Signaturefd LLC Acquires 1,958 Shares of Devon Energy Co. (NYSE:DVN)

Signaturefd LLC increased its holdings in shares of Devon Energy Co. (NYSE:DVN) by 12.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,001 shares of the energy company’s stock after purchasing an additional 1,958 shares during the quarter. Signaturefd LLC’s holdings in Devon Energy were worth $589,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Cibc World Markets Corp grew its holdings in shares of Devon Energy by 20.1% in the 4th quarter. Cibc World Markets Corp now owns 102,204 shares of the energy company’s stock valued at $3,345,000 after acquiring an additional 17,135 shares in the last quarter. Corient Private Wealth LLC increased its position in shares of Devon Energy by 1.4% during the 4th quarter. Corient Private Wealth LLC now owns 95,741 shares of the energy company’s stock worth $3,134,000 after purchasing an additional 1,360 shares during the last quarter. Ninepoint Partners LP increased its position in shares of Devon Energy by 12.5% during the 4th quarter. Ninepoint Partners LP now owns 450,000 shares of the energy company’s stock worth $14,728,000 after purchasing an additional 50,000 shares during the last quarter. Greatmark Investment Partners Inc. raised its stake in shares of Devon Energy by 13.5% during the 4th quarter. Greatmark Investment Partners Inc. now owns 441,627 shares of the energy company’s stock worth $14,454,000 after purchasing an additional 52,630 shares in the last quarter. Finally, Monaco Asset Management SAM acquired a new stake in shares of Devon Energy in the 4th quarter valued at approximately $6,546,000. Institutional investors own 69.72% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on DVN shares. Wolfe Research raised shares of Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price target on the stock in a research report on Friday, January 3rd. Mizuho cut their target price on shares of Devon Energy from $51.00 to $47.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Susquehanna lifted their price target on Devon Energy from $50.00 to $52.00 and gave the stock a “positive” rating in a report on Thursday, February 20th. 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. Finally, Piper Sandler lifted their target price on Devon Energy from $54.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, February 24th. Ten equities 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, the company presently has an average rating of “Moderate Buy” and a consensus price target of $48.46.

Devon Energy Trading Up 2.0 %

DVN opened at $36.08 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 twelve month low of $30.39 and a twelve month high of $55.09. The stock has a market capitalization of $23.41 billion, a price-to-earnings ratio of 7.91, a P/E/G ratio of 1.20 and a beta of 1.91. The company has a 50-day simple moving average of $35.44 and a 200 day simple moving average of $37.13.

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

Devon Energy Increases Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Devon Energy’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a yield of 2.66%. Devon Energy’s dividend payout ratio (DPR) is 21.05%.

About Devon Energy

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.