GoodHaven Capital Management LLC raised its holdings in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 15.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 452,357 shares of the energy company's stock after buying an additional 59,700 shares during the period. Devon Energy comprises 4.8% of GoodHaven Capital Management LLC's investment portfolio, making the stock its 7th largest position. GoodHaven Capital Management LLC owned 0.07% of Devon Energy worth $14,806,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. True Wealth Design LLC lifted its holdings in shares of Devon Energy by 3,889.3% during the 3rd quarter. True Wealth Design LLC now owns 1,117 shares of the energy company's stock valued at $44,000 after acquiring an additional 1,089 shares in the last quarter. Cromwell Holdings LLC boosted its position in shares of Devon Energy by 98.0% in the fourth 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 period. Activest Wealth Management boosted its position in shares of Devon Energy by 60.4% in the third quarter. Activest Wealth Management now owns 1,275 shares of the energy company's stock worth $50,000 after buying an additional 480 shares during the period. Sierra Ocean LLC purchased a new stake in shares of Devon Energy during the 4th quarter valued at about $43,000. Finally, Endeavor Private Wealth Inc. acquired a new position in Devon Energy during the 4th quarter worth approximately $52,000. 69.72% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
DVN has been the subject of several recent research reports. Benchmark reaffirmed a "buy" rating and issued a $44.00 price objective on shares of Devon Energy in a research report on Thursday, February 20th. Wolfe Research raised shares of Devon Energy from a "peer perform" rating to an "outperform" rating and set a $45.00 price target for the company in a report on Friday, January 3rd. JPMorgan Chase & Co. cut their price objective on shares of Devon Energy from $48.00 to $42.00 and set a "neutral" rating on the stock in a report on Thursday, March 13th. Citigroup lowered their target price on Devon Energy from $48.00 to $46.00 and set a "buy" rating for the company in a research note on Monday, March 17th. Finally, Wells Fargo & Company cut their price target on Devon Energy from $49.00 to $43.00 and set an "overweight" rating on the stock in a research note on Tuesday, December 17th. Ten 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, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $48.46.
Check Out Our Latest Stock Report on DVN
Devon Energy Stock Performance
Shares of NYSE:DVN traded up $0.82 during trading on Monday, hitting $36.97. 5,721,024 shares of the company traded hands, compared to its average volume of 7,846,368. 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 business's fifty day moving average is $35.46 and its 200-day moving average is $36.98. The stock has a market capitalization of $24.00 billion, a price-to-earnings ratio of 8.11, a PEG ratio of 1.20 and a beta of 1.91. Devon Energy Co. has a one year low of $30.39 and a one year high of $55.09.
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 analysts' consensus estimates of $1.00 by $0.16. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The business had revenue of $4.40 billion for the quarter, compared to analysts' expectations of $4.25 billion. As a group, equities analysts predict 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 will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.24 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.96 annualized dividend and a yield of 2.60%. This is an increase from Devon Energy's previous quarterly dividend of $0.22. Devon Energy's dividend payout ratio is presently 21.05%.
Devon Energy Profile
(
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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