Value Holdings Management CO. LLC Raises Holdings in Devon Energy Co. (NYSE:DVN)

Value Holdings Management CO. LLC lifted its holdings in Devon Energy Co. (NYSE:DVN - Free Report) by 200.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 63,000 shares of the energy company's stock after purchasing an additional 42,000 shares during the period. Value Holdings Management CO. LLC's holdings in Devon Energy were worth $2,062,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Capital Performance Advisors LLP purchased a new position in shares of Devon Energy in the 3rd quarter valued at about $35,000. Future Financial Wealth Managment LLC acquired a new position in Devon Energy during the 3rd quarter worth approximately $39,000. True Wealth Design LLC increased its position in shares of Devon Energy by 3,889.3% in the 3rd quarter. True Wealth Design LLC now owns 1,117 shares of the energy company's stock valued at $44,000 after purchasing an additional 1,089 shares during the last quarter. Hazlett Burt & Watson Inc. raised its holdings in shares of Devon Energy by 29.8% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company's stock valued at $49,000 after purchasing an additional 290 shares in the last quarter. Finally, Activest Wealth Management lifted its position 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 purchasing an additional 480 shares during the last quarter. 69.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on DVN. Truist Financial decreased their price target on Devon Energy from $43.00 to $42.00 and set a "hold" rating for the company in a report on Monday, January 13th. Barclays lowered their price target on Devon Energy from $55.00 to $46.00 and set an "equal weight" rating for the company in a report on Thursday, October 3rd. StockNews.com upgraded shares of Devon Energy from a "sell" rating to a "hold" rating in a research report on Friday, January 3rd. BMO Capital Markets dropped their target price on shares of Devon Energy from $52.00 to $48.00 and set an "outperform" rating on the stock in a research report on Friday, October 4th. Finally, TD Cowen decreased their price objective on shares of Devon Energy from $54.00 to $46.00 and set a "hold" rating for the company in a research note on Tuesday, November 5th. Nine investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $49.27.

Devon Energy Price Performance

NYSE:DVN traded down $0.44 during trading hours on Friday, hitting $37.98. The company's stock had a trading volume of 9,342,292 shares, compared to its average volume of 10,750,120. The company has a market capitalization of $24.95 billion, a PE ratio of 7.05, a PEG ratio of 1.14 and a beta of 2.00. Devon Energy Co. has a 52-week low of $30.39 and a 52-week high of $55.09. The business's 50-day moving average is $35.48 and its two-hundred day moving average is $40.32. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11.

Devon Energy (NYSE:DVN - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, topping analysts' consensus estimates of $1.09 by $0.01. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The firm had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter in the previous year, the firm earned $1.65 earnings per share. The firm's revenue was up 4.9% on a year-over-year basis. As a group, research analysts anticipate that Devon Energy Co. will post 4.72 EPS for the current fiscal year.

Devon Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were issued a dividend of $0.22 per share. The ex-dividend date was Friday, December 13th. This represents a $0.88 annualized dividend and a yield of 2.32%. Devon Energy's dividend payout ratio is presently 16.33%.

About Devon Energy

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.