Devon Energy Co. (NYSE:DVN) Position Increased by Huntington National Bank

Huntington National Bank grew its position in Devon Energy Co. (NYSE:DVN) by 84.6% 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 4,910 shares of the energy company’s stock after buying an additional 2,250 shares during the quarter. Huntington National Bank’s holdings in Devon Energy were worth $161,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Headlands Technologies LLC acquired a new position in Devon Energy in the 4th quarter worth approximately $150,000. Geode Capital Management LLC boosted its position in shares of Devon Energy by 6.5% in the fourth quarter. Geode Capital Management LLC now owns 16,931,275 shares of the energy company’s stock worth $552,830,000 after buying an additional 1,038,305 shares during the period. StoneX Group Inc. grew its holdings in shares of Devon Energy by 90.8% during the fourth quarter. StoneX Group Inc. now owns 41,724 shares of the energy company’s stock valued at $1,366,000 after buying an additional 19,859 shares in the last quarter. B. Metzler seel. Sohn & Co. AG raised its position in Devon Energy by 6.2% during the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 21,900 shares of the energy company’s stock valued at $717,000 after buying an additional 1,286 shares during the period. Finally, Summit Financial LLC lifted its stake in Devon Energy by 168.4% in the 4th quarter. Summit Financial LLC now owns 32,159 shares of the energy company’s stock worth $1,053,000 after acquiring an additional 20,176 shares in the last quarter. 69.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DVN has been the topic of several research analyst reports. Citigroup lowered their target price on Devon Energy from $46.00 to $43.00 and set a “buy” rating on the stock in a research note on Friday. Barclays boosted their price objective on shares of Devon Energy from $43.00 to $44.00 and gave the company an “equal weight” rating in a research report on Thursday, February 20th. Mizuho cut their target price 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. Wolfe Research upgraded shares of Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price target on the stock in a report on Friday, January 3rd. Finally, JPMorgan Chase & Co. cut their price objective on Devon Energy from $48.00 to $42.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. Ten research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Devon Energy currently has an average rating of “Moderate Buy” and an average target price of $48.17.

Devon Energy Stock Performance

Shares of NYSE:DVN opened at $29.30 on Friday. 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 business’s fifty day moving average price is $35.22 and its two-hundred day moving average price is $36.70. Devon Energy Co. has a fifty-two week low of $29.06 and a fifty-two week high of $55.09. The stock has a market capitalization of $19.01 billion, a price-to-earnings ratio of 6.42, a price-to-earnings-growth ratio of 1.20 and a beta of 1.50.

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

Devon Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a dividend of $0.24 per share. This is a positive change from Devon Energy’s previous quarterly dividend of $0.22. The ex-dividend date was Friday, March 14th. This represents a $0.96 annualized dividend and a dividend yield of 3.28%. Devon Energy’s dividend payout ratio (DPR) 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.