MV Capital Management Inc. Has $97,000 Stock Position in Devon Energy Co. (NYSE:DVN)

MV Capital Management Inc. grew its holdings in Devon Energy Co. (NYSE:DVN) by 105.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,959 shares of the energy company’s stock after purchasing an additional 1,517 shares during the quarter. MV Capital Management Inc.’s holdings in Devon Energy were worth $97,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. True Wealth Design LLC raised its position in Devon Energy by 3,889.3% in the 3rd quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock worth $44,000 after purchasing an additional 1,089 shares during the last quarter. Cromwell Holdings LLC grew its holdings in Devon Energy by 98.0% during the 4th quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company’s stock worth $40,000 after acquiring an additional 598 shares during the period. Sierra Ocean LLC bought a new stake in shares of Devon Energy during the 4th quarter valued at $43,000. Endeavor Private Wealth Inc. acquired a new position in shares of Devon Energy in the 4th quarter valued at $52,000. Finally, Thompson Investment Management Inc. boosted its position in shares of Devon Energy by 60.0% in the 4th quarter. Thompson Investment Management Inc. now owns 1,600 shares of the energy company’s stock worth $52,000 after purchasing an additional 600 shares during the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Stock Performance

Shares of DVN stock opened at $36.79 on Friday. The company has a fifty day moving average price of $35.38 and a two-hundred day moving average price of $36.89. Devon Energy Co. has a one year low of $30.39 and a one year high of $55.09. The stock has a market cap of $23.87 billion, a P/E ratio of 8.07, a P/E/G ratio of 1.20 and a beta of 1.91. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.16. The business had revenue of $4.40 billion during 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%. As a group, equities analysts predict that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.61%. 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 (DPR) is currently 21.05%.

Wall Street Analyst Weigh In

Several research firms have weighed in on DVN. Truist Financial increased their target price on Devon Energy from $42.00 to $44.00 and gave the company a “hold” rating in a research note on Thursday, February 20th. Cowen cut shares of Devon Energy to a “hold” rating and reduced their price target for the stock from $46.00 to $45.00 in a research report on Tuesday, February 18th. Wolfe Research upgraded Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price target for the company in a report on Friday, January 3rd. Sanford C. Bernstein upgraded Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price objective for the company in a research report on Wednesday, January 15th. Finally, Citigroup lowered their target price on Devon Energy from $48.00 to $46.00 and set a “buy” rating for the company in a research note on Monday, March 17th. Ten 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, Devon Energy has a consensus rating of “Moderate Buy” and an average price target of $48.29.

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.