Devon Energy Co. (NYSE:DVN) Shares Sold by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC lessened its position in shares of Devon Energy Co. (NYSE:DVN) by 41.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 725,353 shares of the energy company’s stock after selling 515,711 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.11% of Devon Energy worth $23,741,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in DVN. Sfmg LLC raised its position in Devon Energy by 0.5% during the third quarter. Sfmg LLC now owns 64,871 shares of the energy company’s stock worth $2,538,000 after acquiring an additional 294 shares during the last quarter. Redwood Wealth Management Group LLC raised its position in shares of Devon Energy by 3.9% during the 4th quarter. Redwood Wealth Management Group LLC now owns 8,141 shares of the energy company’s stock worth $266,000 after purchasing an additional 309 shares during the last quarter. Cornerstone Wealth Management LLC lifted its stake in Devon Energy by 1.6% in the 4th quarter. Cornerstone Wealth Management LLC now owns 21,242 shares of the energy company’s stock valued at $695,000 after buying an additional 326 shares in the last quarter. Annex Advisory Services LLC grew its holdings in Devon Energy by 1.2% during the 4th quarter. Annex Advisory Services LLC now owns 27,021 shares of the energy company’s stock valued at $884,000 after buying an additional 327 shares during the last quarter. Finally, Fiduciary Trust Co increased its position in Devon Energy by 3.1% during the third quarter. Fiduciary Trust Co now owns 11,074 shares of the energy company’s stock worth $433,000 after buying an additional 329 shares in the last quarter. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DVN has been the topic of several recent research reports. Truist Financial upped their price objective on Devon Energy from $42.00 to $44.00 and gave the company a “hold” rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. decreased their price target on shares of Devon Energy from $48.00 to $42.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. Susquehanna boosted their price objective on shares of Devon Energy from $50.00 to $52.00 and gave the company a “positive” rating in a research report on Thursday, February 20th. Benchmark reissued a “buy” rating and set a $44.00 price objective on shares of Devon Energy in a research note on Thursday, February 20th. Finally, Raymond James lowered their target price on shares of Devon Energy from $54.00 to $46.00 and set an “outperform” rating for the company in a research note on Monday, March 10th. Ten research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Devon Energy currently has a consensus rating of “Moderate Buy” and an average price target of $48.29.

Devon Energy Trading Down 0.3 %

Shares of DVN opened at $36.79 on Monday. Devon Energy Co. has a 12 month low of $30.39 and a 12 month high of $55.09. The stock’s 50-day moving average is $35.38 and its two-hundred day moving average is $36.84. 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 stock has a market cap of $23.87 billion, a PE ratio of 8.07, a P/E/G ratio of 1.20 and a beta of 1.91.

Devon Energy (NYSE:DVN) last released 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. The firm had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.25 billion. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. Equities analysts forecast that Devon Energy Co. will post 4.85 earnings per share for the current fiscal year.

Devon Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a dividend of $0.24 per share. This is an increase from Devon Energy’s previous quarterly dividend of $0.22. The ex-dividend date is Friday, March 14th. This represents a $0.96 annualized dividend and a yield of 2.61%. Devon Energy’s payout ratio is 21.05%.

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.