10,986 Shares in Devon Energy Co. (NYSE:DVN) Purchased by Magnetar Financial LLC

Magnetar Financial LLC bought a new position in shares of Devon Energy Co. (NYSE:DVN - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 10,986 shares of the energy company's stock, valued at approximately $360,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sfmg LLC lifted its holdings 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 valued at $2,538,000 after buying an additional 294 shares during the period. Redwood Wealth Management Group LLC lifted 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 valued at $266,000 after acquiring an additional 309 shares during the period. Cornerstone Wealth Management LLC boosted its position in Devon Energy by 1.6% in the 4th quarter. Cornerstone Wealth Management LLC now owns 21,242 shares of the energy company's stock worth $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% during the 4th quarter. Annex Advisory Services LLC now owns 27,021 shares of the energy company's stock worth $884,000 after purchasing an additional 327 shares during the period. Finally, Fiduciary Trust Co increased its holdings in shares of 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 purchasing an additional 329 shares in the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

DVN has been the topic of several analyst reports. Wells Fargo & Company dropped their price target on shares of Devon Energy from $49.00 to $43.00 and set an "overweight" rating on the stock in a research report on Tuesday, December 17th. Barclays raised their target price on Devon Energy from $43.00 to $44.00 and gave the company an "equal weight" rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. reduced their price target on Devon Energy from $48.00 to $42.00 and set a "neutral" rating for the company in a report on Thursday, March 13th. Wolfe Research raised Devon Energy from a "peer perform" rating to an "outperform" rating and set a $45.00 price objective on the stock in a report on Friday, January 3rd. Finally, Truist Financial upped their target price on Devon Energy from $42.00 to $44.00 and gave the stock a "hold" rating in a research note on Thursday, February 20th. Ten research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat, Devon Energy has a consensus rating of "Moderate Buy" and a consensus price target of $48.46.

Devon Energy Trading Down 0.1 %

NYSE:DVN traded down $0.03 during trading hours on Tuesday, hitting $36.94. The company had a trading volume of 3,219,137 shares, compared to its average volume of 7,845,709. Devon Energy Co. has a 1 year low of $30.39 and a 1 year high of $55.09. The company has a market cap of $23.97 billion, a P/E ratio of 8.10, a P/E/G ratio of 1.20 and a beta of 1.91. The company has a 50-day moving average of $35.46 and a 200 day moving average of $36.95. 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 (NYSE:DVN - Get Free Report) last announced its quarterly earnings data 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. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The firm had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.25 billion. Sell-side analysts expect that Devon Energy Co. will post 4.85 earnings per share for the current year.

Devon Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders 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 dividend yield of 2.60%. This is an increase from Devon Energy's previous quarterly dividend of $0.22. Devon Energy's dividend payout ratio (DPR) 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.