First Dallas Securities Inc. Has $1.73 Million Stock Position in Devon Energy Co. (NYSE:DVN)

First Dallas Securities Inc. grew its stake in Devon Energy Co. (NYSE:DVN - Free Report) by 31.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 52,715 shares of the energy company's stock after purchasing an additional 12,760 shares during the quarter. First Dallas Securities Inc.'s holdings in Devon Energy were worth $1,725,000 at the end of the most recent reporting period.

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

Devon Energy Price Performance

Shares of NYSE:DVN traded down $0.29 during trading on Wednesday, hitting $34.14. 7,591,442 shares of the company were exchanged, compared to its average volume of 9,578,988. 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 company has a market capitalization of $22.42 billion, a P/E ratio of 6.33, a price-to-earnings-growth ratio of 1.07 and a beta of 1.98. The business's 50 day moving average is $34.66 and its 200-day moving average is $39.18.

Devon Energy (NYSE:DVN - Get Free Report) last posted its earnings results on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, beating the consensus estimate of $1.09 by $0.01. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The firm had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same period last year, the company earned $1.65 earnings per share. The business's quarterly revenue was up 4.9% on a year-over-year basis. Equities analysts forecast that Devon Energy Co. will post 4.68 earnings per share for the current year.

Analyst Ratings Changes

DVN has been the topic of a number of research analyst reports. Piper Sandler raised their price target on Devon Energy from $53.00 to $54.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. TD Cowen dropped their target price on shares of Devon Energy from $54.00 to $46.00 and set a "hold" rating on the stock in a report on Tuesday, November 5th. Wolfe Research raised shares of Devon Energy from a "peer perform" rating to an "outperform" rating and set a $45.00 price target on the stock in a research note on Friday, January 3rd. Scotiabank lowered their price objective on shares of Devon Energy from $60.00 to $48.00 and set a "sector outperform" rating for the company in a research report on Thursday, October 10th. Finally, Raymond James boosted their price objective on shares of Devon Energy from $53.00 to $54.00 and gave the company an "outperform" rating in a research report on Thursday, January 23rd. Nine analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $49.45.

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.