Boothbay Fund Management LLC Makes New Investment in Devon Energy Co. (NYSE:DVN)

Boothbay Fund Management LLC bought a new position in shares of Devon Energy Co. (NYSE:DVN) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 45,574 shares of the energy company’s stock, valued at approximately $1,492,000.

A number of other institutional investors have also recently modified their holdings of the business. Hurley Capital LLC purchased a new position in Devon Energy during the fourth quarter worth approximately $26,000. Cromwell Holdings LLC lifted its position in shares of Devon Energy by 98.0% during the 4th 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 in the last quarter. Sierra Ocean LLC acquired a new stake in Devon Energy in the 4th quarter valued at $43,000. Endeavor Private Wealth Inc. acquired a new stake in Devon Energy in the 4th quarter valued at $52,000. Finally, Thompson Investment Management Inc. increased its holdings in Devon Energy by 60.0% in the 4th quarter. Thompson Investment Management Inc. now owns 1,600 shares of the energy company’s stock worth $52,000 after acquiring an additional 600 shares in the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Devon Energy Trading Up 0.6 %

DVN opened at $31.55 on Tuesday. The stock has a market capitalization of $20.48 billion, a PE ratio of 6.92, a P/E/G ratio of 1.20 and a beta of 1.50. Devon Energy Co. has a one year low of $25.89 and a one year high of $53.20. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.04. The business’s 50 day moving average price is $33.44 and its 200 day moving average price is $35.28.

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 business 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%. As a group, equities research analysts expect that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.04%. This is an increase from Devon Energy’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, March 14th. Devon Energy’s payout ratio is 21.05%.

Analyst Upgrades and Downgrades

DVN has been the subject of a number of research reports. Truist Financial boosted their target price on shares of Devon Energy from $42.00 to $44.00 and gave the stock a “hold” rating in a research note on Thursday, February 20th. Mizuho cut their price objective on Devon Energy from $49.00 to $46.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. Barclays decreased their target price on Devon Energy from $44.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 23rd. StockNews.com raised Devon Energy from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Finally, Citigroup reduced their price objective on Devon Energy from $46.00 to $43.00 and set a “buy” rating for the company in a research note on Friday, April 4th. Ten research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.83.

About Devon Energy

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.