Devon Energy Co. (NYSE:DVN) Shares Bought by Two Sigma Securities LLC

Two Sigma Securities LLC grew its position in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 1,989.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,582 shares of the energy company's stock after acquiring an additional 21,501 shares during the period. Two Sigma Securities LLC's holdings in Devon Energy were worth $739,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Morse Asset Management Inc purchased a new stake in Devon Energy in the third quarter worth about $126,000. Virtu Financial LLC purchased a new stake in Devon Energy in the third quarter worth about $7,468,000. Pine Valley Investments Ltd Liability Co purchased a new stake in Devon Energy in the third quarter worth about $209,000. World Investment Advisors LLC increased its stake in shares of Devon Energy by 3,440.3% during the third quarter. World Investment Advisors LLC now owns 149,437 shares of the energy company's stock valued at $5,846,000 after purchasing an additional 145,216 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Devon Energy during the third quarter valued at approximately $1,576,000. 69.72% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on DVN. Raymond James set a $40.00 target price on shares of Devon Energy in a research note on Monday, April 21st. Truist Financial raised their price target on shares of Devon Energy from $42.00 to $44.00 and gave the company a "hold" rating in a research report on Thursday, February 20th. Cowen downgraded shares of Devon Energy to a "hold" rating and reduced their price target for the company from $46.00 to $45.00 in a research report on Tuesday, February 18th. JPMorgan Chase & Co. reduced their price target on shares of Devon Energy from $48.00 to $42.00 and set a "neutral" rating for the company in a research report on Thursday, March 13th. Finally, Scotiabank cut their target price on shares of Devon Energy from $45.00 to $35.00 and set a "sector outperform" rating for the company in a research report on Friday, April 11th. Ten analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $44.83.

Devon Energy Price Performance

DVN traded up $0.20 during midday trading on Monday, hitting $31.55. 5,043,976 shares of the company traded hands, compared to its average volume of 8,510,683. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $20.48 billion, a price-to-earnings ratio of 6.92, a PEG ratio of 1.20 and a beta of 1.50. Devon Energy Co. has a 52-week low of $25.89 and a 52-week high of $53.20. The business has a 50 day simple moving average of $33.44 and a two-hundred day simple moving average of $35.28.

Devon Energy (NYSE:DVN - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.25 billion. On average, equities analysts forecast that Devon Energy Co. will post 4.85 earnings per share for the current fiscal year.

Devon Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a $0.24 dividend. This is a positive change from Devon Energy's previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend was Friday, March 14th. Devon Energy's dividend payout ratio is currently 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.