Boothe Investment Group Inc. Has $5.33 Million Stock Position in Devon Energy Co. (NYSE:DVN)

Boothe Investment Group Inc. lifted its holdings in shares of Devon Energy Co. (NYSE:DVN) by 36.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 162,858 shares of the energy company’s stock after buying an additional 43,441 shares during the period. Devon Energy makes up approximately 2.3% of Boothe Investment Group Inc.’s portfolio, making the stock its 19th largest position. Boothe Investment Group Inc.’s holdings in Devon Energy were worth $5,330,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new position in Devon Energy in the 3rd quarter valued at $35,000. True Wealth Design LLC grew its stake 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 valued at $44,000 after buying an additional 1,089 shares during the last quarter. Cromwell Holdings LLC grew its stake in Devon Energy by 98.0% in the 4th quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company’s stock valued at $40,000 after buying an additional 598 shares during the last quarter. Hazlett Burt & Watson Inc. grew its stake in Devon Energy by 29.8% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock valued at $49,000 after buying an additional 290 shares during the last quarter. Finally, Activest Wealth Management grew its stake in Devon Energy by 60.4% in the 3rd quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock valued at $50,000 after buying an additional 480 shares during the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Trading Down 2.8 %

Shares of DVN stock opened at $37.49 on Monday. Devon Energy Co. has a 12-month low of $30.39 and a 12-month high of $55.09. The company has a market capitalization of $24.33 billion, a P/E ratio of 8.22, a P/E/G ratio of 1.20 and a beta of 1.98. The firm has a 50-day moving average price of $34.47 and a 200 day moving average price of $38.31. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.57.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.25 billion. Research analysts forecast that Devon Energy Co. will post 4.85 earnings per share for the current fiscal year.

Devon Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.56%. 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 presently 19.30%.

Analysts Set New Price Targets

A number of analysts have weighed in on DVN shares. Piper Sandler increased their price target on shares of Devon Energy from $53.00 to $54.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Mizuho reduced their price target on shares of Devon Energy from $51.00 to $47.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Truist Financial increased their price target on shares of Devon Energy from $42.00 to $44.00 and gave the company a “hold” rating in a report on Thursday. StockNews.com raised shares of Devon Energy from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Finally, Sanford C. Bernstein raised shares of Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price target for the company in a report on Wednesday, January 15th. Ten research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $48.83.

Devon Energy 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.