Devon Energy Corporation $DVN Shares Bought by Police & Firemen s Retirement System of New Jersey

Police & Firemen s Retirement System of New Jersey increased its position in shares of Devon Energy Corporation (NYSE:DVN) by 4.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 95,270 shares of the energy company’s stock after purchasing an additional 3,661 shares during the period. Police & Firemen s Retirement System of New Jersey’s holdings in Devon Energy were worth $3,031,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. TD Asset Management Inc grew its stake in shares of Devon Energy by 6.4% during the 2nd quarter. TD Asset Management Inc now owns 267,322 shares of the energy company’s stock valued at $8,504,000 after acquiring an additional 16,106 shares during the period. Savvy Advisors Inc. purchased a new position in Devon Energy during the first quarter valued at approximately $384,000. Harvest Fund Management Co. Ltd bought a new position in shares of Devon Energy in the first quarter worth approximately $515,000. Stephens Inc. AR boosted its position in shares of Devon Energy by 90.4% in the second quarter. Stephens Inc. AR now owns 72,546 shares of the energy company’s stock worth $2,308,000 after purchasing an additional 34,448 shares during the period. Finally, Scott & Selber Inc. purchased a new stake in shares of Devon Energy in the second quarter worth $2,455,000. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on DVN. Piper Sandler cut their target price on Devon Energy from $58.00 to $57.00 and set an “overweight” rating for the company in a research report on Thursday, August 14th. Roth Capital initiated coverage on Devon Energy in a research note on Monday, October 13th. They issued a “buy” rating and a $42.00 price target for the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Devon Energy in a report on Thursday. The Goldman Sachs Group lifted their price objective on shares of Devon Energy from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Finally, Barclays dropped their target price on shares of Devon Energy from $42.00 to $40.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $43.86.

Devon Energy Stock Down 2.0%

Shares of NYSE:DVN opened at $35.12 on Tuesday. The firm has a market capitalization of $22.03 billion, a PE ratio of 7.88, a price-to-earnings-growth ratio of 2.49 and a beta of 1.01. The business has a 50 day simple moving average of $33.93 and a two-hundred day simple moving average of $33.43. Devon Energy Corporation has a 1 year low of $25.89 and a 1 year high of $39.65. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.22 and a quick ratio of 1.13.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Wednesday, November 5th. The energy company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.93 by $0.11. The company had revenue of $0.00 million for the quarter, compared to the consensus estimate of $4.10 billion. Devon Energy had a net margin of 16.57% and a return on equity of 18.59%. During the same quarter last year, the firm posted $1.10 EPS. On average, equities analysts predict that Devon Energy Corporation will post 4.85 EPS for the current year.

Devon Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be issued a dividend of $0.24 per share. The ex-dividend date is Monday, December 15th. This represents a $0.96 dividend on an annualized basis and a yield of 2.7%. Devon Energy’s dividend payout ratio is currently 22.59%.

About Devon Energy

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.