KBC Group NV boosted its position in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 1,015.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 812,027 shares of the energy company's stock after buying an additional 739,247 shares during the period. KBC Group NV owned approximately 0.12% of Devon Energy worth $26,577,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Bridgewater Associates LP acquired a new stake in shares of Devon Energy during the 3rd quarter worth approximately $9,426,000. Legacy Investment Solutions LLC bought a new stake in Devon Energy during the third quarter worth $8,002,000. Petrus Trust Company LTA boosted its holdings in shares of Devon Energy by 394.7% in the 3rd quarter. Petrus Trust Company LTA now owns 21,827 shares of the energy company's stock valued at $854,000 after purchasing an additional 17,415 shares in the last quarter. CIBC Asset Management Inc increased its stake in shares of Devon Energy by 6.3% in the 3rd quarter. CIBC Asset Management Inc now owns 107,182 shares of the energy company's stock valued at $4,193,000 after purchasing an additional 6,358 shares during the last quarter. Finally, Smead Capital Management Inc. raised its holdings in shares of Devon Energy by 3.5% during the 3rd quarter. Smead Capital Management Inc. now owns 5,879,516 shares of the energy company's stock worth $230,007,000 after buying an additional 198,193 shares in the last quarter. 69.72% of the stock is owned by institutional investors.
Devon Energy Stock Down 2.7 %
NYSE:DVN traded down $0.96 during trading hours on Friday, reaching $34.09. The company had a trading volume of 8,386,566 shares, compared to its average volume of 9,797,617. Devon Energy Co. has a twelve month low of $30.39 and a twelve month high of $55.09. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61. The firm has a market cap of $22.39 billion, a price-to-earnings ratio of 6.32, a P/E/G ratio of 1.10 and a beta of 2.00. The business's 50-day simple moving average is $35.00 and its two-hundred day simple moving average is $39.64.
Devon Energy (NYSE:DVN - Get Free Report) last issued its earnings results on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, beating analysts' consensus estimates of $1.09 by $0.01. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The business had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same period in the previous year, the company posted $1.65 EPS. The firm's revenue was up 4.9% compared to the same quarter last year. On average, equities analysts expect that Devon Energy Co. will post 4.68 earnings per share for the current year.
Devon Energy Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend was Friday, December 13th. Devon Energy's payout ratio is 16.33%.
Analysts Set New Price Targets
DVN has been the topic of several research analyst reports. Piper Sandler raised their price objective on Devon Energy from $53.00 to $54.00 and gave the company an "overweight" rating in a research note on Wednesday. Sanford C. Bernstein raised shares of Devon Energy from a "market perform" rating to an "outperform" rating and set a $45.00 price target on the stock in a report on Wednesday, January 15th. Royal Bank of Canada reiterated a "sector perform" rating and set a $50.00 price objective on shares of Devon Energy in a research report on Friday, January 10th. StockNews.com upgraded Devon Energy from a "sell" rating to a "hold" rating in a research report on Friday, January 3rd. Finally, Raymond James upped their price objective on Devon Energy from $53.00 to $54.00 and gave the company an "outperform" rating in a research note on Thursday, January 23rd. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $49.45.
View Our Latest Analysis on Devon Energy
About Devon Energy
(
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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