Devon Energy Co. (NYSE:DVN) Shares Sold by Huber Capital Management LLC

Huber Capital Management LLC reduced its stake in Devon Energy Co. (NYSE:DVN - Free Report) by 33.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,200 shares of the energy company's stock after selling 10,200 shares during the period. Huber Capital Management LLC's holdings in Devon Energy were worth $661,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of DVN. Cromwell Holdings LLC raised 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 valued at $40,000 after buying an additional 598 shares during the last quarter. Sierra Ocean LLC acquired a new stake in shares of Devon Energy in the 4th quarter valued at about $43,000. Endeavor Private Wealth Inc. bought a new position in shares of Devon Energy in the fourth quarter valued at $52,000. Thompson Investment Management Inc. boosted its stake in Devon Energy by 60.0% during the 4th quarter. Thompson Investment Management Inc. now owns 1,600 shares of the energy company's stock valued at $52,000 after purchasing an additional 600 shares during the last quarter. Finally, Asset Planning Inc bought a new stake in Devon Energy during the fourth quarter worth $54,000. 69.72% of the stock is owned by institutional investors.

Devon Energy Stock Down 11.7 %

Devon Energy stock traded down $3.87 during mid-day trading on Friday, reaching $29.30. 23,066,739 shares of the company were exchanged, compared to its average volume of 8,198,942. Devon Energy Co. has a 12-month low of $29.06 and a 12-month high of $55.09. The business has a fifty day moving average of $35.22 and a 200 day moving average of $36.70. The firm has a market cap of $19.01 billion, a P/E ratio of 6.42, a PEG ratio of 1.20 and a beta of 1.50. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.04.

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Devon Energy (NYSE:DVN - Get Free Report) last posted its earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.16. The company had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.25 billion. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. Research analysts anticipate that Devon Energy Co. will post 4.85 earnings per share for the current fiscal year.

Devon Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a dividend of $0.24 per share. This is a boost from Devon Energy's previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.96 dividend on an annualized basis and a yield of 3.28%. Devon Energy's dividend payout ratio is presently 21.05%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Piper Sandler raised their price objective on shares of Devon Energy from $54.00 to $55.00 and gave the stock an "overweight" rating in a report on Monday, February 24th. Wolfe Research upgraded 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 research report on Friday, January 3rd. Susquehanna increased their target price on Devon Energy from $50.00 to $52.00 and gave the company a "positive" rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. decreased their target price on shares of Devon Energy from $48.00 to $42.00 and set a "neutral" rating on the stock in a research report on Thursday, March 13th. Finally, Wells Fargo & Company decreased their target price on shares of 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 issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $48.17.

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.