Nebula Research & Development LLC Has $2.81 Million Position in Devon Energy Corporation $DVN

Nebula Research & Development LLC increased its holdings in shares of Devon Energy Corporation (NYSE:DVN) by 125.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 88,226 shares of the energy company’s stock after buying an additional 49,111 shares during the period. Nebula Research & Development LLC’s holdings in Devon Energy were worth $2,806,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Opal Wealth Advisors LLC acquired a new position in Devon Energy during the 2nd quarter worth about $25,000. Trust Co. of Vermont lifted its stake in shares of Devon Energy by 241.3% in the second quarter. Trust Co. of Vermont now owns 942 shares of the energy company’s stock worth $30,000 after acquiring an additional 666 shares during the period. FNY Investment Advisers LLC bought a new stake in Devon Energy in the second quarter valued at approximately $34,000. Elevation Point Wealth Partners LLC acquired a new stake in Devon Energy during the 2nd quarter valued at approximately $34,000. Finally, SouthState Corp increased its position in Devon Energy by 350.5% during the 1st quarter. SouthState Corp now owns 991 shares of the energy company’s stock valued at $37,000 after purchasing an additional 771 shares during the period. Institutional investors own 69.72% of the company’s stock.

Devon Energy Trading Up 2.7%

Shares of Devon Energy stock opened at $38.39 on Thursday. The stock has a market capitalization of $24.08 billion, a PE ratio of 9.03, a price-to-earnings-growth ratio of 2.88 and a beta of 0.62. Devon Energy Corporation has a 52 week low of $25.89 and a 52 week high of $38.88. The stock has a 50 day moving average price of $34.52 and a two-hundred day moving average price of $33.97. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.87 and a current ratio of 0.96.

Devon Energy (NYSE:DVN) last issued its earnings results on Wednesday, November 5th. The energy company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.11. Devon Energy had a return on equity of 18.14% and a net margin of 15.56%.The company had revenue of $0.00 million for the quarter, compared to analysts’ expectations of $4.10 billion. During the same period last year, the business earned $1.10 EPS. As a group, equities analysts anticipate that Devon Energy Corporation will post 4.85 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Monday, December 15th. Devon Energy’s dividend payout ratio (DPR) is currently 22.59%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on DVN shares. The Goldman Sachs Group upped their price objective on shares of Devon Energy from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Mizuho cut their price target on shares of Devon Energy from $43.00 to $40.00 and set an “outperform” rating on the stock in a research report on Monday, September 15th. Piper Sandler decreased their price target on Devon Energy from $57.00 to $55.00 and set an “overweight” rating for the company in a report on Tuesday, November 18th. Barclays dropped their price objective on Devon Energy from $42.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 7th. Finally, Morgan Stanley decreased their target price on Devon Energy from $49.00 to $47.00 and set an “overweight” rating for the company in a research note on Tuesday, October 14th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $44.55.

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.