Blair William & Co. IL Increases Stock Position in Devon Energy Co. (NYSE:DVN)

Blair William & Co. IL increased its position in shares of Devon Energy Co. (NYSE:DVN) by 1.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 135,871 shares of the energy company’s stock after buying an additional 1,414 shares during the period. Blair William & Co. IL’s holdings in Devon Energy were worth $4,447,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

DVN has been the subject of a number of recent analyst reports. Piper Sandler raised their price target on shares of Devon Energy from $54.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. Wells Fargo & Company decreased their price objective on shares of Devon Energy from $49.00 to $43.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Sanford C. Bernstein upgraded shares of Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 target price on the stock in a research note on Wednesday, January 15th. Mizuho decreased their price target on Devon Energy from $51.00 to $47.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $50.00 price objective on shares of Devon Energy in a research note on Friday, January 10th. 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 currently has an average rating of “Moderate Buy” and a consensus target price of $48.29.

Devon Energy Price Performance

Shares of NYSE:DVN opened at $36.79 on Monday. 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’s 50 day moving average is $35.38 and its two-hundred day moving average is $36.84. The firm 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. Devon Energy Co. has a 52 week low of $30.39 and a 52 week high of $55.09.

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

Devon Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.24 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.96 annualized dividend and a yield of 2.61%. This is an increase from Devon Energy’s previous quarterly dividend of $0.22. Devon Energy’s dividend payout ratio is presently 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.