Vinva Investment Management Ltd Has $985,000 Stock Holdings in Devon Energy Co. (NYSE:DVN)

Vinva Investment Management Ltd cut its holdings in Devon Energy Co. (NYSE:DVN) by 89.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,818 shares of the energy company’s stock after selling 249,362 shares during the period. Vinva Investment Management Ltd’s holdings in Devon Energy were worth $985,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of DVN. Cromwell Holdings LLC boosted its holdings in Devon Energy by 98.0% in the fourth quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company’s stock worth $40,000 after purchasing an additional 598 shares in the last quarter. Sierra Ocean LLC bought a new stake in Devon Energy in the fourth quarter worth $43,000. True Wealth Design LLC boosted its holdings in Devon Energy by 3,889.3% in the third quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock worth $44,000 after purchasing an additional 1,089 shares in the last quarter. Activest Wealth Management boosted its holdings in Devon Energy by 60.4% in the third quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock worth $50,000 after purchasing an additional 480 shares in the last quarter. Finally, Endeavor Private Wealth Inc. bought a new stake in Devon Energy in the fourth quarter worth $52,000. 69.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on DVN. Citigroup decreased their price target on shares of Devon Energy from $48.00 to $46.00 and set a “buy” rating for the company in a report on Monday. Raymond James decreased their price target on shares of Devon Energy from $54.00 to $46.00 and set an “outperform” rating for the company in a report on Monday, March 10th. Piper Sandler upped their price target on shares of Devon Energy from $54.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, February 24th. Royal Bank of Canada restated a “sector perform” rating and set a $50.00 price target on shares of Devon Energy in a report on Friday, January 10th. Finally, Wolfe Research upgraded shares of Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price target for the company in a report on Friday, January 3rd. Ten investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $48.46.

Devon Energy Stock Performance

NYSE:DVN opened at $36.14 on Friday. Devon Energy Co. has a 12-month low of $30.39 and a 12-month high of $55.09. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $23.46 billion, a PE ratio of 7.93, a price-to-earnings-growth ratio of 1.20 and a beta of 1.91. The firm has a 50-day moving average price of $35.46 and a 200 day moving average price of $37.12.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.16. The company had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.25 billion. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. Research 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 disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.24 per share. This is a positive change from Devon Energy’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.96 annualized dividend and a dividend yield of 2.66%. Devon Energy’s dividend payout ratio (DPR) is presently 21.05%.

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.