Shay Capital LLC Takes Position in Devon Energy Co. (NYSE:DVN)

Shay Capital LLC purchased a new position in shares of Devon Energy Co. (NYSE:DVN) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 23,750 shares of the energy company’s stock, valued at approximately $777,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Klein Pavlis & Peasley Financial Inc. bought a new stake in Devon Energy in the fourth quarter valued at approximately $782,000. Resona Asset Management Co. Ltd. bought a new position in shares of Devon Energy during the 4th quarter worth about $5,967,000. New York State Teachers Retirement System grew its stake in Devon Energy by 4.5% in the fourth quarter. New York State Teachers Retirement System now owns 736,351 shares of the energy company’s stock valued at $24,101,000 after acquiring an additional 31,520 shares during the period. First Dallas Securities Inc. raised its position in shares of Devon Energy by 31.9% during the fourth quarter. First Dallas Securities Inc. now owns 52,715 shares of the energy company’s stock worth $1,725,000 after purchasing an additional 12,760 shares during the period. Finally, Aviva PLC lifted its stake in shares of Devon Energy by 767.3% in the fourth quarter. Aviva PLC now owns 376,999 shares of the energy company’s stock valued at $12,339,000 after buying an additional 333,530 shares in the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Devon Energy Stock Performance

NYSE DVN opened at $33.39 on Friday. Devon Energy Co. has a 52-week low of $25.89 and a 52-week high of $50.24. The company has a fifty day moving average of $32.52 and a 200-day moving average of $34.60. The company has a market capitalization of $21.44 billion, a P/E ratio of 7.32, a P/E/G ratio of 1.20 and a beta of 1.00. 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 issued its earnings results on Tuesday, May 6th. The energy company reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.06). Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. The firm had revenue of $4.45 billion during the quarter, compared to analysts’ expectations of $4.31 billion. During the same period in the prior year, the company earned $1.16 EPS. The firm’s quarterly revenue was up 23.8% compared to the same quarter last year. As a group, equities research analysts predict that Devon Energy Co. will post 4.85 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given 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 2.88%. Devon Energy’s payout ratio is 21.87%.

Wall Street Analyst Weigh In

DVN has been the subject of a number of recent research reports. Morgan Stanley set a $47.00 price objective on Devon Energy and gave the stock an “overweight” rating in a report on Wednesday, March 26th. Benchmark reiterated a “buy” rating and set a $44.00 target price on shares of Devon Energy in a research note on Thursday, February 20th. Truist Financial lifted their price target on shares of Devon Energy from $42.00 to $44.00 and gave the stock a “hold” rating in a report on Thursday, February 20th. Wells Fargo & Company increased their price target on Devon Energy from $44.00 to $46.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Citigroup lowered their price target on shares of Devon Energy from $46.00 to $43.00 and set a “buy” rating on the stock in a research report on Friday, April 4th. Ten research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $43.83.

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.