Nepsis Inc. Has $19.04 Million Stake in Devon Energy Co. (NYSE:DVN)

Nepsis Inc. raised its holdings in Devon Energy Co. (NYSE:DVN) by 10.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 486,781 shares of the energy company’s stock after buying an additional 46,216 shares during the period. Devon Energy comprises approximately 4.5% of Nepsis Inc.’s investment portfolio, making the stock its 8th biggest holding. Nepsis Inc. owned approximately 0.08% of Devon Energy worth $19,043,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. William B. Walkup & Associates Inc. bought a new stake in Devon Energy in the 2nd quarter valued at $1,026,000. Tradewinds Capital Management LLC bought a new position in shares of Devon Energy in the first quarter valued at about $30,000. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Devon Energy during the 2nd quarter worth about $711,000. MCF Advisors LLC boosted its holdings in shares of Devon Energy by 5.6% during the 1st quarter. MCF Advisors LLC now owns 4,023 shares of the energy company’s stock worth $202,000 after buying an additional 215 shares during the period. Finally, Mather Group LLC. acquired a new position in Devon Energy in the 1st quarter valued at about $121,000. 69.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DVN has been the subject of a number of research analyst reports. Wells Fargo & Company restated a “sector outperform” rating on shares of Devon Energy in a report on Friday. Piper Sandler decreased their price objective on Devon Energy from $57.00 to $56.00 and set an “overweight” rating on the stock in a report on Tuesday, October 15th. Scotiabank dropped their target price on Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Sanford C. Bernstein decreased their price target on shares of Devon Energy from $48.00 to $43.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 17th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $57.00 price objective on shares of Devon Energy in a research note on Tuesday, September 3rd. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $52.53.

Devon Energy Price Performance

Devon Energy stock traded up $0.08 during mid-day trading on Friday, reaching $40.66. The company had a trading volume of 6,942,909 shares, compared to its average volume of 7,354,939. The company has a current ratio of 1.11, a quick ratio of 1.03 and a debt-to-equity ratio of 0.45. The company has a market cap of $25.70 billion, a P/E ratio of 7.76, a P/E/G ratio of 1.27 and a beta of 2.02. Devon Energy Co. has a fifty-two week low of $37.76 and a fifty-two week high of $55.09. The business has a fifty day simple moving average of $42.15 and a 200 day simple moving average of $46.28.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, August 6th. The energy company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.15. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. The company had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $3.90 billion. During the same quarter in the prior year, the firm posted $1.18 earnings per share. The firm’s revenue was up 13.4% compared to the same quarter last year. On average, equities research analysts predict that Devon Energy Co. will post 5.01 earnings per share for the current year.

Devon Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a $0.22 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.16%. Devon Energy’s payout ratio is 16.79%.

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.