Mengis Capital Management Inc. Has $233,000 Stake in Devon Energy Co. (NYSE:DVN)

Mengis Capital Management Inc. decreased its stake in shares of Devon Energy Co. (NYSE:DVN) by 28.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,133 shares of the energy company’s stock after selling 2,867 shares during the quarter. Mengis Capital Management Inc.’s holdings in Devon Energy were worth $233,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Hazlett Burt & Watson Inc. grew its position in shares of Devon Energy by 29.8% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock worth $49,000 after buying an additional 290 shares during the period. Sfmg LLC grew its position in Devon Energy by 0.5% in the 3rd quarter. Sfmg LLC now owns 64,871 shares of the energy company’s stock valued at $2,538,000 after purchasing an additional 294 shares during the period. Redwood Wealth Management Group LLC grew its position in Devon Energy by 3.9% in the 4th quarter. Redwood Wealth Management Group LLC now owns 8,141 shares of the energy company’s stock valued at $266,000 after purchasing an additional 309 shares during the period. Cornerstone Wealth Management LLC grew its position in Devon Energy by 1.6% in the 4th quarter. Cornerstone Wealth Management LLC now owns 21,242 shares of the energy company’s stock valued at $695,000 after purchasing an additional 326 shares during the period. Finally, Annex Advisory Services LLC grew its position in Devon Energy by 1.2% in the 4th quarter. Annex Advisory Services LLC now owns 27,021 shares of the energy company’s stock valued at $884,000 after purchasing an additional 327 shares during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.

Analysts Set New Price Targets

DVN has been the subject of several research reports. StockNews.com raised shares of Devon Energy from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Piper Sandler lifted their price target on shares of Devon Energy from $54.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday. Cowen cut Devon Energy to a “hold” rating and dropped their price objective for the company from $46.00 to $45.00 in a research note on Tuesday, February 18th. Raymond James raised their price objective on Devon Energy from $53.00 to $54.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Finally, Wells Fargo & Company dropped their price objective on Devon Energy from $49.00 to $43.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Ten investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Devon Energy has an average rating of “Moderate Buy” and a consensus price target of $48.87.

Devon Energy Stock Down 0.6 %

DVN stock opened at $37.27 on Tuesday. Devon Energy Co. has a twelve month low of $30.39 and a twelve 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 $24.18 billion, a PE ratio of 8.17, a PEG ratio of 1.20 and a beta of 1.98. The stock has a 50-day simple moving average of $34.57 and a two-hundred day simple moving average of $38.26.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.00 by $0.16. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. The company had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.25 billion. On average, equities analysts predict that Devon Energy Co. will post 4.85 EPS for the current fiscal year.

Devon Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $0.24 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.96 annualized dividend and a yield of 2.58%. This is a positive change from Devon Energy’s previous quarterly dividend of $0.22. Devon Energy’s dividend payout ratio is currently 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.