Swiss National Bank Sells 108,000 Shares of Devon Energy Corporation $DVN

Swiss National Bank lessened its holdings in Devon Energy Corporation (NYSE:DVN) by 5.8% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,758,339 shares of the energy company’s stock after selling 108,000 shares during the period. Swiss National Bank owned 0.28% of Devon Energy worth $61,647,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. PFS Partners LLC bought a new position in Devon Energy in the 3rd quarter worth about $25,000. First Horizon Corp bought a new stake in shares of Devon Energy during the 3rd quarter valued at about $26,000. Caldwell Trust Co purchased a new position in shares of Devon Energy during the second quarter worth about $25,000. Ameriflex Group Inc. grew its holdings in shares of Devon Energy by 702.0% during the third quarter. Ameriflex Group Inc. now owns 802 shares of the energy company’s stock worth $28,000 after purchasing an additional 702 shares in the last quarter. Finally, Accredited Wealth Management LLC increased its position in shares of Devon Energy by 61.6% in the third quarter. Accredited Wealth Management LLC now owns 808 shares of the energy company’s stock worth $28,000 after purchasing an additional 308 shares during the last quarter. Institutional investors own 69.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on DVN shares. TD Cowen raised shares of Devon Energy to a “hold” rating in a research note on Monday, February 9th. Johnson Rice cut their price target on shares of Devon Energy from $70.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, December 5th. Barclays increased their price target on shares of Devon Energy from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Monday, February 23rd. Wolfe Research lifted their price objective on shares of Devon Energy from $58.00 to $64.00 in a report on Monday. Finally, Raymond James Financial upped their target price on shares of Devon Energy from $44.00 to $52.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 11th. Twenty-three analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $48.54.

Devon Energy Stock Up 3.8%

Shares of DVN opened at $45.35 on Thursday. The firm has a market cap of $28.12 billion, a P/E ratio of 10.88, a P/E/G ratio of 4.42 and a beta of 0.56. The stock has a 50 day simple moving average of $40.93 and a two-hundred day simple moving average of $37.09. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.98 and a quick ratio of 0.90. Devon Energy Corporation has a 1 year low of $25.89 and a 1 year high of $46.15.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, February 17th. The energy company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.81 by $0.01. The firm had revenue of $17.19 billion for the quarter, compared to the consensus estimate of $3.67 billion. Devon Energy had a net margin of 15.37% and a return on equity of 16.28%. The business’s revenue was down 6.4% compared to the same quarter last year. During the same period last year, the firm posted $1.10 earnings per share. On average, analysts forecast that Devon Energy Corporation will post 4.85 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.96 annualized dividend and a yield of 2.1%. Devon Energy’s payout ratio is currently 23.02%.

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.