Mutual Advisors LLC lessened its holdings in shares of Devon Energy Co. (NYSE:DVN – Free Report) by 17.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,748 shares of the energy company’s stock after selling 1,816 shares during the quarter. Mutual Advisors LLC’s holdings in Devon Energy were worth $286,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the stock. EnCap Energy Capital Fund XI L.P. bought a new position in shares of Devon Energy during the third quarter valued at about $461,857,000. EnCap Partners GP LLC purchased a new stake in Devon Energy in the third quarter worth $408,653,000. EnCap Energy Capital Fund X L.P. bought a new position in Devon Energy in the 3rd quarter worth $230,928,000. International Assets Investment Management LLC lifted its holdings in Devon Energy by 4,125.7% in the third quarter. International Assets Investment Management LLC now owns 2,280,961 shares of the energy company’s stock worth $89,231,000 after buying an additional 2,226,983 shares during the period. Finally, Pacer Advisors Inc. boosted its position in shares of Devon Energy by 16.9% during the third quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company’s stock valued at $453,446,000 after purchasing an additional 1,677,652 shares in the last quarter. 69.72% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of equities research analysts have recently commented on DVN shares. Scotiabank cut their target price on Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Sanford C. Bernstein upgraded Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price target for the company in a research note on Wednesday, January 15th. Piper Sandler lowered their price target on Devon Energy from $57.00 to $53.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $50.00 price objective on shares of Devon Energy in a report on Friday, January 10th. Finally, Wells Fargo & Company lowered their target price on shares of Devon Energy from $49.00 to $43.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Devon Energy has an average rating of “Moderate Buy” and an average price target of $49.41.
Devon Energy Trading Down 1.3 %
Shares of DVN stock opened at $34.88 on Wednesday. Devon Energy Co. has a 1-year low of $30.39 and a 1-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 business’s fifty day moving average price is $35.14 and its 200 day moving average price is $39.70. The firm has a market capitalization of $22.91 billion, a PE ratio of 6.47, a P/E/G ratio of 1.21 and a beta of 2.00.
Devon Energy (NYSE:DVN – Get Free Report) last posted its earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.01. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The company had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same quarter in the prior year, the company earned $1.65 earnings per share. Devon Energy’s revenue was up 4.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Devon Energy Co. will post 4.7 EPS for the current fiscal year.
Devon Energy Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were given a dividend of $0.22 per share. The ex-dividend date was Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.52%. Devon Energy’s dividend payout ratio (DPR) is currently 16.33%.
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.
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