Devon Energy Co. (NYSE:DVN) Shares Sold by Huber Capital Management LLC

Huber Capital Management LLC decreased its position in Devon Energy Co. (NYSE:DVN) by 33.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,200 shares of the energy company’s stock after selling 10,200 shares during the quarter. Huber Capital Management LLC’s holdings in Devon Energy were worth $661,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in Devon Energy by 7.3% during the fourth quarter. Vanguard Group Inc. now owns 80,682,170 shares of the energy company’s stock valued at $2,640,727,000 after purchasing an additional 5,465,692 shares during the last quarter. Geode Capital Management LLC boosted its stake in Devon Energy by 6.5% in the fourth quarter. Geode Capital Management LLC now owns 16,931,275 shares of the energy company’s stock valued at $552,830,000 after acquiring an additional 1,038,305 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Devon Energy by 2.3% during the fourth quarter. Victory Capital Management Inc. now owns 10,203,812 shares of the energy company’s stock valued at $333,971,000 after purchasing an additional 232,469 shares during the last quarter. Thrivent Financial for Lutherans raised its position in shares of Devon Energy by 10.8% during the 4th quarter. Thrivent Financial for Lutherans now owns 5,694,373 shares of the energy company’s stock worth $186,714,000 after purchasing an additional 554,219 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of Devon Energy in the 4th quarter worth approximately $154,170,000. 69.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

DVN has been the topic of several analyst reports. Benchmark reaffirmed a “buy” rating and issued a $44.00 target price on shares of Devon Energy in a research report on Thursday, February 20th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $50.00 price objective on shares of Devon Energy in a report on Friday, January 10th. Cowen lowered shares of Devon Energy to a “hold” rating and reduced their target price for the company from $46.00 to $45.00 in a research note on Tuesday, February 18th. Mizuho cut their price target on Devon Energy from $51.00 to $47.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Finally, Piper Sandler boosted their price objective on Devon Energy from $54.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. Ten research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Devon Energy presently has a consensus rating of “Moderate Buy” and an average price target of $48.29.

Devon Energy Trading Up 0.9 %

Shares of NYSE DVN opened at $37.92 on Thursday. 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 $30.39 and a 12 month high of $55.09. The company has a market cap of $24.61 billion, a price-to-earnings ratio of 8.32, a P/E/G ratio of 1.20 and a beta of 1.91. The business has a fifty day simple moving average of $35.42 and a 200-day simple moving average of $36.82.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.16. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The business had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.25 billion. Sell-side analysts predict that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a dividend of $0.24 per share. This is an increase from Devon Energy’s previous quarterly dividend of $0.22. The ex-dividend date was Friday, March 14th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.53%. Devon Energy’s payout ratio is currently 21.05%.

Devon Energy 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.