Tejara Capital Ltd Acquires Shares of 32,600 Devon Energy Co. (NYSE:DVN)

Tejara Capital Ltd bought a new position in Devon Energy Co. (NYSE:DVN - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm bought 32,600 shares of the energy company's stock, valued at approximately $1,067,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. True Wealth Design LLC increased its holdings in shares of Devon Energy by 3,889.3% during the 3rd quarter. True Wealth Design LLC now owns 1,117 shares of the energy company's stock worth $44,000 after buying an additional 1,089 shares during the last quarter. Cromwell Holdings LLC increased its holdings in shares of Devon Energy by 98.0% during the 4th quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company's stock worth $40,000 after buying an additional 598 shares during the last quarter. Activest Wealth Management increased its holdings in shares of Devon Energy by 60.4% during the 3rd quarter. Activest Wealth Management now owns 1,275 shares of the energy company's stock worth $50,000 after buying an additional 480 shares during the last quarter. Sierra Ocean LLC acquired a new stake in Devon Energy in the 4th quarter valued at approximately $43,000. Finally, Endeavor Private Wealth Inc. acquired a new stake in Devon Energy in the 4th quarter valued at approximately $52,000. Institutional investors and hedge funds own 69.72% of the company's stock.

Devon Energy Stock Up 0.1 %

Shares of DVN stock traded up $0.05 on Friday, reaching $36.18. 12,727,559 shares of the stock were exchanged, compared to its average volume of 7,842,045. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57. The business's 50 day moving average price is $35.46 and its 200 day moving average price is $37.06. The company has a market capitalization of $23.48 billion, a price-to-earnings ratio of 7.93, a PEG ratio of 1.20 and a beta of 1.91. Devon Energy Co. has a twelve month low of $30.39 and a twelve month high of $55.09.

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Devon Energy (NYSE:DVN - Get Free Report) last issued its earnings results on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, topping analysts' consensus estimates of $1.00 by $0.16. The firm had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.25 billion. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. As a group, 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.65%. The ex-dividend date is Friday, March 14th. This is an increase from Devon Energy's previous quarterly dividend of $0.22. Devon Energy's dividend payout ratio is currently 21.05%.

Analysts Set New Price Targets

Several analysts recently weighed in on DVN shares. StockNews.com upgraded shares of Devon Energy from a "sell" rating to a "hold" rating in a report on Friday, January 3rd. JPMorgan Chase & Co. dropped their target price on shares of Devon Energy from $48.00 to $42.00 and set a "neutral" rating for the company in a report on Thursday, March 13th. Citigroup dropped their target price on shares of Devon Energy from $48.00 to $46.00 and set a "buy" rating for the company in a report on Monday, March 17th. Truist Financial lifted their target price 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, Wells Fargo & Company dropped their target price on shares of Devon Energy from $49.00 to $43.00 and set an "overweight" rating for the company in a report on Tuesday, December 17th. Ten research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $48.46.

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.