Devon Energy Co. (NYSE:DVN) Shares Acquired by Czech National Bank

Czech National Bank raised its stake in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 11.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 142,429 shares of the energy company's stock after buying an additional 14,866 shares during the period. Czech National Bank's holdings in Devon Energy were worth $4,662,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC increased its holdings in Devon Energy by 1.3% during the third quarter. Geode Capital Management LLC now owns 15,892,970 shares of the energy company's stock valued at $619,747,000 after buying an additional 206,884 shares during the last quarter. EnCap Energy Capital Fund XI L.P. purchased a new position in shares of Devon Energy during the 3rd quarter valued at $461,857,000. Pacer Advisors Inc. lifted its stake in shares of Devon Energy by 16.9% during the 3rd quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company's stock valued at $453,446,000 after buying an additional 1,677,652 shares in the last quarter. EnCap Partners GP LLC purchased a new position in shares of Devon Energy during the 3rd quarter valued at $408,653,000. Finally, Victory Capital Management Inc. lifted its stake in shares of Devon Energy by 3.8% during the 3rd quarter. Victory Capital Management Inc. now owns 9,971,343 shares of the energy company's stock valued at $390,079,000 after buying an additional 361,968 shares in the last quarter. 69.72% of the stock is owned by institutional investors.

Devon Energy Stock Down 0.0 %

Shares of Devon Energy stock traded down $0.01 on Thursday, reaching $38.42. The stock had a trading volume of 8,465,958 shares, compared to its average volume of 11,322,614. The company has a 50 day moving average price of $35.50 and a 200 day moving average price of $40.40. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61. Devon Energy Co. has a 1 year low of $30.39 and a 1 year high of $55.09. The stock has a market capitalization of $25.24 billion, a P/E ratio of 7.13, a P/E/G ratio of 1.14 and a beta of 2.00.

Devon Energy (NYSE:DVN - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.09 by $0.01. The firm had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.72 billion. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The company's quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.65 EPS. As a group, equities research analysts forecast that Devon Energy Co. will post 4.72 EPS for the current year.

Devon Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend was Friday, December 13th. Devon Energy's payout ratio is 16.33%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on DVN. Benchmark upgraded shares of Devon Energy from a "hold" rating to a "buy" rating and set a $44.00 price target on the stock in a report on Tuesday. BMO Capital Markets reduced their price target on shares of Devon Energy from $52.00 to $48.00 and set an "outperform" rating on the stock in a report on Friday, October 4th. Raymond James reduced their price target on shares of Devon Energy from $58.00 to $51.00 in a report on Tuesday, November 5th. Barclays reduced their target price on shares of Devon Energy from $55.00 to $46.00 and set an "equal weight" rating on the stock in a report on Thursday, October 3rd. Finally, Truist Financial reduced their target price on shares of Devon Energy from $43.00 to $42.00 and set a "hold" rating on the stock in a report on Monday. Nine investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $49.27.

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.