifted its holdings in shares of Devon Energy by 22.1% during the third quarter. Argent Trust Co now owns 86,795 shares of the energy company’s stock valued at $4,140,000 after purchasing an additional 15,715 shares during the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Stock Performance

Shares of DVN stock opened at $52.72 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.07 and a quick ratio of 0.99. The firm has a market cap of $33.48 billion, a P/E ratio of 9.04 and a beta of 2.19. The stock’s 50-day moving average is $48.88 and its two-hundred day moving average is $46.18. Devon Energy Co. has a fifty-two week low of $40.47 and a fifty-two week high of $55.09.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, February 27th. The energy company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.02. The business had revenue of $4.15 billion for the quarter, compared to analyst estimates of $3.88 billion. Devon Energy had a return on equity of 31.72% and a net margin of 24.56%. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.66 EPS. Analysts predict that Devon Energy Co. will post 5.25 earnings per share for the current fiscal year.

Devon Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date of this dividend was Thursday, March 14th. Devon Energy’s dividend payout ratio is 15.09%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Scotiabank upped their target price on Devon Energy from $53.00 to $67.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. Morgan Stanley increased their price objective on Devon Energy from $49.00 to $50.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Barclays began coverage on Devon Energy in a research note on Wednesday, April 10th. They issued an “equal weight” rating and a $59.00 price objective for the company. Truist Financial increased their price objective on Devon Energy from $66.00 to $69.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. Finally, Raymond James reduced their price objective on Devon Energy from $53.00 to $52.00 and set an “outperform” rating for the company in a research note on Wednesday, January 24th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $58.33.

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.