Natixis Advisors LLC Sells 91,437 Shares of Devon Energy Co. (NYSE:DVN)

Natixis Advisors LLC cut its holdings in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 37.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 155,202 shares of the energy company's stock after selling 91,437 shares during the period. Natixis Advisors LLC's holdings in Devon Energy were worth $5,080,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in Devon Energy by 1.3% in the third 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 during the period. EnCap Energy Capital Fund XI L.P. bought a new stake in shares of Devon Energy during the 3rd quarter valued at $461,857,000. EnCap Partners GP LLC acquired a new position in shares of Devon Energy in the 3rd quarter valued at $408,653,000. Victory Capital Management Inc. lifted its stake in shares of Devon Energy by 2.3% in the 4th quarter. Victory Capital Management Inc. now owns 10,203,812 shares of the energy company's stock valued at $333,971,000 after purchasing an additional 232,469 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Devon Energy by 1.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,793,610 shares of the energy company's stock worth $265,766,000 after purchasing an additional 70,848 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

Several equities analysts have weighed in on DVN shares. Barclays increased their target price on Devon Energy from $43.00 to $44.00 and gave the company an "equal weight" rating in a research note on Thursday, February 20th. 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 research report on Monday, December 16th. Benchmark reissued a "buy" rating and set a $44.00 price objective on shares of Devon Energy in a research note on Thursday, February 20th. Truist Financial upped their target price on shares of Devon Energy from $42.00 to $44.00 and gave the company a "hold" rating in a research note on Thursday, February 20th. Finally, Wells Fargo & Company reduced 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. Ten research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $48.46.

Devon Energy Stock Performance

Shares of NYSE DVN remained flat at $36.96 during mid-day trading on Tuesday. The stock had a trading volume of 5,932,880 shares, compared to its average volume of 7,852,756. 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 company has a 50 day moving average price of $35.46 and a 200-day moving average price of $36.92. The company has a market cap of $23.99 billion, a P/E ratio of 8.11, a PEG ratio of 1.20 and a beta of 1.91. Devon Energy Co. has a 12 month low of $30.39 and a 12 month high of $55.09.

Devon Energy (NYSE:DVN - Get Free Report) last posted its quarterly earnings results 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. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. The firm had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.25 billion. Sell-side analysts expect that Devon Energy Co. will post 4.85 earnings per share for the current fiscal year.

Devon Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.24 per share. This is a positive change from Devon Energy's previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a yield of 2.60%. The ex-dividend date is Friday, March 14th. Devon Energy's dividend payout ratio is 21.05%.

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.