Advisory Services Network LLC Has $2.44 Million Stock Holdings in Devon Energy Co. (NYSE:DVN)

Advisory Services Network LLC lifted its stake in Devon Energy Co. (NYSE:DVN - Free Report) by 74.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 74,500 shares of the energy company's stock after purchasing an additional 31,791 shares during the quarter. Advisory Services Network LLC's holdings in Devon Energy were worth $2,438,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of DVN. Sfmg LLC grew its position in Devon Energy by 0.5% in the third quarter. Sfmg LLC now owns 64,871 shares of the energy company's stock worth $2,538,000 after acquiring an additional 294 shares in the last quarter. Redwood Wealth Management Group LLC increased its holdings in shares of Devon Energy by 3.9% during the 4th quarter. Redwood Wealth Management Group LLC now owns 8,141 shares of the energy company's stock worth $266,000 after purchasing an additional 309 shares during the period. Cornerstone Wealth Management LLC raised its holdings in Devon Energy by 1.6% in the 4th quarter. Cornerstone Wealth Management LLC now owns 21,242 shares of the energy company's stock valued at $695,000 after acquiring an additional 326 shares in the last quarter. Annex Advisory Services LLC grew its holdings in shares of Devon Energy by 1.2% during the 4th quarter. Annex Advisory Services LLC now owns 27,021 shares of the energy company's stock worth $884,000 after purchasing an additional 327 shares in the last quarter. Finally, Independence Bank of Kentucky increased its position in shares of Devon Energy by 7.8% during the fourth quarter. Independence Bank of Kentucky now owns 4,580 shares of the energy company's stock valued at $150,000 after purchasing an additional 330 shares during the period. Hedge funds and other institutional investors own 69.72% of the company's stock.

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Analysts Set New Price Targets

A number of research firms have weighed in on DVN. Cowen downgraded shares of Devon Energy to a "hold" rating and decreased their price target for the stock from $46.00 to $45.00 in a research note on Tuesday, February 18th. Barclays upped their target price on shares of Devon Energy from $43.00 to $44.00 and gave the company an "equal weight" rating in a research note on Thursday, February 20th. Benchmark restated a "buy" rating and set a $44.00 price target on shares of Devon Energy in a research note on Thursday, February 20th. Truist Financial upped their price objective on Devon Energy from $42.00 to $44.00 and gave the company a "hold" rating in a research note on Thursday, February 20th. Finally, Sanford C. Bernstein upgraded Devon Energy from a "market perform" rating to an "outperform" rating and set a $45.00 target price for the company in a research report on Wednesday, January 15th. Ten analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Devon Energy has an average rating of "Moderate Buy" and an average target price of $46.71.

Devon Energy Stock Up 0.2 %

NYSE DVN traded up $0.07 during trading on Tuesday, hitting $28.80. The stock had a trading volume of 3,499,254 shares, compared to its average volume of 8,377,560. Devon Energy Co. has a 12 month low of $25.89 and a 12 month high of $54.04. 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 company's 50-day moving average price is $34.27 and its two-hundred day moving average price is $36.06. The company has a market capitalization of $18.69 billion, a PE ratio of 6.32, a P/E/G ratio of 1.20 and a beta of 1.50.

Devon Energy (NYSE:DVN - Get Free Report) last announced 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 business had revenue of $4.40 billion during the quarter, compared to analysts' expectations of $4.25 billion. As a group, sell-side analysts forecast that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 3.33%. This is an increase from Devon Energy's previous quarterly dividend of $0.22. The ex-dividend date of this dividend was 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.