Nisa Investment Advisors LLC boosted its holdings in Devon Energy Corp (NYSE:DVN) by 27.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 234,063 shares of the energy company’s stock after buying an additional 50,100 shares during the period. Nisa Investment Advisors LLC owned 0.06% of Devon Energy worth $2,654,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the business. BlackRock Inc. boosted its stake in Devon Energy by 6.5% in the 1st quarter. BlackRock Inc. now owns 31,773,581 shares of the energy company’s stock worth $219,557,000 after buying an additional 1,930,409 shares during the last quarter. Invesco Ltd. boosted its stake in Devon Energy by 14.3% in the 1st quarter. Invesco Ltd. now owns 27,933,596 shares of the energy company’s stock worth $193,021,000 after buying an additional 3,485,907 shares during the last quarter. State Street Corp boosted its stake in Devon Energy by 13.0% in the 1st quarter. State Street Corp now owns 24,499,871 shares of the energy company’s stock worth $169,294,000 after buying an additional 2,811,799 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Devon Energy by 2.1% in the 1st quarter. Victory Capital Management Inc. now owns 8,746,222 shares of the energy company’s stock worth $60,436,000 after buying an additional 179,417 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Devon Energy by 1.7% in the 1st quarter. Geode Capital Management LLC now owns 6,561,730 shares of the energy company’s stock worth $45,259,000 after buying an additional 106,796 shares during the last quarter. 81.86% of the stock is currently owned by hedge funds and other institutional investors.
Devon Energy stock opened at $10.49 on Friday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 2.61 and a current ratio of 2.61. Devon Energy Corp has a one year low of $4.70 and a one year high of $28.42. The stock’s 50 day moving average price is $11.28 and its 200 day moving average price is $13.78. The firm has a market capitalization of $4.01 billion, a PE ratio of 9.12 and a beta of 3.34.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Monday, September 14th will be issued a dividend of $0.11 per share. The ex-dividend date is Friday, September 11th. This represents a $0.44 annualized dividend and a yield of 4.19%. Devon Energy’s dividend payout ratio is presently 31.88%.
A number of analysts have issued reports on the company. SunTrust Banks raised their price target on Devon Energy from $13.00 to $14.00 and gave the stock a “hold” rating in a research note on Friday, June 19th. Morgan Stanley lifted their price objective on Devon Energy from $10.00 to $11.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 19th. Scotiabank reduced their price objective on Devon Energy from $20.00 to $16.00 and set a “sector outperform” rating on the stock in a research note on Monday, July 13th. Piper Sandler raised Devon Energy from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $10.00 to $15.00 in a research note on Tuesday, July 21st. Finally, Barclays lifted their price objective on Devon Energy from $11.00 to $13.00 and gave the company an “overweight” rating in a research note on Wednesday, June 3rd. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $18.73.
About Devon Energy
Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States and Canada. It operates approximately 12,900 gross wells. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.
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