Sfmg LLC Lowers Stock Position in Devon Energy Co. (NYSE:DVN)

Sfmg LLC lessened its stake in shares of Devon Energy Co. (NYSE:DVN) by 4.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,186 shares of the energy company’s stock after selling 2,685 shares during the quarter. Sfmg LLC’s holdings in Devon Energy were worth $2,035,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. American Century Companies Inc. lifted its position in shares of Devon Energy by 12.0% during the fourth quarter. American Century Companies Inc. now owns 897,151 shares of the energy company’s stock worth $29,364,000 after purchasing an additional 95,905 shares in the last quarter. Mizuho Securities USA LLC lifted its position in shares of Devon Energy by 53.3% during the fourth quarter. Mizuho Securities USA LLC now owns 62,259 shares of the energy company’s stock worth $2,038,000 after purchasing an additional 21,653 shares in the last quarter. Sciencast Management LP lifted its position in shares of Devon Energy by 4.7% during the fourth quarter. Sciencast Management LP now owns 53,374 shares of the energy company’s stock worth $1,747,000 after purchasing an additional 2,413 shares in the last quarter. Millstone Evans Group LLC acquired a new stake in shares of Devon Energy during the fourth quarter worth about $97,000. Finally, Summit Global Investments lifted its position in shares of Devon Energy by 37.3% during the fourth quarter. Summit Global Investments now owns 170,906 shares of the energy company’s stock worth $5,594,000 after purchasing an additional 46,407 shares in the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Performance

Shares of DVN opened at $36.18 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57. The firm has a market cap of $23.48 billion, a PE ratio of 7.93, a price-to-earnings-growth ratio of 1.20 and a beta of 1.91. The company’s 50 day simple moving average is $35.46 and its 200-day simple moving average is $37.06. Devon Energy Co. has a 12-month low of $30.39 and a 12-month high of $55.09.

Devon Energy (NYSE:DVN) last announced its earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share (EPS) for the quarter, topping 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. As a group, equities analysts predict that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.65%. This is a positive change from Devon Energy’s previous quarterly dividend of $0.22. The ex-dividend date is Friday, March 14th. Devon Energy’s dividend payout ratio (DPR) is 21.05%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on DVN. Benchmark reissued a “buy” rating and set a $44.00 price target on shares of Devon Energy in a research report on Thursday, February 20th. StockNews.com raised shares of Devon Energy from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Barclays raised their target price on shares of Devon Energy from $43.00 to $44.00 and gave the company an “equal weight” rating in a report on Thursday, February 20th. Piper Sandler raised their target price 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. Finally, Truist Financial raised their target price on shares of Devon Energy from $42.00 to $44.00 and gave the company a “hold” rating in a report on Thursday, February 20th. Ten analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.46.

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.