Credit Suisse AG Buys 27,944 Shares of Devon Energy Co. (NYSE:DVN)

by · The Cerbat Gem

Credit Suisse AG lifted its position in Devon Energy Co. (NYSE:DVN – Free Report) by 4.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 698,073 shares of the energy company’s stock after buying an additional 27,944 shares during the period. Credit Suisse AG owned approximately 0.11% of Devon Energy worth $33,745,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of DVN. Wahed Invest LLC grew its stake in Devon Energy by 2.1% during the 1st quarter. Wahed Invest LLC now owns 7,933 shares of the energy company’s stock worth $469,000 after buying an additional 161 shares during the last quarter. MCF Advisors LLC increased its position in shares of Devon Energy by 8.5% in the 2nd quarter. MCF Advisors LLC now owns 2,459 shares of the energy company’s stock valued at $119,000 after acquiring an additional 192 shares during the period. Duncker Streett & Co. Inc. raised its stake in Devon Energy by 13.2% in the 2nd quarter. Duncker Streett & Co. Inc. now owns 1,715 shares of the energy company’s stock worth $83,000 after acquiring an additional 200 shares during the last quarter. Janiczek Wealth Management LLC lifted its position in Devon Energy by 6.0% during the 2nd quarter. Janiczek Wealth Management LLC now owns 3,543 shares of the energy company’s stock worth $171,000 after acquiring an additional 202 shares during the period. Finally, Diligent Investors LLC increased its holdings in shares of Devon Energy by 4.6% in the second quarter. Diligent Investors LLC now owns 4,639 shares of the energy company’s stock valued at $224,000 after purchasing an additional 202 shares during the period. 68.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Pickering Energy Partners upgraded shares of Devon Energy from a “neutral” rating to an “outperform” rating in a report on Thursday, November 9th. Sanford C. Bernstein lowered shares of Devon Energy from an “outperform” rating to a “market perform” rating and set a $48.00 price target on the stock. in a report on Tuesday, October 17th. Wells Fargo & Company dropped their target price on Devon Energy from $50.00 to $48.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 22nd. Citigroup decreased their price target on Devon Energy from $57.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday, September 20th. Finally, Bank of America raised their price objective on shares of Devon Energy from $54.00 to $58.00 in a research note on Wednesday, September 27th. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Devon Energy presently has an average rating of “Moderate Buy” and an average price target of $57.82.

View Our Latest Stock Report on Devon Energy

Devon Energy Trading Up 0.4 %

DVN stock opened at $45.17 on Friday. Devon Energy Co. has a 12-month low of $42.59 and a 12-month high of $70.42. The business’s 50-day moving average is $46.33 and its 200 day moving average is $48.62. The company has a current ratio of 0.96, a quick ratio of 0.89 and a debt-to-equity ratio of 0.48. The stock has a market cap of $28.94 billion, a price-to-earnings ratio of 7.72, a PEG ratio of 0.15 and a beta of 2.21.

Devon Energy (NYSE:DVN – Get Free Report) last issued its quarterly earnings results on Tuesday, November 7th. The energy company reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.56 by $0.09. Devon Energy had a return on equity of 33.97% and a net margin of 24.63%. The firm had revenue of $3.84 billion for the quarter, compared to analyst estimates of $4.03 billion. On average, sell-side analysts anticipate that Devon Energy Co. will post 5.88 EPS for the current fiscal year.

Devon Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 6.82%. The ex-dividend date of this dividend is Thursday, December 14th. This is a boost from Devon Energy’s previous quarterly dividend of $0.49. Devon Energy’s payout ratio is 13.68%.

Devon Energy Profile

(Free Report)

Devon Energy Corporation, an independent energy company, explores for, develops, and produces oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Anadarko, Williston, Eagle Ford, and Powder River Basin. The company was incorporated in 1971 and is headquartered in Oklahoma City, Oklahoma.

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