Jones Financial Companies Lllp Boosts Holdings in Devon Energy Co. (NYSE:DVN)

Jones Financial Companies Lllp boosted its position in Devon Energy Co. (NYSE:DVN) by 180.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 42,279 shares of the energy company’s stock after purchasing an additional 27,214 shares during the quarter. Jones Financial Companies Lllp’s holdings in Devon Energy were worth $1,384,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of DVN. Bridgewater Associates LP bought a new position in shares of Devon Energy in the 3rd quarter worth $9,426,000. Legacy Investment Solutions LLC bought a new position in shares of Devon Energy in the 3rd quarter worth $8,002,000. Petrus Trust Company LTA increased its holdings in shares of Devon Energy by 394.7% in the 3rd quarter. Petrus Trust Company LTA now owns 21,827 shares of the energy company’s stock worth $854,000 after buying an additional 17,415 shares during the last quarter. CIBC Asset Management Inc increased its holdings in shares of Devon Energy by 6.3% in the 3rd quarter. CIBC Asset Management Inc now owns 107,182 shares of the energy company’s stock worth $4,193,000 after buying an additional 6,358 shares during the last quarter. Finally, Smead Capital Management Inc. increased its holdings in shares of Devon Energy by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 5,879,516 shares of the energy company’s stock worth $230,007,000 after buying an additional 198,193 shares during the last quarter. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on DVN shares. Piper Sandler increased their price target on shares of Devon Energy from $54.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, February 24th. Wells Fargo & Company decreased their price target on shares of Devon Energy from $49.00 to $43.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Truist Financial increased their target price on shares of Devon Energy from $42.00 to $44.00 and gave the company a “hold” rating in a report on Thursday, February 20th. Benchmark reaffirmed a “buy” rating and set a $44.00 target price on shares of Devon Energy in a report on Thursday, February 20th. Finally, Sanford C. Bernstein raised 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 report on Wednesday, January 15th. Ten investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $48.87.

Devon Energy Trading Up 2.6 %

NYSE:DVN opened at $34.74 on Friday. The company has a 50-day moving average price of $35.17 and a 200-day moving average price of $37.79. Devon Energy Co. has a 12 month low of $30.39 and a 12 month high of $55.09. 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 stock has a market cap of $22.54 billion, a price-to-earnings ratio of 7.62, a P/E/G ratio of 1.20 and a beta of 1.91.

Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, February 18th. The energy company reported $1.16 EPS 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 firm had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.25 billion. Equities analysts predict that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Increases Dividend

The business 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 represents a $0.96 annualized dividend and a dividend yield of 2.76%. This is a boost from Devon Energy’s previous quarterly dividend of $0.22. The ex-dividend date is Friday, March 14th. Devon Energy’s dividend payout ratio (DPR) is currently 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.