Quinn Opportunity Partners LLC Has $1.64 Million Position in Devon Energy Co. (NYSE:DVN)

Quinn Opportunity Partners LLC increased its holdings in Devon Energy Co. (NYSE:DVN - Free Report) by 150.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 50,000 shares of the energy company's stock after purchasing an additional 30,000 shares during the period. Quinn Opportunity Partners LLC's holdings in Devon Energy were worth $1,636,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in DVN. Redwood Wealth Management Group LLC lifted its holdings in shares of Devon Energy by 3.9% during 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 lifted its holdings in Devon Energy by 1.6% during the 4th quarter. Cornerstone Wealth Management LLC now owns 21,242 shares of the energy company's stock valued at $695,000 after purchasing an additional 326 shares during the last quarter. Annex Advisory Services LLC boosted its position in Devon Energy by 1.2% in the fourth quarter. Annex Advisory Services LLC now owns 27,021 shares of the energy company's stock valued at $884,000 after buying an additional 327 shares in the last quarter. Independence Bank of Kentucky grew its stake in Devon Energy by 7.8% during the fourth quarter. Independence Bank of Kentucky now owns 4,580 shares of the energy company's stock worth $150,000 after buying an additional 330 shares during the last quarter. Finally, Covestor Ltd increased its holdings in shares of Devon Energy by 15.9% during the fourth quarter. Covestor Ltd now owns 2,521 shares of the energy company's stock worth $83,000 after buying an additional 345 shares in the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.

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Devon Energy Stock Down 0.8 %

Shares of DVN traded down $0.23 during mid-day trading on Tuesday, hitting $28.51. 10,210,208 shares of the company's stock were exchanged, compared to its average volume of 10,129,434. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01. Devon Energy Co. has a 52 week low of $25.89 and a 52 week high of $53.20. The company has a market cap of $18.50 billion, a PE ratio of 6.25, a P/E/G ratio of 1.20 and a beta of 1.50. The company has a 50-day simple moving average of $34.27 and a 200 day simple moving average of $36.06.

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 for the quarter, beating the consensus estimate of $1.00 by $0.16. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. The company had revenue of $4.40 billion during the quarter, compared to analysts' expectations of $4.25 billion. On average, research analysts forecast 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 was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a dividend of $0.24 per share. The ex-dividend date was Friday, March 14th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.37%. This is a boost from Devon Energy's previous quarterly dividend of $0.22. Devon Energy's dividend payout ratio is currently 21.05%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on DVN. JPMorgan Chase & Co. cut 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. StockNews.com raised shares of Devon Energy from a "sell" rating to a "hold" rating in a research note on Friday, January 3rd. Williams Trading set a $50.00 price target on shares of Devon Energy in a research note on Wednesday, March 5th. Truist Financial raised their price target on shares of Devon Energy from $42.00 to $44.00 and gave the company a "hold" rating in a report on Thursday, February 20th. Finally, Scotiabank reduced their price objective on Devon Energy from $45.00 to $35.00 and set a "sector outperform" rating on the stock in a report on Friday. Ten analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Devon Energy presently has an average rating of "Moderate Buy" and an average price target of $46.71.

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.