Jump Financial LLC Purchases Shares of 451,426 Devon Energy Co. (NYSE:DVN)

Jump Financial LLC acquired a new position in Devon Energy Co. (NYSE:DVN - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 451,426 shares of the energy company's stock, valued at approximately $14,775,000. Jump Financial LLC owned about 0.07% of Devon Energy as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of DVN. Klein Pavlis & Peasley Financial Inc. purchased a new position in Devon Energy during the fourth quarter valued at approximately $782,000. World Investment Advisors LLC grew its position in shares of Devon Energy by 3,440.3% during the 3rd quarter. World Investment Advisors LLC now owns 149,437 shares of the energy company's stock valued at $5,846,000 after purchasing an additional 145,216 shares in the last quarter. Resona Asset Management Co. Ltd. bought a new position in shares of Devon Energy in the fourth quarter worth $5,967,000. New York State Teachers Retirement System raised its position in shares of Devon Energy by 4.5% in the fourth quarter. New York State Teachers Retirement System now owns 736,351 shares of the energy company's stock worth $24,101,000 after buying an additional 31,520 shares in the last quarter. Finally, First Dallas Securities Inc. boosted its stake in Devon Energy by 31.9% during the fourth quarter. First Dallas Securities Inc. now owns 52,715 shares of the energy company's stock valued at $1,725,000 after buying an additional 12,760 shares during the period. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Devon Energy Stock Performance

Shares of DVN stock traded up $0.99 during trading hours on Friday, reaching $30.29. The company had a trading volume of 10,348,261 shares, compared to its average volume of 8,456,363. The business has a fifty day moving average price of $33.92 and a 200-day moving average price of $35.83. The firm has a market cap of $19.66 billion, a PE ratio of 6.64, a price-to-earnings-growth ratio of 1.20 and a beta of 1.50. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.04. Devon Energy Co. has a one year low of $25.89 and a one year high of $53.20.

Devon Energy (NYSE:DVN - Get Free Report) last posted its earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share for the quarter, beating analysts' consensus estimates of $1.00 by $0.16. The company had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.25 billion. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. Sell-side analysts predict that Devon Energy Co. will post 4.85 earnings per share for the current fiscal year.

Devon Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend was Friday, March 14th. This is a boost from Devon Energy's previous quarterly dividend of $0.22. Devon Energy's dividend payout ratio is 21.05%.

Analyst Upgrades and Downgrades

DVN has been the topic of a number of recent analyst reports. Truist Financial raised their target price on shares of Devon Energy from $42.00 to $44.00 and gave the company a "hold" rating in a research note on Thursday, February 20th. Piper Sandler increased their price objective on Devon Energy from $54.00 to $55.00 and gave the company an "overweight" rating in a research note on Monday, February 24th. Mizuho lowered their price target on shares of Devon Energy from $49.00 to $46.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Barclays raised their price target on shares of Devon Energy from $43.00 to $44.00 and gave the stock an "equal weight" rating in a report on Thursday, February 20th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Devon Energy from $48.00 to $42.00 and set a "neutral" rating for the company in a report on Thursday, March 13th. Ten analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $46.71.

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.