Lindenwold Advisors INC Has $462,000 Stock Position in Devon Energy Co. (NYSE:DVN)

Lindenwold Advisors INC lowered its position in Devon Energy Co. (NYSE:DVN - Free Report) by 47.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,106 shares of the energy company's stock after selling 12,624 shares during the period. Lindenwold Advisors INC's holdings in Devon Energy were worth $462,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Cromwell Holdings LLC grew its holdings in Devon Energy by 98.0% during the fourth quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company's stock valued at $40,000 after purchasing an additional 598 shares during the last quarter. Sierra Ocean LLC acquired a new position in Devon Energy during the fourth quarter valued at approximately $43,000. True Wealth Design LLC grew its holdings in Devon Energy by 3,889.3% during the third quarter. True Wealth Design LLC now owns 1,117 shares of the energy company's stock valued at $44,000 after purchasing an additional 1,089 shares during the last quarter. Activest Wealth Management grew its holdings in Devon Energy by 60.4% during the third quarter. Activest Wealth Management now owns 1,275 shares of the energy company's stock valued at $50,000 after purchasing an additional 480 shares during the last quarter. Finally, Endeavor Private Wealth Inc. acquired a new position in Devon Energy during the fourth quarter valued at approximately $52,000. Institutional investors and hedge funds own 69.72% of the company's stock.

Devon Energy Price Performance

Shares of Devon Energy stock traded up $0.05 during trading on Friday, reaching $36.18. The company's stock had a trading volume of 12,727,559 shares, compared to its average volume of 7,854,904. The stock has a 50-day moving average price of $35.46 and a two-hundred day moving average price of $36.98. 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 one year low of $30.39 and a one year high of $55.09. The stock has a market capitalization of $23.48 billion, a P/E ratio of 7.93, a price-to-earnings-growth ratio of 1.20 and a beta of 1.91.

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

Devon Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.65%. This is a positive change from Devon Energy's previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, March 14th. Devon Energy's dividend payout ratio (DPR) is presently 21.05%.

Analyst Upgrades and Downgrades

Several brokerages have commented on DVN. StockNews.com upgraded Devon Energy from a "sell" rating to a "hold" rating in a report on Friday, January 3rd. Sanford C. Bernstein upgraded 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. Barclays raised their price objective on shares of Devon Energy from $43.00 to $44.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 20th. Truist Financial raised their price objective on shares of Devon Energy from $42.00 to $44.00 and gave the stock a "hold" rating in a research note on Thursday, February 20th. Finally, Wells Fargo & Company lowered their price objective 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. Ten investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $48.46.

Devon Energy Company 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.