Perpetual Ltd Makes New $240,000 Investment in Devon Energy Co. (NYSE:DVN)

Perpetual Ltd bought a new position in Devon Energy Co. (NYSE:DVN) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 6,135 shares of the energy company’s stock, valued at approximately $240,000.

Several other large investors have also added to or reduced their stakes in DVN. Triad Wealth Partners LLC bought a new position in Devon Energy in the 2nd quarter worth about $27,000. Tradewinds Capital Management LLC bought a new stake in shares of Devon Energy during the 1st quarter valued at about $30,000. 1620 Investment Advisors Inc. bought a new stake in shares of Devon Energy during the 2nd quarter valued at about $34,000. PSI Advisors LLC boosted its position 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 valued at $36,000 after acquiring an additional 300 shares during the last quarter. Finally, LRI Investments LLC bought a new stake in shares of Devon Energy during the 1st quarter valued at about $39,000. Institutional investors own 69.72% of the company’s stock.

Devon Energy Price Performance

DVN opened at $42.96 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.03 and a current ratio of 1.11. Devon Energy Co. has a 52-week low of $37.76 and a 52-week high of $55.09. The stock has a market capitalization of $26.90 billion, a PE ratio of 7.80, a price-to-earnings-growth ratio of 1.27 and a beta of 2.02. The stock’s 50 day moving average price is $42.37 and its 200-day moving average price is $46.60.

Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, August 6th. The energy company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.15. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. The firm had revenue of $3.92 billion for the quarter, compared to analysts’ expectations of $3.90 billion. During the same period in the previous year, the firm earned $1.18 earnings per share. The business’s revenue was up 13.4% compared to the same quarter last year. On average, equities research analysts predict that Devon Energy Co. will post 5.01 EPS for the current year.

Devon Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a dividend of $0.22 per share. The ex-dividend date was Friday, September 13th. This represents a $0.88 annualized dividend and a dividend yield of 2.05%. Devon Energy’s dividend payout ratio (DPR) is presently 15.97%.

Analyst Ratings Changes

DVN has been the subject of a number of research analyst reports. StockNews.com downgraded Devon Energy from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Jefferies Financial Group began coverage on Devon Energy in a research report on Thursday, October 3rd. They set a “hold” rating and a $45.00 price target for the company. Wolfe Research began coverage on Devon Energy in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Mizuho dropped their target price on Devon Energy from $53.00 to $51.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Piper Sandler dropped their target price on Devon Energy from $65.00 to $57.00 and set an “overweight” rating for the company in a research report on Thursday, August 15th. Eight investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $52.63.

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.