Verus Capital Partners LLC Has $843,000 Stock Holdings in Devon Energy Co. (NYSE:DVN)

Verus Capital Partners LLC boosted its holdings in shares of Devon Energy Co. (NYSE:DVN) by 33.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 21,544 shares of the energy company’s stock after purchasing an additional 5,350 shares during the quarter. Verus Capital Partners LLC’s holdings in Devon Energy were worth $843,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Triad Wealth Partners LLC acquired a new stake in shares of Devon Energy in the second quarter worth $27,000. 1620 Investment Advisors Inc. acquired a new stake in Devon Energy in the 2nd quarter worth $34,000. PSI Advisors LLC increased its holdings in shares of Devon Energy by 66.7% during the 2nd quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock worth $36,000 after purchasing an additional 300 shares during the period. LRI Investments LLC acquired a new position in shares of Devon Energy during the first quarter valued at about $39,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of Devon Energy in the third quarter valued at about $35,000. 69.72% of the stock is owned by institutional investors.

Devon Energy Price Performance

Devon Energy stock opened at $38.33 on Wednesday. Devon Energy Co. has a 52 week low of $37.76 and a 52 week high of $55.09. The firm has a market cap of $25.18 billion, a P/E ratio of 7.11, a P/E/G ratio of 1.21 and a beta of 2.03. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.03 and a current ratio of 1.11. The business’s fifty day moving average is $40.27 and its two-hundred day moving average is $44.59.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.01. The firm had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.72 billion. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The company’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.65 EPS. Equities research analysts forecast that Devon Energy Co. will post 4.89 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date is Friday, December 13th. Devon Energy’s dividend payout ratio is currently 16.33%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on DVN shares. Jefferies Financial Group assumed coverage on Devon Energy in a research note on Thursday, October 3rd. They set a “hold” rating and a $45.00 price target on the stock. Truist Financial cut Devon Energy from a “buy” rating to a “hold” rating and lowered their price objective for the company from $49.00 to $43.00 in a research report on Thursday, November 7th. BMO Capital Markets reduced their target price on Devon Energy from $52.00 to $48.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Susquehanna lowered their price target on shares of Devon Energy from $63.00 to $62.00 and set a “positive” rating on the stock in a report on Friday, October 18th. Finally, UBS Group reduced their price objective on shares of Devon Energy from $53.00 to $47.00 and set a “neutral” rating for the company in a report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $51.80.

Devon Energy Company 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.