Healthcare of Ontario Pension Plan Trust Fund Acquires Shares of 700,000 Devon Energy Co. (NYSE:DVN)

Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Devon Energy Co. (NYSE:DVN) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 700,000 shares of the energy company’s stock, valued at approximately $27,384,000. Healthcare of Ontario Pension Plan Trust Fund owned about 0.11% of Devon Energy as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Annex Advisory Services LLC lifted its holdings in Devon Energy by 0.8% during the second quarter. Annex Advisory Services LLC now owns 27,651 shares of the energy company’s stock valued at $1,311,000 after purchasing an additional 223 shares during the last quarter. Versant Capital Management Inc lifted its holdings in Devon Energy by 30.4% during the second quarter. Versant Capital Management Inc now owns 970 shares of the energy company’s stock valued at $46,000 after purchasing an additional 226 shares during the last quarter. Archer Investment Corp lifted its holdings in Devon Energy by 2.8% during the second quarter. Archer Investment Corp now owns 8,535 shares of the energy company’s stock valued at $405,000 after purchasing an additional 235 shares during the last quarter. Citizens Financial Group Inc. RI lifted its holdings in shares of Devon Energy by 2.6% in the first quarter. Citizens Financial Group Inc. RI now owns 9,480 shares of the energy company’s stock worth $476,000 after buying an additional 236 shares in the last quarter. Finally, Institute for Wealth Management LLC. lifted its holdings in shares of Devon Energy by 4.0% in the second quarter. Institute for Wealth Management LLC. now owns 6,234 shares of the energy company’s stock worth $296,000 after buying an additional 237 shares in the last quarter. 69.72% of the stock is owned by hedge funds and other institutional investors.

Devon Energy Stock Up 0.3 %

Shares of NYSE DVN opened at $37.83 on Thursday. Devon Energy Co. has a one year low of $37.28 and a one year high of $55.09. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01. The firm’s 50 day simple moving average is $39.85 and its two-hundred day simple moving average is $43.73. The stock has a market capitalization of $24.85 billion, a P/E ratio of 7.02, a PEG ratio of 1.21 and a beta of 2.03.

Devon Energy (NYSE:DVN) last issued its earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share (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 analysts’ expectations of $3.72 billion. During the same quarter last year, the business earned $1.65 earnings per share. The business’s revenue was up 4.9% on a year-over-year basis. As a group, analysts expect that Devon Energy Co. will post 4.79 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.33%. The ex-dividend date is Friday, December 13th. Devon Energy’s dividend payout ratio is 16.33%.

Analyst Upgrades and Downgrades

DVN has been the topic of a number of recent analyst reports. Susquehanna lowered their price target on shares of Devon Energy from $63.00 to $62.00 and set a “positive” rating on the stock in a report on Friday, October 18th. Morgan Stanley lowered their price target on shares of Devon Energy from $55.00 to $51.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Mizuho lowered their price target on shares of Devon Energy from $53.00 to $51.00 and set an “outperform” rating on the stock in a report on Wednesday, October 9th. UBS Group lowered their price target on shares of Devon Energy from $53.00 to $47.00 and set a “neutral” rating on the stock in a report on Wednesday, September 18th. Finally, Piper Sandler increased their price target on shares of Devon Energy from $56.00 to $57.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Devon Energy presently has a consensus rating of “Hold” and an average target price of $51.15.

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.