Devon Energy Co. (NYSE:DVN) Shares Sold by Keene & Associates Inc.

Keene & Associates Inc. lessened its holdings in Devon Energy Co. (NYSE:DVN - Free Report) by 35.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,330 shares of the energy company's stock after selling 25,934 shares during the quarter. Keene & Associates Inc.'s holdings in Devon Energy were worth $1,549,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of DVN. Exchange Traded Concepts LLC purchased a new position in Devon Energy in the third quarter valued at $200,000. Creative Planning increased its holdings in Devon Energy by 33.6% in the third quarter. Creative Planning now owns 132,206 shares of the energy company's stock valued at $5,172,000 after buying an additional 33,249 shares during the last quarter. Blue Trust Inc. boosted its stake in Devon Energy by 41.4% in the third quarter. Blue Trust Inc. now owns 14,486 shares of the energy company's stock valued at $567,000 after acquiring an additional 4,241 shares in the last quarter. Capital Investment Advisors LLC boosted its stake in Devon Energy by 5.5% in the third quarter. Capital Investment Advisors LLC now owns 7,756 shares of the energy company's stock valued at $303,000 after acquiring an additional 406 shares in the last quarter. Finally, OLD National Bancorp IN boosted its stake in Devon Energy by 5.6% in the third quarter. OLD National Bancorp IN now owns 9,288 shares of the energy company's stock valued at $363,000 after acquiring an additional 491 shares in the last quarter. Hedge funds and other institutional investors own 69.72% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on DVN. Wells Fargo & Company decreased their price objective on shares of Devon Energy from $49.00 to $43.00 and set an "overweight" rating for the company in a research note on Tuesday, December 17th. Piper Sandler upped their price objective on shares of Devon Energy from $53.00 to $54.00 and gave the company an "overweight" rating in a research note on Wednesday, January 29th. TD Cowen decreased their price objective on shares of Devon Energy from $54.00 to $46.00 and set a "hold" rating for the company in a research note on Tuesday, November 5th. Susquehanna upped their price objective on shares of Devon Energy from $50.00 to $52.00 and gave the company a "positive" rating in a research note on Thursday. Finally, StockNews.com upgraded shares of Devon Energy from a "sell" rating to a "hold" rating in a research note on Friday, January 3rd. Ten analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $48.83.

Devon Energy Stock Performance

Shares of NYSE:DVN traded down $1.07 during midday trading on Friday, hitting $37.49. The stock had a trading volume of 11,529,242 shares, compared to its average volume of 9,796,612. The company has a market capitalization of $24.62 billion, a PE ratio of 8.22, a P/E/G ratio of 1.17 and a beta of 1.98. The stock has a 50 day moving average price of $34.47 and a two-hundred day moving average price of $38.37. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57. Devon Energy Co. has a 1 year low of $30.39 and a 1 year high of $55.09.

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

Devon Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $0.24 per share. The ex-dividend date is Friday, March 14th. This represents a $0.96 dividend on an annualized basis and a yield of 2.56%. This is an increase from Devon Energy's previous quarterly dividend of $0.22. Devon Energy's payout ratio is currently 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.