Ensign Peak Advisors Inc Has $14.81 Million Stock Holdings in Devon Energy Co. (NYSE:DVN)

Ensign Peak Advisors Inc increased its holdings in Devon Energy Co. (NYSE:DVNGet Rating) by 66.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 336,103 shares of the energy company’s stock after purchasing an additional 133,897 shares during the period. Ensign Peak Advisors Inc’s holdings in Devon Energy were worth $14,806,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of DVN. Triton Wealth Management PLLC grew its position in Devon Energy by 1.4% in the fourth quarter. Triton Wealth Management PLLC now owns 15,094 shares of the energy company’s stock valued at $783,000 after purchasing an additional 212 shares in the last quarter. Center for Financial Planning Inc. grew its position in Devon Energy by 4.0% in the fourth quarter. Center for Financial Planning Inc. now owns 5,560 shares of the energy company’s stock valued at $245,000 after purchasing an additional 214 shares in the last quarter. Dumont & Blake Investment Advisors LLC grew its position in Devon Energy by 0.9% in the fourth quarter. Dumont & Blake Investment Advisors LLC now owns 27,540 shares of the energy company’s stock valued at $1,213,000 after purchasing an additional 240 shares in the last quarter. Greenleaf Trust grew its position in Devon Energy by 1.1% in the third quarter. Greenleaf Trust now owns 22,654 shares of the energy company’s stock valued at $804,000 after purchasing an additional 248 shares in the last quarter. Finally, Heartland Bank & Trust Co grew its position in Devon Energy by 1.6% in the fourth quarter. Heartland Bank & Trust Co now owns 17,015 shares of the energy company’s stock valued at $750,000 after purchasing an additional 270 shares in the last quarter. 87.01% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts recently weighed in on the stock. Piper Sandler raised their target price on shares of Devon Energy to $89.00 and gave the company a “na” rating in a research report on Wednesday. Credit Suisse Group raised their target price on shares of Devon Energy from $58.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, February 16th. Royal Bank of Canada raised their target price on shares of Devon Energy from $54.00 to $62.00 in a research report on Thursday, February 17th. Morgan Stanley lifted their price objective on shares of Devon Energy from $54.00 to $68.00 and gave the company an “equal weight” rating in a research report on Friday, April 22nd. Finally, Mizuho lifted their price objective on shares of Devon Energy from $61.00 to $89.00 and gave the company a “buy” rating in a research report on Thursday, March 31st. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Devon Energy has an average rating of “Buy” and an average target price of $68.33.

Shares of DVN stock opened at $69.92 on Friday. The company has a market capitalization of $46.15 billion, a price-to-earnings ratio of 13.12 and a beta of 2.61. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.32 and a current ratio of 1.32. The company has a 50-day simple moving average of $62.05 and a 200 day simple moving average of $52.95. Devon Energy Co. has a 52 week low of $24.05 and a 52 week high of $73.18.

Devon Energy (NYSE:DVNGet Rating) last announced its earnings results on Monday, May 2nd. The energy company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.74 by $0.14. The business had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $4.02 billion. Devon Energy had a net margin of 25.69% and a return on equity of 36.57%. During the same quarter in the previous year, the firm posted $0.45 EPS. Sell-side analysts forecast that Devon Energy Co. will post 8.46 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Monday, June 13th will be paid a $1.27 dividend. This is a boost from Devon Energy’s previous quarterly dividend of $1.00. The ex-dividend date is Friday, June 10th. This represents a $5.08 annualized dividend and a yield of 7.27%. Devon Energy’s payout ratio is 75.05%.

Devon Energy declared that its Board of Directors has approved a stock repurchase plan on Monday, May 2nd that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the energy company to purchase up to 4.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

In other Devon Energy news, EVP Dennis C. Cameron sold 4,143 shares of Devon Energy stock in a transaction dated Monday, April 4th. The shares were sold at an average price of $61.45, for a total value of $254,587.35. Following the completion of the sale, the executive vice president now owns 284,806 shares in the company, valued at approximately $17,501,328.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Jeremy D. Humphers sold 19,000 shares of Devon Energy stock in a transaction dated Friday, March 4th. The stock was sold at an average price of $59.42, for a total transaction of $1,128,980.00. The disclosure for this sale can be found here. Insiders sold a total of 192,880 shares of company stock valued at $11,779,273 in the last quarter. Corporate insiders own 0.59% of the company’s stock.

About Devon Energy (Get Rating)

Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates approximately 5,134 gross wells. Devon Energy Corporation was incorporated in 1971 and is headquartered in Oklahoma City, Oklahoma.

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Institutional Ownership by Quarter for Devon Energy (NYSE:DVN)

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