Loomis Sayles & Co. L P Grows Stock Position in Devon Energy Co. (NYSE:DVN)

Loomis Sayles & Co. L P increased its holdings in Devon Energy Co. (NYSE:DVN) by 1,365.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 14,321 shares of the energy company’s stock after acquiring an additional 13,344 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Devon Energy were worth $560,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in DVN. Triad Wealth Partners LLC purchased a new position in shares of Devon Energy during the 2nd quarter worth $27,000. 1620 Investment Advisors Inc. purchased a new stake in shares of Devon Energy in the 2nd quarter worth $34,000. Capital Performance Advisors LLP bought a new position in Devon Energy in the 3rd quarter worth $35,000. PSI Advisors LLC lifted its position in Devon Energy by 66.7% during the second quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock valued at $36,000 after purchasing an additional 300 shares in the last quarter. Finally, LRI Investments LLC bought a new stake in Devon Energy during the first quarter valued at about $39,000. 69.72% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

DVN has been the topic of a number of analyst reports. TD Cowen lowered their price objective on Devon Energy from $54.00 to $46.00 and set a “hold” rating on the stock in a research report on Tuesday, November 5th. Mizuho lowered their price target on shares of Devon Energy from $53.00 to $51.00 and set an “outperform” rating on the stock in a report on Wednesday, October 9th. Piper Sandler increased their price objective on shares of Devon Energy from $56.00 to $57.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. Citigroup lowered their target price 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. Finally, StockNews.com lowered Devon Energy from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $51.15.

Devon Energy Stock Up 0.3 %

NYSE DVN opened at $37.84 on Friday. The stock has a 50 day moving average price of $39.80 and a 200-day moving average price of $43.69. Devon Energy Co. has a one year low of $37.28 and a one year high of $55.09. The company has a market capitalization of $24.86 billion, a P/E ratio of 7.02, a P/E/G ratio of 1.21 and a beta of 2.03. 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 released its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, beating the consensus estimate of $1.09 by $0.01. The business had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.72 billion. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. Devon Energy’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.65 earnings per share. As a group, equities analysts predict that Devon Energy Co. will post 4.79 EPS for the current fiscal year.

Devon Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.88 annualized dividend and a yield of 2.33%. Devon Energy’s payout ratio is currently 16.33%.

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.