Corient Private Wealth LLC Acquires 1,360 Shares of Devon Energy Co. (NYSE:DVN)

Corient Private Wealth LLC increased its holdings in shares of Devon Energy Co. (NYSE:DVN) by 1.4% during the 4th quarter, HoldingsChannel reports. The fund owned 95,741 shares of the energy company’s stock after buying an additional 1,360 shares during the period. Corient Private Wealth LLC’s holdings in Devon Energy were worth $3,134,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Geode Capital Management LLC boosted its stake in Devon Energy by 1.3% during the third quarter. Geode Capital Management LLC now owns 15,892,970 shares of the energy company’s stock worth $619,747,000 after acquiring an additional 206,884 shares in the last quarter. EnCap Energy Capital Fund XI L.P. bought a new stake in Devon Energy during the third quarter worth about $461,857,000. EnCap Partners GP LLC bought a new stake in Devon Energy during the third quarter worth about $408,653,000. Victory Capital Management Inc. raised its holdings in Devon Energy by 2.3% in the fourth quarter. Victory Capital Management Inc. now owns 10,203,812 shares of the energy company’s stock worth $333,971,000 after buying an additional 232,469 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Devon Energy by 1.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,793,610 shares of the energy company’s stock worth $265,766,000 after buying an additional 70,848 shares in the last quarter. Institutional investors own 69.72% of the company’s stock.

Devon Energy Trading Up 0.1 %

Shares of DVN stock opened at $36.18 on Friday. Devon Energy Co. has a 1 year low of $30.39 and a 1 year high of $55.09. The firm has a fifty day moving average price of $35.46 and a 200-day moving average price of $37.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01. The company has a market cap of $23.48 billion, a price-to-earnings ratio of 7.93, a PEG ratio of 1.20 and a beta of 1.91.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data 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 firm had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.25 billion. As a group, equities analysts predict that Devon Energy Co. will post 4.85 earnings per share for the current year.

Devon Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given 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 is Friday, March 14th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.65%. Devon Energy’s payout ratio is presently 21.05%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on DVN shares. Mizuho reduced their price target on shares of Devon Energy from $51.00 to $47.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Raymond James reduced their price target on shares of Devon Energy from $54.00 to $46.00 and set an “outperform” rating for the company in a research report on Monday, March 10th. StockNews.com raised shares of Devon Energy from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Cowen downgraded shares of Devon Energy to a “hold” rating and reduced their price target for the company from $46.00 to $45.00 in a research report on Tuesday, February 18th. Finally, Citigroup reduced their price target on shares of Devon Energy from $48.00 to $46.00 and set a “buy” rating for the company in a research report on Monday, March 17th. Ten equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.46.

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.