Devon Energy Co. (NYSE:DVN) Shares Purchased by Nordea Investment Management AB

Nordea Investment Management AB raised its position in shares of Devon Energy Co. (NYSE:DVN) by 70.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 65,861 shares of the energy company’s stock after buying an additional 27,114 shares during the quarter. Nordea Investment Management AB’s holdings in Devon Energy were worth $2,145,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new stake in Devon Energy during the third quarter valued at approximately $35,000. Future Financial Wealth Managment LLC acquired a new stake in Devon Energy during the third quarter valued at approximately $39,000. True Wealth Design LLC raised its stake in Devon Energy by 3,889.3% during the third quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock valued at $44,000 after buying an additional 1,089 shares in the last quarter. Hazlett Burt & Watson Inc. raised its stake in Devon Energy by 29.8% during the third quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock valued at $49,000 after buying an additional 290 shares in the last quarter. Finally, Activest Wealth Management raised its position in shares of Devon Energy by 60.4% during the 3rd quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock worth $50,000 after purchasing an additional 480 shares during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.

Analyst Upgrades and Downgrades

DVN has been the topic of a number of research reports. Citigroup dropped their price target on Devon Energy from $55.00 to $48.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. Morgan Stanley dropped their price target on Devon Energy from $55.00 to $51.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Raymond James lowered their target price on Devon Energy from $58.00 to $51.00 in a research report on Tuesday, November 5th. Royal Bank of Canada restated a “sector perform” rating and issued a $50.00 target price on shares of Devon Energy in a research report on Friday. Finally, TD Cowen lowered their target price on Devon Energy from $54.00 to $46.00 and set a “hold” rating on the stock in a research report on Tuesday, November 5th. Eleven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $49.48.

Devon Energy Stock Performance

DVN opened at $36.10 on Friday. The firm has a market cap of $23.71 billion, a PE ratio of 6.70, a P/E/G ratio of 1.07 and a beta of 1.99. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61. The business has a fifty day simple moving average of $35.62 and a 200-day simple moving average of $40.60. Devon Energy Co. has a fifty-two week low of $30.39 and a fifty-two week high of $55.09.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.01. The business 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 was up 4.9% compared to the same quarter last year. During the same period last year, the company posted $1.65 EPS. As a group, equities analysts predict that Devon Energy Co. will post 4.79 EPS for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were given a $0.22 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.88 annualized dividend and a dividend yield of 2.44%. Devon Energy’s dividend payout ratio (DPR) is presently 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.