Metis Global Partners LLC Acquires 1,790 Shares of Devon Energy Co. (NYSE:DVN)

Metis Global Partners LLC lifted its holdings in shares of Devon Energy Co. (NYSE:DVN) by 6.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,969 shares of the energy company’s stock after acquiring an additional 1,790 shares during the period. Metis Global Partners LLC’s holdings in Devon Energy were worth $948,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in DVN. Capital Performance Advisors LLP acquired a new position in Devon Energy during the 3rd quarter valued at about $35,000. Cromwell Holdings LLC boosted its position in shares of Devon Energy by 98.0% during the fourth quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company’s stock valued at $40,000 after buying an additional 598 shares during the last quarter. Sierra Ocean LLC bought a new stake in Devon Energy during the fourth quarter worth $43,000. True Wealth Design LLC raised its position in Devon Energy by 3,889.3% in the 3rd 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 during the last quarter. Finally, Hazlett Burt & Watson Inc. lifted its stake in Devon Energy by 29.8% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock valued at $49,000 after acquiring an additional 290 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Trading Down 0.5 %

NYSE:DVN opened at $34.23 on Wednesday. Devon Energy Co. has a 1 year low of $30.39 and a 1 year high of $55.09. The stock’s fifty day moving average price is $35.07 and its two-hundred day moving average price is $37.85. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01. The company has a market cap of $22.21 billion, a P/E ratio of 7.51, a P/E/G ratio of 1.20 and a beta of 1.98.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.16. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. The business had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.25 billion. As a group, analysts expect that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a $0.24 dividend. This is a positive change from Devon Energy’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date is Friday, March 14th. Devon Energy’s dividend payout ratio (DPR) is 21.05%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on DVN. Wolfe Research upgraded shares of Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 target price for the company in a report on Friday, January 3rd. Wells Fargo & Company dropped 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. StockNews.com raised Devon Energy from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Raymond James lifted their price target on Devon Energy from $53.00 to $54.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Finally, Piper Sandler upped their price objective on Devon Energy from $54.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, February 24th. Ten equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $48.87.

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.