Raymond James Financial Services Advisors Inc. Has $227.29 Million Stock Holdings in Devon Energy Co. (NYSE:DVN)

Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Devon Energy Co. (NYSE:DVN) by 3.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,529,487 shares of the energy company’s stock after purchasing an additional 156,230 shares during the quarter. Raymond James Financial Services Advisors Inc. owned approximately 0.71% of Devon Energy worth $227,290,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of DVN. Czech National Bank lifted its position in shares of Devon Energy by 47.4% in the third quarter. Czech National Bank now owns 111,982 shares of the energy company’s stock worth $5,342,000 after buying an additional 36,002 shares during the last quarter. Asset Management One Co. Ltd. boosted its position in Devon Energy by 0.6% during the third quarter. Asset Management One Co. Ltd. now owns 254,152 shares of the energy company’s stock worth $12,123,000 after purchasing an additional 1,617 shares during the period. Patriot Financial Group Insurance Agency LLC grew its holdings in Devon Energy by 105.3% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 9,518 shares of the energy company’s stock valued at $454,000 after purchasing an additional 4,882 shares during the last quarter. MCF Advisors LLC raised its position in shares of Devon Energy by 9.0% in the third quarter. MCF Advisors LLC now owns 2,681 shares of the energy company’s stock valued at $128,000 after purchasing an additional 222 shares during the period. Finally, KG&L Capital Management LLC lifted its stake in shares of Devon Energy by 4.0% in the third quarter. KG&L Capital Management LLC now owns 6,547 shares of the energy company’s stock worth $312,000 after buying an additional 250 shares during the last quarter. Institutional investors own 69.72% of the company’s stock.

Devon Energy Trading Down 3.6 %

NYSE:DVN traded down $1.90 on Tuesday, hitting $51.18. 7,266,168 shares of the stock were exchanged, compared to its average volume of 7,816,298. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.99 and a current ratio of 1.07. Devon Energy Co. has a 52 week low of $40.47 and a 52 week high of $55.09. The stock has a market capitalization of $32.50 billion, a price-to-earnings ratio of 8.78 and a beta of 2.19. The company’s 50-day moving average price is $49.07 and its 200 day moving average price is $46.22.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, February 27th. The energy company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.02. Devon Energy had a net margin of 24.56% and a return on equity of 31.72%. The business had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $3.88 billion. During the same period in the previous year, the firm posted $1.66 earnings per share. Devon Energy’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, equities research analysts forecast that Devon Energy Co. will post 5.28 earnings per share for the current year.

Devon Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend was Thursday, March 14th. Devon Energy’s payout ratio is 15.09%.

Analysts Set New Price Targets

A number of research firms recently issued reports on DVN. Scotiabank raised their target price on shares of Devon Energy from $53.00 to $67.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th. Susquehanna boosted their price objective on Devon Energy from $52.00 to $65.00 and gave the stock a “positive” rating in a research report on Monday, April 22nd. Truist Financial raised their target price on Devon Energy from $66.00 to $69.00 and gave the company a “buy” rating in a report on Monday, April 22nd. Raymond James cut their price target on Devon Energy from $53.00 to $52.00 and set an “outperform” rating for the company in a report on Wednesday, January 24th. Finally, Wells Fargo & Company upgraded shares of Devon Energy from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $46.00 to $59.00 in a research note on Monday, April 1st. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $58.33.

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.