Devon Energy Co. (NYSE:DVN) Stake Lifted by Advisors Asset Management Inc.

Advisors Asset Management Inc. increased its holdings in Devon Energy Co. (NYSE:DVN - Free Report) by 7.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 139,708 shares of the energy company's stock after purchasing an additional 9,510 shares during the period. Advisors Asset Management Inc.'s holdings in Devon Energy were worth $4,573,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in DVN. Cromwell Holdings LLC increased its stake in shares of Devon Energy by 98.0% during the 4th quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company's stock valued at $40,000 after acquiring an additional 598 shares during the last quarter. Sierra Ocean LLC purchased a new stake in Devon Energy in the fourth quarter valued at approximately $43,000. True Wealth Design LLC increased its stake in Devon Energy by 3,889.3% during the third quarter. True Wealth Design LLC now owns 1,117 shares of the energy company's stock worth $44,000 after acquiring an additional 1,089 shares during the last quarter. Activest Wealth Management raised its holdings in shares of Devon Energy by 60.4% in the 3rd quarter. Activest Wealth Management now owns 1,275 shares of the energy company's stock worth $50,000 after purchasing an additional 480 shares during the period. Finally, Endeavor Private Wealth Inc. acquired a new position in shares of Devon Energy in the 4th quarter valued at about $52,000. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Williams Trading set a $50.00 price target on shares of Devon Energy in a report on Wednesday, March 5th. Wells Fargo & Company cut their target price on shares of Devon Energy from $49.00 to $43.00 and set an "overweight" rating on the stock in a research note on Tuesday, December 17th. Piper Sandler upped their price target on shares of Devon Energy from $54.00 to $55.00 and gave the stock an "overweight" rating in a research report on Monday, February 24th. Wolfe Research raised Devon Energy from a "peer perform" rating to an "outperform" rating and set a $45.00 price objective on the stock in a research report on Friday, January 3rd. Finally, Mizuho decreased their target price on Devon Energy from $51.00 to $47.00 and set an "outperform" rating for the company in a research report on Monday, December 16th. Ten analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $48.46.

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Devon Energy Stock Performance

NYSE DVN traded up $0.82 on Monday, hitting $36.97. The stock had a trading volume of 5,721,024 shares, compared to its average volume of 7,846,367. The company's 50-day moving average is $35.46 and its two-hundred day moving average is $36.98. Devon Energy Co. has a one year low of $30.39 and a one year high of $55.09. The stock has a market cap of $24.00 billion, a price-to-earnings ratio of 8.11, a P/E/G ratio of 1.20 and a beta of 1.91. 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 - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.00 by $0.16. The business had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.25 billion. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. On average, analysts expect that Devon Energy Co. will post 4.85 earnings per share for the current year.

Devon Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.60%. This is a positive change 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 21.05%.

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.