Devon Energy Co. (NYSE:DVN) Stock Holdings Lessened by MONECO Advisors LLC

MONECO Advisors LLC reduced its stake in shares of Devon Energy Co. (NYSE:DVN) by 9.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,209 shares of the energy company’s stock after selling 1,534 shares during the quarter. MONECO Advisors LLC’s holdings in Devon Energy were worth $465,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DVN. Legacy Investment Solutions LLC purchased a new position in shares of Devon Energy during the 3rd quarter valued at $8,002,000. Bridgewater Associates LP purchased a new position in Devon Energy in the third quarter valued at about $9,426,000. Petrus Trust Company LTA grew its stake in Devon Energy by 394.7% in the third quarter. Petrus Trust Company LTA now owns 21,827 shares of the energy company’s stock valued at $854,000 after purchasing an additional 17,415 shares in the last quarter. CIBC Asset Management Inc increased its position in Devon Energy by 6.3% in the 3rd quarter. CIBC Asset Management Inc now owns 107,182 shares of the energy company’s stock worth $4,193,000 after purchasing an additional 6,358 shares during the last quarter. Finally, Smead Capital Management Inc. raised its stake in shares of Devon Energy by 3.5% during the 3rd quarter. Smead Capital Management Inc. now owns 5,879,516 shares of the energy company’s stock worth $230,007,000 after purchasing an additional 198,193 shares in the last quarter. 69.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on DVN shares. Benchmark restated a “buy” rating and issued a $44.00 price objective on shares of Devon Energy in a report on Thursday, February 20th. Citigroup lowered their target price on shares of Devon Energy from $55.00 to $48.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. Sanford C. Bernstein raised Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price target for the company in a research report on Wednesday, January 15th. Piper Sandler increased their price objective on Devon Energy from $54.00 to $55.00 and gave the company an “overweight” rating in a report on Monday. Finally, Truist Financial boosted their target price on Devon Energy from $42.00 to $44.00 and gave the stock a “hold” rating in a report on Thursday, February 20th. Ten research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.87.

Devon Energy Stock Down 0.6 %

Devon Energy stock opened at $37.27 on Tuesday. The firm has a market capitalization of $24.18 billion, a price-to-earnings ratio of 8.17, a PEG ratio of 1.20 and a beta of 1.98. The company’s 50 day simple moving average is $34.57 and its 200 day simple moving average is $38.26. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01. 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 announced its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.16. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The company had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.25 billion. As a group, sell-side analysts anticipate that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.58%. This is a boost from Devon Energy’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, March 14th. Devon Energy’s payout ratio is presently 21.05%.

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.