Silver Oak Securities Incorporated Decreases Stock Holdings in Devon Energy Co. (NYSE:DVN)

Silver Oak Securities Incorporated trimmed its holdings in shares of Devon Energy Co. (NYSE:DVN) by 10.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,195 shares of the energy company’s stock after selling 629 shares during the quarter. Silver Oak Securities Incorporated’s holdings in Devon Energy were worth $235,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of DVN. Pacer Advisors Inc. increased its position in Devon Energy by 1,279.7% in the fourth quarter. Pacer Advisors Inc. now owns 6,145,605 shares of the energy company’s stock worth $278,396,000 after buying an additional 5,700,167 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in Devon Energy in the third quarter worth $113,793,000. Morgan Stanley increased its position in Devon Energy by 23.6% in the third quarter. Morgan Stanley now owns 11,647,104 shares of the energy company’s stock worth $555,567,000 after buying an additional 2,220,194 shares during the last quarter. International Assets Investment Management LLC increased its position in Devon Energy by 3,885.4% in the fourth quarter. International Assets Investment Management LLC now owns 1,695,206 shares of the energy company’s stock worth $76,793,000 after buying an additional 1,652,671 shares during the last quarter. Finally, Schroder Investment Management Group increased its position in Devon Energy by 61.0% in the third quarter. Schroder Investment Management Group now owns 2,673,781 shares of the energy company’s stock worth $127,539,000 after buying an additional 1,013,353 shares during the last quarter. 69.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Scotiabank raised their price target on Devon Energy from $53.00 to $67.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. Truist Financial raised their price target on Devon Energy from $66.00 to $69.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. Piper Sandler raised their price target on Devon Energy from $59.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $55.00 price target on shares of Devon Energy in a report on Thursday, March 7th. Finally, Morgan Stanley raised their price target on Devon Energy from $49.00 to $50.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Devon Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.33.

Devon Energy Trading Down 1.5 %

Shares of DVN stock opened at $50.40 on Thursday. The company has a quick ratio of 0.99, a current ratio of 1.07 and a debt-to-equity ratio of 0.46. The business has a 50-day moving average price of $49.23 and a two-hundred day moving average price of $46.24. Devon Energy Co. has a 12-month low of $40.47 and a 12-month high of $55.09. The firm has a market cap of $32.00 billion, a P/E ratio of 8.64 and a beta of 2.19.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, February 27th. The energy company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.02. Devon Energy had a return on equity of 31.72% and a net margin of 24.56%. The firm had revenue of $4.15 billion during the quarter, compared to analyst estimates of $3.88 billion. During the same quarter in the previous year, the company posted $1.66 earnings per share. The company’s revenue was down 3.6% compared to the same quarter last year. Equities analysts anticipate that Devon Energy Co. will post 5.28 EPS for the current fiscal year.

Devon Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a $0.44 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.76 annualized dividend and a dividend yield of 3.49%. Devon Energy’s dividend payout ratio is currently 15.09%.

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.