Larson Financial Group LLC raised its stake in Devon Energy Co. (NYSE:DVN - Free Report) by 28.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 61,695 shares of the energy company's stock after purchasing an additional 13,816 shares during the quarter. Larson Financial Group LLC's holdings in Devon Energy were worth $2,019,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. AMF Tjanstepension AB acquired a new position in Devon Energy during the fourth quarter worth $8,348,000. Generali Investments CEE investicni spolecnost a.s. bought a new position in shares of Devon Energy in the 4th quarter valued at about $455,000. PNC Financial Services Group Inc. increased its stake in shares of Devon Energy by 2.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 178,699 shares of the energy company's stock worth $5,849,000 after purchasing an additional 4,204 shares during the last quarter. Banco Santander S.A. raised its holdings in shares of Devon Energy by 68.9% in the 4th quarter. Banco Santander S.A. now owns 240,499 shares of the energy company's stock valued at $7,872,000 after purchasing an additional 98,135 shares during the period. Finally, Mesirow Financial Investment Management Inc. lifted its stake in Devon Energy by 34.5% in the 4th quarter. Mesirow Financial Investment Management Inc. now owns 17,620 shares of the energy company's stock valued at $577,000 after purchasing an additional 4,523 shares during the last quarter. Institutional investors and hedge funds own 69.72% of the company's stock.
Devon Energy Price Performance
Shares of NYSE:DVN traded up $0.87 during midday trading on Friday, hitting $34.74. The stock had a trading volume of 10,538,173 shares, compared to its average volume of 7,841,178. The company's 50-day moving average price is $35.24 and its 200-day moving average price is $37.63. Devon Energy Co. has a fifty-two week low of $30.39 and a fifty-two week high of $55.09. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $22.54 billion, a P/E ratio of 7.62, a price-to-earnings-growth 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 business had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.25 billion. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. As a group, equities research analysts predict that Devon Energy Co. will post 4.85 EPS for the current fiscal year.
Devon Energy Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $0.24 per share. 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 2.76%. The ex-dividend date is Friday, March 14th. Devon Energy's dividend payout ratio is currently 21.05%.
Analyst Ratings Changes
A number of equities analysts have weighed in on the company. Wells Fargo & Company lowered their price target on Devon Energy from $49.00 to $43.00 and set an "overweight" rating on the stock in a research report on Tuesday, December 17th. Raymond James boosted their target price on Devon Energy from $53.00 to $54.00 and gave the stock an "outperform" rating in a report on Thursday, January 23rd. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $50.00 price target on shares of Devon Energy in a report on Friday, January 10th. Benchmark reiterated a "buy" rating and issued a $44.00 price objective on shares of Devon Energy in a report on Thursday, February 20th. Finally, Susquehanna increased their price objective on shares of Devon Energy from $50.00 to $52.00 and gave the company a "positive" rating in a research report on Thursday, February 20th. Ten investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Devon Energy currently has a consensus rating of "Moderate Buy" and an average target price of $48.87.
Check Out Our Latest Research Report on DVN
About Devon Energy
(
Free Report)
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.
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