Bokf Na Raises Stake in Devon Energy Co. (NYSE:DVN)

Bokf Na increased its position in shares of Devon Energy Co. (NYSE:DVN) by 3.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 65,770 shares of the energy company’s stock after acquiring an additional 1,929 shares during the quarter. Bokf Na’s holdings in Devon Energy were worth $2,367,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hurley Capital LLC acquired a new stake in shares of Devon Energy during the fourth quarter worth $26,000. Accredited Wealth Management LLC purchased a new stake in Devon Energy in the 4th quarter valued at about $28,000. Cromwell Holdings LLC increased its stake 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 acquiring an additional 598 shares during the last quarter. Sierra Ocean LLC purchased a new position in shares of Devon Energy during the 4th quarter worth about $43,000. Finally, Endeavor Private Wealth Inc. acquired a new position in shares of Devon Energy in the 4th quarter valued at $52,000. 69.72% of the stock is owned by hedge funds and other institutional investors.

Devon Energy Price Performance

NYSE:DVN opened at $30.28 on Thursday. The firm has a market cap of $19.48 billion, a PE ratio of 6.64, a price-to-earnings-growth ratio of 1.20 and a beta of 1.00. The company’s 50-day moving average price is $32.63 and its two-hundred day moving average price is $34.86. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. Devon Energy Co. has a 12 month low of $25.89 and a 12 month high of $51.20.

Devon Energy (NYSE:DVN) last announced its earnings results on Tuesday, May 6th. The energy company reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.06). Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The business had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.31 billion. During the same quarter last year, the business posted $1.16 earnings per share. The business’s quarterly revenue was up 23.8% compared to the same quarter last year. On average, equities analysts anticipate that Devon Energy Co. will post 4.85 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.96 annualized dividend and a yield of 3.17%. Devon Energy’s dividend payout ratio is currently 21.05%.

Analyst Upgrades and Downgrades

DVN has been the subject of several research analyst reports. Piper Sandler dropped their price target 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. Truist Financial raised their price target on shares of Devon Energy from $42.00 to $44.00 and gave the company a “hold” rating in a report on Thursday, February 20th. Susquehanna decreased their price objective on shares of Devon Energy from $52.00 to $41.00 and set a “positive” rating for the company in a research note on Tuesday, April 22nd. Scotiabank cut their target price on shares of Devon Energy from $45.00 to $35.00 and set a “sector outperform” rating on the stock in a research note on Friday, April 11th. Finally, Mizuho decreased their price target on shares of Devon Energy from $49.00 to $46.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. One analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.96.

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.