B. Riley Wealth Advisors Inc. Buys 31,668 Shares of Devon Energy Co. (NYSE:DVN)

B. Riley Wealth Advisors Inc. increased its position in Devon Energy Co. (NYSE:DVN) by 41.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 107,883 shares of the energy company’s stock after purchasing an additional 31,668 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Devon Energy were worth $5,114,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Devon Energy by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 76,457,056 shares of the energy company’s stock worth $3,836,615,000 after buying an additional 2,559,039 shares in the last quarter. Pacer Advisors Inc. grew its holdings in Devon Energy by 16.8% during the 2nd quarter. Pacer Advisors Inc. now owns 9,913,516 shares of the energy company’s stock worth $469,901,000 after acquiring an additional 1,428,776 shares in the last quarter. Los Angeles Capital Management LLC increased its position in Devon Energy by 7,165.6% during the 2nd quarter. Los Angeles Capital Management LLC now owns 1,376,253 shares of the energy company’s stock valued at $65,234,000 after purchasing an additional 1,357,311 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Devon Energy by 16.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,793,217 shares of the energy company’s stock valued at $416,779,000 after purchasing an additional 1,255,543 shares in the last quarter. Finally, National Bank of Canada FI lifted its position in shares of Devon Energy by 447.6% in the 2nd quarter. National Bank of Canada FI now owns 1,179,538 shares of the energy company’s stock worth $56,299,000 after purchasing an additional 964,147 shares during the period. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Devon Energy Stock Up 0.4 %

NYSE:DVN opened at $39.12 on Tuesday. The firm has a market capitalization of $24.72 billion, a P/E ratio of 7.47, a PEG ratio of 1.22 and a beta of 2.03. The company’s fifty day moving average price is $43.06 and its 200-day moving average price is $47.00. Devon Energy Co. has a 1-year low of $37.76 and a 1-year high of $55.09. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.11 and a quick ratio of 1.03.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, August 6th. The energy company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.15. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. The business had revenue of $3.92 billion during the quarter, compared to analyst estimates of $3.90 billion. During the same quarter last year, the business posted $1.18 EPS. The company’s revenue was up 13.4% on a year-over-year basis. As a group, equities research analysts anticipate that Devon Energy Co. will post 5.11 EPS for the current year.

Devon Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were given a $0.22 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.88 annualized dividend and a yield of 2.25%. Devon Energy’s dividend payout ratio is presently 16.79%.

Analyst Ratings Changes

A number of equities analysts recently commented on DVN shares. Morgan Stanley reduced their price objective on shares of Devon Energy from $55.00 to $51.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Truist Financial reduced their price target on Devon Energy from $60.00 to $49.00 and set a “buy” rating for the company in a research report on Monday. JPMorgan Chase & Co. dropped their price objective on Devon Energy from $64.00 to $51.00 and set an “overweight” rating on the stock in a research report on Thursday, September 12th. UBS Group reduced their target price on shares of Devon Energy from $53.00 to $47.00 and set a “neutral” rating for the company in a report on Wednesday, September 18th. Finally, Sanford C. Bernstein lowered their price target on shares of Devon Energy from $48.00 to $43.00 and set a “market perform” rating on the stock in a report on Wednesday, July 17th. Seven investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Devon Energy currently has an average rating of “Moderate Buy” and an average target price of $55.71.

Devon Energy Company Profile

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.