Tokio Marine Asset Management Co. Ltd. Has $845,000 Stock Position in Devon Energy Co. (NYSE:DVN)

Tokio Marine Asset Management Co. Ltd. lifted its position in shares of Devon Energy Co. (NYSE:DVN) by 7.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,609 shares of the energy company’s stock after purchasing an additional 1,469 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Devon Energy were worth $845,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Triad Wealth Partners LLC bought a new position in Devon Energy during the second quarter worth about $27,000. 1620 Investment Advisors Inc. bought a new position in shares of Devon Energy during the 2nd quarter worth approximately $34,000. Capital Performance Advisors LLP acquired a new stake in Devon Energy in the 3rd quarter valued at $35,000. PSI Advisors LLC grew its position in Devon Energy by 66.7% in the second quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock valued at $36,000 after acquiring an additional 300 shares during the period. Finally, LRI Investments LLC acquired a new position in Devon Energy during the first quarter worth $39,000. 69.72% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on DVN shares. TD Cowen reduced their target price on shares of Devon Energy from $54.00 to $46.00 and set a “hold” rating on the stock in a research note on Tuesday, November 5th. Raymond James reduced their price target on shares of Devon Energy from $58.00 to $51.00 in a research report on Tuesday, November 5th. Benchmark reaffirmed a “hold” rating on shares of Devon Energy in a research note on Tuesday, October 15th. Evercore ISI cut their target price on shares of Devon Energy from $55.00 to $50.00 and set an “in-line” rating for the company in a research note on Monday, September 30th. Finally, Truist Financial cut Devon Energy from a “buy” rating to a “hold” rating and dropped their price target for the company from $49.00 to $43.00 in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $51.80.

Devon Energy Stock Down 2.3 %

Shares of Devon Energy stock opened at $38.46 on Friday. The business has a fifty day simple moving average of $40.09 and a 200 day simple moving average of $44.41. The stock has a market cap of $25.26 billion, a PE ratio of 7.14, a price-to-earnings-growth ratio of 1.22 and a beta of 2.03. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61. Devon Energy Co. has a 12 month low of $37.76 and a 12 month high of $55.09.

Devon Energy (NYSE:DVN) last posted 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. The company had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.72 billion. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.65 EPS. Research analysts predict that Devon Energy Co. will post 4.84 EPS for the current year.

Devon Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.29%. The ex-dividend date is Friday, December 13th. Devon Energy’s payout ratio is presently 16.33%.

Devon Energy 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.