Nebula Research & Development LLC Takes $444,000 Position in Devon Energy Co. (NYSE:DVN)

Nebula Research & Development LLC bought a new position in shares of Devon Energy Co. (NYSE:DVN) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 13,563 shares of the energy company’s stock, valued at approximately $444,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Hurley Capital LLC purchased a new stake in shares of Devon Energy during the fourth quarter worth $26,000. Cromwell Holdings LLC raised its position in Devon Energy by 98.0% in the 4th quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company’s stock valued at $40,000 after purchasing an additional 598 shares in the last quarter. Sierra Ocean LLC purchased a new position in shares of Devon Energy in the 4th quarter valued at about $43,000. Endeavor Private Wealth Inc. acquired a new position in shares of Devon Energy during the fourth quarter worth about $52,000. Finally, Thompson Investment Management Inc. increased its stake in shares of Devon Energy by 60.0% during the fourth quarter. Thompson Investment Management Inc. now owns 1,600 shares of the energy company’s stock worth $52,000 after buying an additional 600 shares during the period. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Devon Energy Trading Down 0.8 %

NYSE:DVN opened at $31.30 on Wednesday. The stock has a market capitalization of $20.14 billion, a price-to-earnings ratio of 6.86, a PEG ratio of 1.20 and a beta of 1.50. Devon Energy Co. has a 1 year low of $25.89 and a 1 year high of $52.86. The stock has a fifty day moving average price of $33.29 and a two-hundred day moving average price of $35.25. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.04.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.00 by $0.16. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The firm had revenue of $4.40 billion during 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 earnings per share for the current fiscal year.

Devon Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a $0.24 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.07%. This is a boost from Devon Energy’s previous quarterly dividend of $0.22. Devon Energy’s dividend payout ratio is currently 21.05%.

Wall Street Analyst Weigh In

Several research analysts have commented on DVN shares. Cowen cut shares of Devon Energy to a “hold” rating and lowered their price target for the stock from $46.00 to $45.00 in a report on Tuesday, February 18th. Citigroup dropped their target price on Devon Energy from $46.00 to $43.00 and set a “buy” rating on the stock in a report on Friday, April 4th. Susquehanna cut their price target on Devon Energy from $52.00 to $41.00 and set a “positive” rating on the stock in a research note on Tuesday, April 22nd. Wells Fargo & Company dropped their price objective on Devon Energy from $46.00 to $44.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. Finally, Piper Sandler decreased their target price on Devon Energy from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. Ten equities 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.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $43.87.

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.