Devon Energy Co. (NYSE:DVN) Stock Holdings Increased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its holdings in Devon Energy Co. (NYSE:DVN - Free Report) by 12.1% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 4,352,204 shares of the energy company's stock after buying an additional 470,484 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.66% of Devon Energy worth $142,448,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Capital Performance Advisors LLP purchased a new position in shares of Devon Energy in the 3rd quarter valued at $35,000. Cromwell Holdings LLC increased its holdings in Devon Energy by 98.0% in the 4th quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company's stock valued at $40,000 after purchasing an additional 598 shares in the last quarter. Sierra Ocean LLC purchased a new position in Devon Energy in the fourth quarter valued at about $43,000. True Wealth Design LLC lifted its stake in shares of 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 purchasing an additional 1,089 shares in the last quarter. Finally, Activest Wealth Management lifted its stake in shares of Devon Energy by 60.4% during the third quarter. Activest Wealth Management now owns 1,275 shares of the energy company's stock worth $50,000 after purchasing an additional 480 shares in the last quarter. 69.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on DVN. Wells Fargo & Company dropped their target price on Devon Energy from $49.00 to $43.00 and set an "overweight" rating on the stock in a report on Tuesday, December 17th. StockNews.com upgraded shares of Devon Energy from a "sell" rating to a "hold" rating in a research note on Friday, January 3rd. Royal Bank of Canada reissued a "sector perform" rating and set a $50.00 target price on shares of Devon Energy in a research report on Friday, January 10th. Cowen lowered shares of Devon Energy to a "hold" rating and lowered their price target for the company from $46.00 to $45.00 in a report on Tuesday, February 18th. Finally, Truist Financial boosted their price objective on shares of Devon Energy from $42.00 to $44.00 and gave the stock a "hold" rating in a report on Thursday, February 20th. Ten 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 company currently has a consensus rating of "Moderate Buy" and a consensus price target of $48.87.

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Devon Energy Stock Performance

Shares of NYSE:DVN traded up $0.87 on Friday, reaching $34.74. 10,538,173 shares of the company's stock were exchanged, compared to its average volume of 7,841,178. The business's 50-day moving average is $35.17 and its two-hundred day moving average is $37.79. 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 Co. has a fifty-two week low of $30.39 and a fifty-two week high of $55.09. The firm has a market capitalization of $22.54 billion, a price-to-earnings ratio of 7.62, a PEG ratio of 1.20 and a beta of 1.91.

Devon Energy (NYSE:DVN - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.16 earnings per share 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 for the quarter, compared to analyst estimates of $4.25 billion. As a group, equities research 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 will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.24 dividend. This is an increase 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 2.76%. 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.