Speece Thorson Capital Group Inc. Sells 14,353 Shares of Devon Energy Co. (NYSE:DVN)

Speece Thorson Capital Group Inc. reduced its position in Devon Energy Co. (NYSE:DVN - Free Report) by 4.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 314,770 shares of the energy company's stock after selling 14,353 shares during the quarter. Speece Thorson Capital Group Inc.'s holdings in Devon Energy were worth $10,302,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Hurley Capital LLC purchased a new stake in Devon Energy during the 4th quarter valued at approximately $26,000. Cromwell Holdings LLC grew its stake 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 acquiring an additional 598 shares in the last quarter. Sierra Ocean LLC bought a new stake in Devon Energy in the 4th quarter valued at $43,000. Endeavor Private Wealth Inc. purchased a new stake in Devon Energy in the 4th quarter worth $52,000. Finally, Thompson Investment Management Inc. boosted its holdings in shares of Devon Energy by 60.0% during the 4th quarter. Thompson Investment Management Inc. now owns 1,600 shares of the energy company's stock valued at $52,000 after purchasing an additional 600 shares during the last quarter. 69.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DVN has been the topic of a number of research reports. Truist Financial lifted their price objective on Devon Energy from $42.00 to $44.00 and gave the stock a "hold" rating in a research note on Thursday, February 20th. Susquehanna decreased their price target on shares of Devon Energy from $52.00 to $41.00 and set a "positive" rating on the stock in a research note on Tuesday. JPMorgan Chase & Co. dropped their price objective on shares of Devon Energy from $48.00 to $42.00 and set a "neutral" rating for the company in a research note on Thursday, March 13th. UBS Group decreased their target price on shares of Devon Energy from $41.00 to $35.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. Finally, Morgan Stanley set a $47.00 price target on Devon Energy and gave the stock an "overweight" rating in a research report on Wednesday, March 26th. Ten equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $44.83.

Devon Energy Stock Up 1.4 %

NYSE DVN traded up $0.45 on Thursday, reaching $31.53. 3,445,374 shares of the stock traded hands, compared to its average volume of 10,108,343. Devon Energy Co. has a 12 month low of $25.89 and a 12 month high of $53.20. The company has a market cap of $20.46 billion, a price-to-earnings ratio of 6.91, a PEG ratio of 1.20 and a beta of 1.50. The company has a fifty day moving average price of $33.70 and a 200-day moving average price of $35.60. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.04.

Devon Energy (NYSE:DVN - Get Free Report) last released 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 firm had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.25 billion. As a group, research analysts forecast that Devon Energy Co. will post 4.85 EPS for the current fiscal year.

Devon Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 3.04%. The ex-dividend date was Friday, March 14th. This is a boost from Devon Energy's previous quarterly dividend of $0.22. Devon Energy's dividend payout ratio is presently 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.