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

Nepsis Inc. lifted its holdings in shares of Devon Energy Co. (NYSE:DVN) by 10.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 486,781 shares of the energy company’s stock after purchasing an additional 46,216 shares during the period. Devon Energy accounts for about 4.5% of Nepsis Inc.’s portfolio, making the stock its 8th biggest position. Nepsis Inc.’s holdings in Devon Energy were worth $19,043,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP grew its position in shares of Devon Energy by 9.8% during the 4th quarter. Wellington Management Group LLP now owns 173,024 shares of the energy company’s stock worth $7,838,000 after buying an additional 15,384 shares during the period. Los Angeles Capital Management LLC acquired a new stake in Devon Energy in the first quarter worth $951,000. Mather Group LLC. bought a new stake in Devon Energy in the first quarter valued at $121,000. Gulf International Bank UK Ltd raised its holdings in shares of Devon Energy by 17.4% during the first quarter. Gulf International Bank UK Ltd now owns 60,704 shares of the energy company’s stock valued at $3,046,000 after purchasing an additional 9,000 shares during the period. Finally, Rockland Trust Co. bought a new position in shares of Devon Energy during the 1st quarter worth about $215,000. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Stock Performance

Shares of DVN stock traded up $0.08 during trading hours on Friday, hitting $40.66. 6,942,909 shares of the company were exchanged, compared to its average volume of 7,354,939. Devon Energy Co. has a 52-week low of $37.76 and a 52-week high of $55.09. 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 firm has a fifty day simple moving average of $42.15 and a 200 day simple moving average of $46.28. The stock has a market capitalization of $25.70 billion, a price-to-earnings ratio of 7.76, a P/E/G ratio of 1.27 and a beta of 2.02.

Devon Energy (NYSE:DVN) last issued its earnings results 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. The firm had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.90 billion. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. The business’s revenue was up 13.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.18 earnings per share. Research analysts predict that Devon Energy Co. will post 5.01 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were given a dividend of $0.22 per share. 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 dividend payout ratio is presently 16.79%.

Analyst Ratings Changes

A number of research analysts recently weighed in on DVN shares. StockNews.com downgraded Devon Energy from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Sanford C. Bernstein decreased their price objective on Devon Energy from $48.00 to $43.00 and set a “market perform” rating for the company in a report on Wednesday, July 17th. UBS Group cut their target price on Devon Energy from $53.00 to $47.00 and set a “neutral” rating on the stock in a report on Wednesday, September 18th. Scotiabank decreased their price target on shares of Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Finally, Royal Bank of Canada reaffirmed 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 investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.53.

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.