SVB Wealth LLC Makes New $256,000 Investment in Devon Energy Co. (NYSE:DVN)

SVB Wealth LLC purchased a new stake in shares of Devon Energy Co. (NYSE:DVN - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 7,810 shares of the energy company's stock, valued at approximately $256,000.

A number of other hedge funds have also recently made changes to their positions in DVN. Capital Performance Advisors LLP purchased a new position in shares of Devon Energy during the 3rd quarter valued at $35,000. Cromwell Holdings LLC grew its position in Devon Energy by 98.0% in the fourth quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company's stock worth $40,000 after acquiring an additional 598 shares in the last quarter. Sierra Ocean LLC purchased a new position in Devon Energy in the fourth quarter worth $43,000. True Wealth Design LLC grew its position in Devon Energy by 3,889.3% in the third quarter. True Wealth Design LLC now owns 1,117 shares of the energy company's stock worth $44,000 after acquiring an additional 1,089 shares in the last quarter. Finally, Activest Wealth Management grew its position in Devon Energy by 60.4% in the third quarter. Activest Wealth Management now owns 1,275 shares of the energy company's stock worth $50,000 after acquiring an additional 480 shares in the last quarter. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DVN has been the subject of several research reports. Benchmark reiterated a "buy" rating and issued a $44.00 target price on shares of Devon Energy in a research report on Thursday, February 20th. Wolfe Research upgraded shares of Devon Energy from a "peer perform" rating to an "outperform" rating and set a $45.00 target price for the company in a research report on Friday, January 3rd. Susquehanna upped their target price on shares of Devon Energy from $50.00 to $52.00 and gave the stock a "positive" rating in a research report on Thursday, February 20th. Raymond James upped their target price on shares of Devon Energy from $53.00 to $54.00 and gave the stock an "outperform" rating in a research report on Thursday, January 23rd. Finally, Citigroup lowered their price target on shares of Devon Energy from $55.00 to $48.00 and set a "buy" rating for the company in a research note on Tuesday, November 26th. Ten equities 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.com, Devon Energy currently has a consensus rating of "Moderate Buy" and an average target price of $48.87.

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Devon Energy Trading Up 2.6 %

Shares of NYSE:DVN traded up $0.87 during midday trading on Friday, hitting $34.74. 10,538,173 shares of the stock traded hands, compared to its average volume of 7,841,178. Devon Energy Co. has a one year low of $30.39 and a one year high of $55.09. The stock has a market capitalization of $22.54 billion, a PE ratio of 7.62, a P/E/G ratio of 1.20 and a beta of 1.91. The business's 50 day moving average is $35.24 and its two-hundred day moving average is $37.68. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.57.

Devon Energy (NYSE:DVN - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.00 by $0.16. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The company 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 earnings per share for the current year.

Devon Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.24 dividend. This is an increase from Devon Energy's previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend is Friday, March 14th. Devon Energy's dividend payout ratio is presently 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.