Westerkirk Capital Inc. Takes Position in Devon Energy Corporation $DVN

by · The Cerbat Gem

Westerkirk Capital Inc. purchased a new position in Devon Energy Corporation (NYSE:DVN – Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 40,800 shares of the energy company’s stock, valued at approximately $1,298,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Banque Cantonale Vaudoise bought a new position in Devon Energy during the first quarter worth about $26,000. Opal Wealth Advisors LLC acquired a new stake in shares of Devon Energy in the 2nd quarter valued at approximately $25,000. Trust Co. of Vermont boosted its stake in Devon Energy by 241.3% during the 2nd quarter. Trust Co. of Vermont now owns 942 shares of the energy company’s stock worth $30,000 after acquiring an additional 666 shares during the last quarter. SouthState Corp grew its holdings in Devon Energy by 350.5% during the first quarter. SouthState Corp now owns 991 shares of the energy company’s stock valued at $37,000 after purchasing an additional 771 shares during the period. Finally, Stone House Investment Management LLC acquired a new position in Devon Energy during the first quarter valued at approximately $39,000. Institutional investors own 69.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on DVN shares. Piper Sandler reduced their price target on shares of Devon Energy from $57.00 to $55.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 18th. Morgan Stanley reduced their target price on Devon Energy from $49.00 to $47.00 and set an “overweight” rating on the stock in a report on Tuesday, October 14th. Roth Capital began coverage on Devon Energy in a research note on Monday, October 13th. They issued a “buy” rating and a $42.00 target price for the company. Barclays dropped their price target on Devon Energy from $42.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 7th. Finally, Royal Bank Of Canada set a $42.00 price objective on Devon Energy and gave the company a “sector perform” rating in a report on Friday, October 10th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.89.

Get Our Latest Report on DVN

Devon Energy Stock Down 1.6%

DVN stock opened at $37.27 on Wednesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.96 and a quick ratio of 0.87. The stock has a market capitalization of $23.38 billion, a P/E ratio of 8.77, a P/E/G ratio of 2.92 and a beta of 0.62. The business has a 50-day moving average of $34.28 and a 200-day moving average of $33.74. Devon Energy Corporation has a fifty-two week low of $25.89 and a fifty-two week high of $38.88.

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

Devon Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be given a $0.24 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $0.96 dividend on an annualized basis and a yield of 2.6%. Devon Energy’s dividend payout ratio (DPR) is 22.59%.

Devon Energy Profile

(Free Report)

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.

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