Metis Global Partners LLC Has $1.06 Million Stock Position in Devon Energy Co. (NYSE:DVN)

Metis Global Partners LLC increased its stake in Devon Energy Co. (NYSE:DVN) by 9.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,179 shares of the energy company’s stock after purchasing an additional 2,392 shares during the quarter. Metis Global Partners LLC’s holdings in Devon Energy were worth $1,063,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Triad Wealth Partners LLC purchased a new position in shares of Devon Energy in the second quarter worth approximately $27,000. 1620 Investment Advisors Inc. acquired a new position in Devon Energy in the 2nd quarter worth approximately $34,000. Capital Performance Advisors LLP purchased a new position in Devon Energy during the 3rd quarter worth approximately $35,000. PSI Advisors LLC grew its position in Devon Energy by 66.7% during the 2nd quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock worth $36,000 after purchasing an additional 300 shares in the last quarter. Finally, LRI Investments LLC acquired a new stake in Devon Energy during the 1st quarter valued at $39,000. Institutional investors and hedge funds own 69.72% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on DVN shares. StockNews.com cut Devon Energy from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Wells Fargo & Company decreased their price objective on Devon Energy from $50.00 to $49.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. Benchmark reissued a “hold” rating on shares of Devon Energy in a research report on Tuesday, October 15th. UBS Group decreased their price target 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, Scotiabank dropped their price objective on shares of Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Devon Energy has an average rating of “Hold” and an average price target of $51.80.

Devon Energy Trading Down 2.3 %

NYSE:DVN opened at $38.47 on Friday. The company’s 50 day moving average is $40.09 and its 200-day moving average is $44.37. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61. Devon Energy Co. has a 12 month low of $37.76 and a 12 month high of $55.09. The firm has a market cap of $25.27 billion, a price-to-earnings ratio of 7.14, a P/E/G ratio of 1.22 and a beta of 2.03.

Devon Energy (NYSE:DVN) last announced its earnings results on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, topping the consensus estimate of $1.09 by $0.01. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The firm had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter last year, the firm posted $1.65 EPS. The business’s quarterly revenue was up 4.9% on a year-over-year basis. Equities analysts anticipate that Devon Energy Co. will post 4.84 EPS for the current year.

Devon Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors 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 2.29%. Devon Energy’s payout ratio is 16.33%.

Devon Energy 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.