Devon Energy Co. (NYSE:DVN) Shares Bought by Citizens National Bank Trust Department

Citizens National Bank Trust Department raised its holdings in Devon Energy Co. (NYSE:DVN) by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 26,999 shares of the energy company’s stock after purchasing an additional 510 shares during the quarter. Citizens National Bank Trust Department’s holdings in Devon Energy were worth $884,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Hussman Strategic Advisors Inc. acquired a new position in Devon Energy in the fourth quarter valued at $687,000. Ieq Capital LLC increased its stake in shares of Devon Energy by 88.4% during the fourth quarter. Ieq Capital LLC now owns 82,659 shares of the energy company’s stock worth $2,705,000 after acquiring an additional 38,790 shares during the period. Callahan Advisors LLC acquired a new position in shares of Devon Energy during the fourth quarter worth about $207,000. Mraz Amerine & Associates Inc. increased its stake in shares of Devon Energy by 20.0% during the fourth quarter. Mraz Amerine & Associates Inc. now owns 37,195 shares of the energy company’s stock worth $1,217,000 after acquiring an additional 6,206 shares during the period. Finally, Venturi Wealth Management LLC increased its stake in shares of Devon Energy by 34.8% during the fourth quarter. Venturi Wealth Management LLC now owns 4,198 shares of the energy company’s stock worth $137,000 after acquiring an additional 1,084 shares during the period. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Devon Energy Stock Performance

Shares of DVN opened at $37.58 on Thursday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11. The company has a market capitalization of $24.69 billion, a price-to-earnings ratio of 6.97, a PEG ratio of 1.08 and a beta of 1.98. The company’s 50 day simple moving average is $34.31 and its 200 day simple moving average is $38.40. Devon Energy Co. has a 1 year low of $30.39 and a 1 year high of $55.09.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.16. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The business had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.25 billion. On average, sell-side analysts predict that Devon Energy Co. will post 4.68 EPS for the current year.

Devon Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $0.24 per share. This is a positive change from Devon Energy’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.96 annualized dividend and a yield of 2.55%. Devon Energy’s dividend payout ratio is 16.33%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on DVN shares. Mizuho dropped their price target on shares of Devon Energy from $51.00 to $47.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. JPMorgan Chase & Co. lowered shares of Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 price target on the stock. in a research note on Thursday, December 5th. Citigroup dropped their price target on shares of Devon Energy from $55.00 to $48.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. Sanford C. Bernstein upgraded shares of Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 target price on the stock in a research report on Wednesday, January 15th. 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 report on Tuesday, December 17th. Ten investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $49.26.

Devon Energy Company 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.