NEOS Investment Management LLC Grows Holdings in Devon Energy Co. (NYSE:DVN)

NEOS Investment Management LLC lifted its position in shares of Devon Energy Co. (NYSE:DVN) by 30.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 36,889 shares of the energy company’s stock after buying an additional 8,707 shares during the quarter. NEOS Investment Management LLC’s holdings in Devon Energy were worth $1,207,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Legacy Investment Solutions LLC acquired a new position in Devon Energy in the 3rd quarter valued at $8,002,000. Petrus Trust Company LTA increased its stake in Devon Energy by 394.7% in the third quarter. Petrus Trust Company LTA now owns 21,827 shares of the energy company’s stock valued at $854,000 after purchasing an additional 17,415 shares during the last quarter. Klein Pavlis & Peasley Financial Inc. acquired a new stake in Devon Energy in the 4th quarter worth about $782,000. Fortem Financial Group LLC purchased a new stake in Devon Energy in the 3rd quarter valued at about $583,000. Finally, Centiva Capital LP increased its stake in shares of Devon Energy by 108.4% during the 3rd quarter. Centiva Capital LP now owns 57,361 shares of the energy company’s stock valued at $2,244,000 after acquiring an additional 29,837 shares during the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Barclays raised their target price on shares of Devon Energy from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 20th. Citigroup lowered their price objective on shares of Devon Energy from $48.00 to $46.00 and set a “buy” rating for the company in a research note on Monday, March 17th. StockNews.com raised Devon Energy from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Wells Fargo & Company lowered their price target on Devon Energy from $49.00 to $43.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Finally, 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 report on Friday, January 3rd. Ten equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $48.29.

Devon Energy Stock Down 0.3 %

DVN stock opened at $36.79 on Friday. The company has a market capitalization of $23.87 billion, a P/E ratio of 8.07, a PEG ratio of 1.20 and a beta of 1.91. The firm has a 50 day simple moving average of $35.38 and a 200-day simple moving average of $36.87. The company has a current ratio of 1.04, a quick ratio of 1.01 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.

Devon Energy (NYSE:DVN) last issued its earnings results 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. The business had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.25 billion. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. On average, equities research analysts predict that Devon Energy Co. will post 4.85 earnings per share 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. Stockholders of record on Friday, March 14th will be given a $0.24 dividend. This is a positive change from Devon Energy’s previous quarterly dividend of $0.22. The ex-dividend date is Friday, March 14th. This represents a $0.96 annualized dividend and a dividend yield of 2.61%. Devon Energy’s dividend payout ratio (DPR) is presently 21.05%.

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.