AGF Management Ltd. Sells 680 Shares of Devon Energy Co. (NYSE:DVN)

AGF Management Ltd. cut its holdings in Devon Energy Co. (NYSE:DVN) by 0.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 202,453 shares of the energy company’s stock after selling 680 shares during the period. AGF Management Ltd.’s holdings in Devon Energy were worth $6,626,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Cromwell Holdings LLC lifted its stake in Devon Energy by 98.0% in the fourth quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company’s stock valued at $40,000 after purchasing an additional 598 shares during the last quarter. Sierra Ocean LLC purchased a new position in Devon Energy in the fourth quarter valued at approximately $43,000. True Wealth Design LLC lifted its stake 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 valued at $44,000 after purchasing an additional 1,089 shares during the last quarter. Activest Wealth Management lifted its stake in Devon Energy by 60.4% in the third quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock valued at $50,000 after purchasing an additional 480 shares during the last quarter. Finally, Endeavor Private Wealth Inc. purchased a new position in Devon Energy in the fourth quarter valued at approximately $52,000. 69.72% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

DVN has been the topic of several research analyst reports. Wolfe Research upgraded Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price objective on the stock in a research note on Friday, January 3rd. Truist Financial upped their price objective on Devon Energy from $42.00 to $44.00 and gave the company a “hold” rating in a research note on Thursday, February 20th. StockNews.com upgraded Devon Energy from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Susquehanna increased their target price on Devon Energy from $50.00 to $52.00 and gave the stock a “positive” rating in a research report on Thursday, February 20th. Finally, Benchmark restated a “buy” rating and set a $44.00 target price on shares of Devon Energy in a research report on Thursday, February 20th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Devon Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.58.

Devon Energy Trading Up 1.1 %

Shares of DVN stock opened at $34.79 on Thursday. The company has a market capitalization of $22.58 billion, a PE ratio of 7.63, a price-to-earnings-growth ratio of 1.20 and a beta of 1.91. 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 Co. has a 52-week low of $30.39 and a 52-week high of $55.09. The business’s fifty day moving average is $35.36 and its 200 day moving average is $37.47.

Devon Energy (NYSE:DVN) last released its earnings results on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.16. The business had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.25 billion. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. On average, equities research analysts anticipate 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. Investors of record on Friday, March 14th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date is Friday, March 14th. This is a boost from Devon Energy’s previous quarterly dividend of $0.22. Devon Energy’s dividend 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.