Thrivent Financial for Lutherans Increases Holdings in Devon Energy Corporation $DVN

Thrivent Financial for Lutherans increased its holdings in shares of Devon Energy Corporation (NYSE:DVN) by 5.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,712,190 shares of the energy company’s stock after purchasing an additional 246,179 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Devon Energy were worth $165,210,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DVN. Woodline Partners LP grew its holdings in Devon Energy by 98.8% during the 1st quarter. Woodline Partners LP now owns 115,780 shares of the energy company’s stock valued at $4,330,000 after buying an additional 57,555 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in Devon Energy during the second quarter valued at $403,000. Trust Co. of Vermont increased its holdings in Devon Energy by 241.3% in the 2nd quarter. Trust Co. of Vermont now owns 942 shares of the energy company’s stock valued at $30,000 after acquiring an additional 666 shares during the last quarter. Hilltop National Bank purchased a new stake in Devon Energy in the 2nd quarter worth $445,000. Finally, Ameritas Advisory Services LLC bought a new position in shares of Devon Energy during the 2nd quarter valued at about $65,000. Institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Performance

NYSE:DVN opened at $40.14 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.87 and a current ratio of 0.96. The stock’s fifty day moving average is $36.99 and its 200 day moving average is $35.02. The firm has a market capitalization of $25.18 billion, a PE ratio of 9.44, a PEG ratio of 3.64 and a beta of 0.60. Devon Energy Corporation has a fifty-two week low of $25.89 and a fifty-two week high of $41.31.

Devon Energy (NYSE:DVN) last announced its earnings results on Wednesday, November 5th. The energy company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.11. Devon Energy had a net margin of 15.56% and a return on equity of 18.14%. The business had revenue of $0.00 million for the quarter, compared to the consensus estimate of $4.10 billion. During the same quarter in the prior year, the firm posted $1.10 earnings per share. On average, sell-side analysts anticipate that Devon Energy Corporation will post 4.85 earnings per share for the current year.

Devon Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Monday, December 15th. Devon Energy’s payout ratio is 22.59%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on DVN shares. Sanford C. Bernstein reduced their target price on Devon Energy from $48.00 to $42.00 and set an “outperform” rating on the stock in a report on Monday, January 5th. Scotiabank downgraded Devon Energy from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $47.00 to $41.00 in a research note on Thursday, January 15th. Royal Bank Of Canada set a $42.00 target price on Devon Energy and gave the company a “sector perform” rating in a research report on Friday, October 10th. Morgan Stanley reduced their price target on shares of Devon Energy from $48.00 to $46.00 and set an “overweight” rating on the stock in a research report on Friday, January 23rd. Finally, Zacks Research lowered shares of Devon Energy from a “hold” rating to a “strong sell” rating in a research report on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $44.76.

Devon Energy Company Profile

Devon Energy Corporation (NYSE: DVN) is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.

Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.