National Bank of Canada FI Sells 479,165 Shares of Devon Energy Co. (NYSE:DVN)

National Bank of Canada FI trimmed its position in Devon Energy Co. (NYSE:DVN - Free Report) by 31.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,062,035 shares of the energy company's stock after selling 479,165 shares during the period. National Bank of Canada FI owned 0.16% of Devon Energy worth $34,761,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in DVN. Vanguard Group Inc. lifted its holdings in shares of Devon Energy by 7.3% during the fourth quarter. Vanguard Group Inc. now owns 80,682,170 shares of the energy company's stock valued at $2,640,727,000 after purchasing an additional 5,465,692 shares during the last quarter. Geode Capital Management LLC increased its position in Devon Energy by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 15,892,970 shares of the energy company's stock valued at $619,747,000 after buying an additional 206,884 shares in the last quarter. Victory Capital Management Inc. raised its stake in Devon Energy by 2.3% during the fourth quarter. Victory Capital Management Inc. now owns 10,203,812 shares of the energy company's stock valued at $333,971,000 after buying an additional 232,469 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in Devon Energy by 10.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 5,694,373 shares of the energy company's stock worth $186,714,000 after acquiring an additional 554,219 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Devon Energy in the fourth quarter worth $154,170,000. Institutional investors own 69.72% of the company's stock.

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Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. 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 note on Tuesday, December 17th. Citigroup decreased their target price on shares of Devon Energy from $46.00 to $43.00 and set a "buy" rating for the company in a report on Friday. Mizuho cut their price target on shares of Devon Energy from $51.00 to $47.00 and set an "outperform" rating on the stock in a report on Monday, December 16th. Truist Financial boosted their price objective on shares of Devon Energy from $42.00 to $44.00 and gave the stock a "hold" rating in a report on Thursday, February 20th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $50.00 price objective on shares of Devon Energy in a research report on Friday, January 10th. Ten equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $48.17.

Devon Energy Stock Performance

DVN traded down $3.87 during trading on Friday, hitting $29.30. The company's stock had a trading volume of 23,066,739 shares, compared to its average volume of 8,198,942. 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 cap of $19.01 billion, a PE ratio of 6.42, a P/E/G ratio of 1.20 and a beta of 1.50. Devon Energy Co. has a one year low of $29.06 and a one year high of $55.09. The business's 50 day simple moving average is $35.22 and its 200-day simple moving average is $36.67.

Devon Energy (NYSE:DVN - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.16 earnings per share for the quarter, beating analysts' consensus estimates of $1.00 by $0.16. The firm had revenue of $4.40 billion for 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 predict that Devon Energy Co. will post 4.85 EPS for the current fiscal year.

Devon Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a $0.24 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.96 annualized dividend and a yield of 3.28%. This is an increase from Devon Energy's previous quarterly dividend of $0.22. Devon Energy's dividend payout ratio is currently 21.05%.

About Devon Energy

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.