Devon Energy Co. (NYSE:DVN) Holdings Decreased by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. decreased its holdings in shares of Devon Energy Co. (NYSE:DVN) by 10.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 59,963 shares of the energy company’s stock after selling 6,707 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Devon Energy were worth $1,963,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Capital Performance Advisors LLP purchased a new position in shares of Devon Energy during the third quarter valued at $35,000. Sierra Ocean LLC purchased a new position in shares of Devon Energy during the fourth quarter valued at $43,000. True Wealth Design LLC grew its stake in Devon Energy by 3,889.3% in the third 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. Hazlett Burt & Watson Inc. grew its stake in Devon Energy by 29.8% in the third quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock valued at $49,000 after purchasing an additional 290 shares in the last quarter. Finally, Activest Wealth Management grew its stake in Devon Energy by 60.4% in the third quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock valued at $50,000 after purchasing an additional 480 shares in the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Devon Energy Price Performance

NYSE DVN opened at $37.49 on Friday. Devon Energy Co. has a twelve month low of $30.39 and a twelve month high of $55.09. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.04. The stock has a market capitalization of $24.33 billion, a PE ratio of 8.22, a P/E/G ratio of 1.20 and a beta of 1.98. The stock has a 50-day simple moving average of $34.47 and a 200 day simple moving average of $38.35.

Devon Energy (NYSE:DVN) last posted its quarterly 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. The firm 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%. Research analysts anticipate that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a $0.24 dividend. This is a boost 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 yield of 2.56%. Devon Energy’s dividend payout ratio is 19.30%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on DVN shares. TD Cowen lowered their target price on Devon Energy from $54.00 to $46.00 and set a “hold” rating on the stock in a research note on Tuesday, November 5th. Citigroup lowered their target price on Devon Energy from $55.00 to $48.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. Truist Financial boosted 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. Wolfe Research upgraded Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 target price on the stock in a research note on Friday, January 3rd. Finally, Piper Sandler boosted their target price on Devon Energy from $53.00 to $54.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.83.

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.