Comprehensive Financial Consultants Institutional Inc. Purchases 3,859 Shares of Devon Energy Co. (NYSE:DVN)

Comprehensive Financial Consultants Institutional Inc. raised its position in Devon Energy Co. (NYSE:DVN) by 5.2% in the 3rd quarter, Holdings Channel reports. The firm owned 78,682 shares of the energy company’s stock after buying an additional 3,859 shares during the period. Devon Energy accounts for approximately 1.1% of Comprehensive Financial Consultants Institutional Inc.’s investment portfolio, making the stock its 29th biggest holding. Comprehensive Financial Consultants Institutional Inc.’s holdings in Devon Energy were worth $3,078,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Summit Global Investments increased its position in shares of Devon Energy by 63.7% during the third quarter. Summit Global Investments now owns 124,499 shares of the energy company’s stock worth $4,870,000 after acquiring an additional 48,431 shares in the last quarter. Lewis Asset Management LLC increased its position in shares of Devon Energy by 66.6% during the third quarter. Lewis Asset Management LLC now owns 13,327 shares of the energy company’s stock worth $521,000 after acquiring an additional 5,330 shares in the last quarter. JB Capital LLC increased its position in shares of Devon Energy by 5.1% during the third quarter. JB Capital LLC now owns 65,715 shares of the energy company’s stock worth $2,571,000 after acquiring an additional 3,209 shares in the last quarter. Olympiad Research LP increased its position in shares of Devon Energy by 80.0% during the third quarter. Olympiad Research LP now owns 20,215 shares of the energy company’s stock worth $791,000 after acquiring an additional 8,983 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Devon Energy by 1.0% during the third quarter. Principal Financial Group Inc. now owns 731,978 shares of the energy company’s stock worth $28,635,000 after acquiring an additional 7,487 shares in the last quarter. Institutional investors own 69.72% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on DVN. Mizuho lowered their price objective on shares of Devon Energy from $53.00 to $51.00 and set an “outperform” rating for the company in a research report on Wednesday, October 9th. Evercore ISI lowered their price objective on shares of Devon Energy from $55.00 to $50.00 and set an “in-line” rating for the company in a research report on Monday, September 30th. TD Cowen lowered their price objective on shares of Devon Energy from $54.00 to $46.00 and set a “hold” rating for the company in a research report on Tuesday. Piper Sandler decreased their target price on shares of Devon Energy from $57.00 to $56.00 and set an “overweight” rating for the company in a research report on Tuesday, October 15th. Finally, Sanford C. Bernstein decreased their target price on shares of Devon Energy from $48.00 to $43.00 and set a “market perform” rating for the company in a research report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $51.80.

Devon Energy Stock Performance

Shares of DVN opened at $38.89 on Friday. The firm has a 50-day moving average of $40.60 and a 200-day moving average of $44.99. Devon Energy Co. has a one year low of $37.76 and a one year high of $55.09. The company has a market cap of $24.35 billion, a PE ratio of 7.06, a price-to-earnings-growth ratio of 1.20 and a beta of 2.03. 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 announced its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.01. Devon Energy had a net margin of 22.60% and a return on equity of 29.14%. The company had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter last year, the firm posted $1.65 EPS. The company’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, equities analysts forecast that Devon Energy Co. will post 4.93 earnings per share for the current year.

Devon Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend is Friday, December 13th. Devon Energy’s payout ratio is 15.97%.

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.