OneDigital Investment Advisors LLC Has $457,000 Position in Devon Energy Co. (NYSE:DVN)

OneDigital Investment Advisors LLC decreased its position in Devon Energy Co. (NYSE:DVN) by 33.7% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 13,949 shares of the energy company’s stock after selling 7,085 shares during the period. OneDigital Investment Advisors LLC’s holdings in Devon Energy were worth $457,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of DVN. Vanguard Group Inc. grew its holdings in Devon Energy by 7.3% during the fourth quarter. Vanguard Group Inc. now owns 80,682,170 shares of the energy company’s stock worth $2,640,727,000 after purchasing an additional 5,465,692 shares during the period. Raymond James Financial Inc. bought a new position in Devon Energy during the 4th quarter worth $154,170,000. Marshall Wace LLP raised its stake in Devon Energy by 135.5% in the fourth quarter. Marshall Wace LLP now owns 5,371,518 shares of the energy company’s stock valued at $175,810,000 after purchasing an additional 3,090,585 shares in the last quarter. Invesco Ltd. increased its holdings in Devon Energy by 32.8% in the 4th quarter. Invesco Ltd. now owns 9,461,719 shares of the energy company’s stock valued at $309,682,000 after buying an additional 2,335,473 shares during the period. Finally, HITE Hedge Asset Management LLC acquired a new position in Devon Energy during the fourth quarter valued at approximately $51,522,000. Institutional investors and hedge funds own 69.72% of the company’s stock.

Analyst Upgrades and Downgrades

DVN has been the topic of several research analyst reports. StockNews.com raised Devon Energy from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Morgan Stanley set a $47.00 price target on shares of Devon Energy and gave the company an “overweight” rating in a report on Wednesday, March 26th. Susquehanna increased their price objective on shares of Devon Energy from $50.00 to $52.00 and gave the company a “positive” rating in a research note on Thursday, February 20th. Royal Bank of Canada decreased their target price on shares of Devon Energy from $49.00 to $40.00 and set a “sector perform” rating on the stock in a research note on Monday, April 14th. Finally, Truist Financial increased their price target on Devon Energy from $42.00 to $44.00 and gave the company a “hold” rating in a research note on Thursday, February 20th. Ten equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $46.71.

Devon Energy Stock Performance

DVN stock opened at $30.29 on Friday. Devon Energy Co. has a 1-year low of $25.89 and a 1-year high of $53.20. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57. The stock has a 50-day moving average price of $33.92 and a 200-day moving average price of $35.83. The firm has a market cap of $19.66 billion, a PE ratio of 6.64, a price-to-earnings-growth ratio of 1.20 and a beta of 1.50.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results 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. The firm had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.25 billion. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. As a group, equities research analysts expect that Devon Energy Co. will post 4.85 earnings per share for the current year.

Devon Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a $0.24 dividend. This is an increase from Devon Energy’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend was Friday, March 14th. 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.