White Knight Strategic Wealth Advisors LLC Has $853,000 Stake in Devon Energy Co. (NYSE:DVN)

White Knight Strategic Wealth Advisors LLC grew its holdings in Devon Energy Co. (NYSE:DVN) by 25.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 21,792 shares of the energy company’s stock after purchasing an additional 4,392 shares during the quarter. White Knight Strategic Wealth Advisors LLC’s holdings in Devon Energy were worth $853,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Triad Wealth Partners LLC acquired a new position in shares of Devon Energy during the second quarter valued at about $27,000. 1620 Investment Advisors Inc. acquired a new position in shares of Devon Energy in the 2nd quarter valued at $34,000. Capital Performance Advisors LLP bought a new position in shares of Devon Energy during the 3rd quarter worth about $35,000. PSI Advisors LLC raised its position in Devon Energy by 66.7% in the second quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock worth $36,000 after purchasing an additional 300 shares in the last quarter. Finally, LRI Investments LLC bought a new position in Devon Energy during the first quarter worth about $39,000. 69.72% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. StockNews.com lowered Devon Energy from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Truist Financial cut shares of Devon Energy from a “buy” rating to a “hold” rating and dropped their target price for the stock from $49.00 to $43.00 in a research report on Thursday, November 7th. Citigroup decreased their price objective on shares of Devon Energy from $55.00 to $48.00 and set a “buy” rating on the stock in a research note on Tuesday. Scotiabank lowered their price objective on shares of Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $57.00 price objective on shares of Devon Energy in a research report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $51.15.

Devon Energy Stock Up 0.3 %

Shares of DVN stock opened at $37.95 on Friday. Devon Energy Co. has a 52-week low of $37.28 and a 52-week high of $55.09. The stock has a market cap of $24.93 billion, a price-to-earnings ratio of 7.04, a PEG ratio of 1.20 and a beta of 2.03. The firm’s 50-day moving average is $39.74 and its 200-day moving average is $43.64. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11.

Devon Energy (NYSE:DVN) last issued its earnings results on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, topping the consensus estimate of $1.09 by $0.01. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The company had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same period in the previous year, the company posted $1.65 EPS. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. Sell-side analysts predict that Devon Energy Co. will post 4.79 EPS for the current year.

Devon Energy Dividend Announcement

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 paid a $0.22 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.32%. Devon Energy’s dividend payout ratio (DPR) is currently 16.33%.

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.