Fox Run Management L.L.C. Purchases Shares of 77,133 Devon Energy Co. (NYSE:DVN)

Fox Run Management L.L.C. bought a new position in shares of Devon Energy Co. (NYSE:DVN - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 77,133 shares of the energy company's stock, valued at approximately $2,525,000. Devon Energy makes up 0.5% of Fox Run Management L.L.C.'s portfolio, making the stock its 5th largest position.

A number of other large investors also recently modified their holdings of DVN. Sfmg LLC grew its position in shares of Devon Energy by 0.5% in the 3rd quarter. Sfmg LLC now owns 64,871 shares of the energy company's stock worth $2,538,000 after buying an additional 294 shares during the period. Redwood Wealth Management Group LLC grew its holdings in Devon Energy by 3.9% in the fourth quarter. Redwood Wealth Management Group LLC now owns 8,141 shares of the energy company's stock worth $266,000 after purchasing an additional 309 shares during the period. Cornerstone Wealth Management LLC increased its stake in shares of Devon Energy by 1.6% during the fourth quarter. Cornerstone Wealth Management LLC now owns 21,242 shares of the energy company's stock valued at $695,000 after purchasing an additional 326 shares in the last quarter. Annex Advisory Services LLC grew its stake in shares of Devon Energy by 1.2% in the 4th quarter. Annex Advisory Services LLC now owns 27,021 shares of the energy company's stock worth $884,000 after buying an additional 327 shares during the last quarter. Finally, Fiduciary Trust Co increased its position in Devon Energy by 3.1% during the 3rd quarter. Fiduciary Trust Co now owns 11,074 shares of the energy company's stock valued at $433,000 after buying an additional 329 shares in the last quarter. 69.72% of the stock is currently owned by institutional investors.

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Devon Energy Stock Performance

Shares of NYSE DVN traded down $0.01 during trading on Tuesday, hitting $36.95. The company had a trading volume of 2,476,713 shares, compared to its average volume of 7,845,709. Devon Energy Co. has a 12 month low of $30.39 and a 12 month high of $55.09. The firm has a market capitalization of $23.98 billion, a P/E ratio of 8.10, a price-to-earnings-growth ratio of 1.20 and a beta of 1.91. The stock has a 50 day simple moving average of $35.46 and a 200 day simple moving average of $36.95. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.04.

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

Devon Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $0.24 per share. The ex-dividend date is Friday, March 14th. This represents a $0.96 annualized dividend and a dividend yield of 2.60%. This is a boost from Devon Energy's previous quarterly dividend of $0.22. Devon Energy's dividend payout ratio (DPR) is presently 21.05%.

Analysts Set New Price Targets

Several equities research analysts have commented on DVN shares. Piper Sandler boosted their target price on Devon Energy from $54.00 to $55.00 and gave the stock an "overweight" rating in a report on Monday, February 24th. Benchmark restated a "buy" rating and set a $44.00 price objective on shares of Devon Energy in a research note on Thursday, February 20th. Wells Fargo & Company dropped 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. Susquehanna raised their price target 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. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $50.00 price objective on shares of Devon Energy in a research report on Friday, January 10th. Ten analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $48.46.

About Devon Energy

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.