Johnson Financial Group Inc. Trims Position in Devon Energy Co. (NYSE:DVN)

Johnson Financial Group Inc. decreased its holdings in Devon Energy Co. (NYSE:DVN - Free Report) by 36.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,251 shares of the energy company's stock after selling 9,923 shares during the quarter. Johnson Financial Group Inc.'s holdings in Devon Energy were worth $588,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Klein Pavlis & Peasley Financial Inc. bought a new stake in shares of Devon Energy during the 4th quarter valued at about $782,000. World Investment Advisors LLC boosted its position in Devon Energy by 3,440.3% during the 3rd quarter. World Investment Advisors LLC now owns 149,437 shares of the energy company's stock valued at $5,846,000 after acquiring an additional 145,216 shares in the last quarter. Resona Asset Management Co. Ltd. purchased a new position in shares of Devon Energy during the 4th quarter worth approximately $5,967,000. New York State Teachers Retirement System raised its position in shares of Devon Energy by 4.5% in the 4th quarter. New York State Teachers Retirement System now owns 736,351 shares of the energy company's stock worth $24,101,000 after acquiring an additional 31,520 shares in the last quarter. Finally, First Dallas Securities Inc. boosted its position in shares of Devon Energy by 31.9% during the fourth quarter. First Dallas Securities Inc. now owns 52,715 shares of the energy company's stock valued at $1,725,000 after purchasing an additional 12,760 shares in the last quarter. Institutional investors own 69.72% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on DVN. Barclays lowered their price objective on Devon Energy from $44.00 to $38.00 and set an "equal weight" rating for the company in a research report on Wednesday. Cowen lowered shares of Devon Energy to a "hold" rating and dropped their price objective for the stock from $46.00 to $45.00 in a research note on Tuesday, February 18th. Truist Financial raised their target price on shares of Devon Energy from $42.00 to $44.00 and gave the company a "hold" rating in a research note on Thursday, February 20th. Raymond James set a $40.00 price target on Devon Energy in a research report on Monday, April 21st. Finally, JPMorgan Chase & Co. reduced their price objective on Devon Energy from $48.00 to $42.00 and set a "neutral" rating for the company in a research report on Thursday, March 13th. Ten equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $44.83.

Devon Energy Price Performance

NYSE DVN opened at $31.37 on Friday. 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 firm has a market capitalization of $20.36 billion, a P/E ratio of 6.88, a PEG ratio of 1.20 and a beta of 1.50. The company has a 50-day moving average price of $33.56 and a 200-day moving average price of $35.41. Devon Energy Co. has a 52 week low of $25.89 and a 52 week high of $53.20.

Devon Energy (NYSE:DVN - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.16. The business had revenue of $4.40 billion for the quarter, compared to analysts' expectations of $4.25 billion. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. Equities research 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 declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a $0.24 dividend. 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 3.06%. Devon Energy's dividend payout ratio is presently 21.05%.

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.

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