Crux Wealth Advisors Makes New Investment in Devon Energy Co. (NYSE:DVN)

Crux Wealth Advisors acquired a new position in shares of Devon Energy Co. (NYSE:DVN - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 17,847 shares of the energy company's stock, valued at approximately $584,000.

Several other hedge funds have also recently made changes to their positions in DVN. Hurley Capital LLC purchased a new position in Devon Energy during the 4th quarter worth approximately $26,000. Cromwell Holdings LLC boosted 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 worth $40,000 after buying an additional 598 shares during the last quarter. Sierra Ocean LLC acquired a new position in shares of Devon Energy during the fourth quarter valued at approximately $43,000. Endeavor Private Wealth Inc. acquired a new position in shares of Devon Energy during the fourth quarter valued at approximately $52,000. Finally, Thompson Investment Management Inc. boosted its stake in shares of Devon Energy by 60.0% in the fourth quarter. Thompson Investment Management Inc. now owns 1,600 shares of the energy company's stock worth $52,000 after acquiring an additional 600 shares during the last quarter. 69.72% of the stock is owned by institutional investors and hedge funds.

Devon Energy Trading Up 3.0 %

Devon Energy stock traded up $0.86 during trading on Wednesday, hitting $29.39. The company's stock had a trading volume of 4,255,049 shares, compared to its average volume of 8,398,000. Devon Energy Co. has a 1-year low of $25.89 and a 1-year high of $53.20. The stock's fifty day moving average is $34.17 and its 200 day moving average is $36.00. 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 stock has a market capitalization of $19.07 billion, a price-to-earnings ratio of 6.45, a P/E/G ratio of 1.20 and a beta of 1.50.

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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 (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 company had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.25 billion. As a group, equities research analysts predict that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a dividend of $0.24 per share. The ex-dividend date was Friday, March 14th. This is an increase from Devon Energy's previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 3.27%. Devon Energy's dividend payout ratio (DPR) is currently 21.05%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. 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. Scotiabank cut their target price on Devon Energy from $45.00 to $35.00 and set a "sector outperform" rating for the company in a research note on Friday, April 11th. Raymond James reduced their target price on shares of Devon Energy from $54.00 to $46.00 and set an "outperform" rating on the stock in a research note on Monday, March 10th. Piper Sandler lifted their price target on shares of Devon Energy from $54.00 to $55.00 and gave the company an "overweight" rating in a research report on Monday, February 24th. Finally, Morgan Stanley set a $47.00 price objective on shares of Devon Energy and gave the company an "overweight" rating in a report on Wednesday, March 26th. Ten equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average 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.