Susquehanna Fundamental Investments LLC Makes New Investment in Devon Energy Co. (NYSE:DVN)

Susquehanna Fundamental Investments LLC bought a new stake in shares of Devon Energy Co. (NYSE:DVN - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 653,792 shares of the energy company's stock, valued at approximately $21,399,000. Susquehanna Fundamental Investments LLC owned 0.10% of Devon Energy as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in DVN. Redwood Wealth Management Group LLC increased 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 purchasing an additional 309 shares during the last quarter. Cornerstone Wealth Management LLC increased its holdings in shares of Devon Energy by 1.6% in the fourth quarter. Cornerstone Wealth Management LLC now owns 21,242 shares of the energy company's stock worth $695,000 after acquiring an additional 326 shares in the last quarter. Annex Advisory Services LLC increased its holdings in shares of Devon Energy by 1.2% in the fourth quarter. Annex Advisory Services LLC now owns 27,021 shares of the energy company's stock worth $884,000 after acquiring an additional 327 shares in the last quarter. Independence Bank of Kentucky increased its holdings in shares of Devon Energy by 7.8% in the fourth quarter. Independence Bank of Kentucky now owns 4,580 shares of the energy company's stock worth $150,000 after acquiring an additional 330 shares in the last quarter. Finally, Covestor Ltd increased its holdings in shares of Devon Energy by 15.9% in the fourth quarter. Covestor Ltd now owns 2,521 shares of the energy company's stock worth $83,000 after acquiring an additional 345 shares in the last quarter. 69.72% of the stock is owned by institutional investors and hedge funds.

Devon Energy Price Performance

Shares of DVN traded down $0.25 during mid-day trading on Tuesday, reaching $31.30. The company had a trading volume of 4,948,988 shares, compared to its average volume of 8,511,238. The company's 50 day simple moving average is $33.44 and its 200 day simple moving average is $35.28. Devon Energy Co. has a 1-year low of $25.89 and a 1-year high of $52.86. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.04. The company has a market capitalization of $20.14 billion, a price-to-earnings ratio of 6.86, a P/E/G ratio of 1.20 and a beta of 1.50.

Devon Energy (NYSE:DVN - Get Free Report) last issued 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. The business had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.25 billion. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. Analysts expect that Devon Energy Co. will post 4.85 EPS for the current 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 paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend was Friday, March 14th. 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%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Raymond James set a $40.00 price target on Devon Energy in a report on Monday, April 21st. Piper Sandler decreased their price objective on Devon Energy from $55.00 to $54.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Barclays decreased their target price on shares of Devon Energy from $44.00 to $38.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 23rd. Williams Trading set a $50.00 price target on shares of Devon Energy in a research report on Wednesday, March 5th. Finally, Benchmark reissued a "buy" rating and issued a $44.00 price objective on shares of Devon Energy in a research report on Thursday, February 20th. Ten investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, Devon Energy has a consensus rating of "Moderate Buy" and a consensus price target of $43.87.

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.