Banco Santander S.A. Grows Stock Position in Devon Energy Co. (NYSE:DVN)

Banco Santander S.A. boosted its position in Devon Energy Co. (NYSE:DVN - Free Report) by 68.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 240,499 shares of the energy company's stock after acquiring an additional 98,135 shares during the quarter. Banco Santander S.A.'s holdings in Devon Energy were worth $7,872,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in DVN. Sfmg LLC increased its holdings in shares of Devon Energy by 0.5% in the 3rd quarter. Sfmg LLC now owns 64,871 shares of the energy company's stock valued at $2,538,000 after acquiring an additional 294 shares during the last quarter. Redwood Wealth Management Group LLC increased its stake in Devon Energy by 3.9% in the fourth quarter. Redwood Wealth Management Group LLC now owns 8,141 shares of the energy company's stock valued at $266,000 after purchasing an additional 309 shares during the last quarter. Cornerstone Wealth Management LLC raised its holdings in Devon Energy by 1.6% during the fourth quarter. Cornerstone Wealth Management LLC now owns 21,242 shares of the energy company's stock worth $695,000 after purchasing an additional 326 shares in the last quarter. Annex Advisory Services LLC lifted its position 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 buying an additional 327 shares during the last quarter. Finally, Fiduciary Trust Co boosted its holdings in shares of Devon Energy by 3.1% in the 3rd quarter. Fiduciary Trust Co now owns 11,074 shares of the energy company's stock valued at $433,000 after buying an additional 329 shares in the last quarter. Hedge funds and other institutional investors own 69.72% of the company's stock.

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Analysts Set New Price Targets

Several equities research analysts recently commented on DVN shares. StockNews.com upgraded shares of Devon Energy from a "sell" rating to a "hold" rating in a research note on Friday, January 3rd. 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 report on Friday, January 3rd. Raymond James decreased their target price on Devon Energy from $54.00 to $46.00 and set an "outperform" rating for the company in a research report on Monday. Cowen lowered Devon Energy to a "hold" rating and cut their price target for the stock from $46.00 to $45.00 in a research report on Tuesday, February 18th. Finally, Benchmark restated a "buy" rating and set a $44.00 target price on shares of Devon Energy in a research report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Devon Energy currently has a consensus rating of "Moderate Buy" and a consensus target price of $48.58.

Devon Energy Price Performance

NYSE:DVN traded up $0.33 during trading hours on Tuesday, hitting $34.54. The company's stock had a trading volume of 2,582,867 shares, compared to its average volume of 7,830,995. Devon Energy Co. has a 52-week low of $30.39 and a 52-week high of $55.09. 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 business's 50-day moving average is $35.29 and its two-hundred day moving average is $37.57. The company has a market capitalization of $22.42 billion, a PE ratio of 7.56, a PEG ratio of 1.20 and a beta of 1.91.

Devon Energy (NYSE:DVN - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.00 by $0.16. The firm had revenue of $4.40 billion during the quarter, compared to analysts' expectations of $4.25 billion. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. As a group, research analysts anticipate that Devon Energy Co. will post 4.85 EPS for the current fiscal year.

Devon Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.24 per share. This is a positive change from Devon Energy's previous quarterly dividend of $0.22. The ex-dividend date is Friday, March 14th. This represents a $0.96 annualized dividend and a dividend yield of 2.78%. Devon Energy's payout ratio 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.