World Investment Advisors Sells 115,978 Shares of Devon Energy Co. (NYSE:DVN)

World Investment Advisors trimmed its stake in Devon Energy Co. (NYSE:DVN - Free Report) by 77.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,459 shares of the energy company's stock after selling 115,978 shares during the period. World Investment Advisors' holdings in Devon Energy were worth $1,095,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DVN. Westpac Banking Corp raised its position in Devon Energy by 165.2% in the fourth quarter. Westpac Banking Corp now owns 16,268 shares of the energy company's stock worth $532,000 after purchasing an additional 10,133 shares in the last quarter. Bryce Point Capital LLC acquired a new position in shares of Devon Energy in the 4th quarter valued at $468,000. Huntington National Bank boosted its stake in Devon Energy by 84.6% during the 4th quarter. Huntington National Bank now owns 4,910 shares of the energy company's stock worth $161,000 after acquiring an additional 2,250 shares during the last quarter. Headlands Technologies LLC acquired a new position in Devon Energy in the fourth quarter valued at about $150,000. Finally, Geode Capital Management LLC raised its holdings in shares of Devon Energy by 6.5% during the fourth quarter. Geode Capital Management LLC now owns 16,931,275 shares of the energy company's stock worth $552,830,000 after acquiring an additional 1,038,305 shares during the period. 69.72% of the stock is currently owned by institutional investors.

Devon Energy Stock Up 16.2 %

Shares of DVN traded up $4.35 during trading hours on Wednesday, reaching $31.15. The stock had a trading volume of 21,568,210 shares, compared to its average volume of 8,339,042. 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 firm has a 50-day simple moving average of $34.62 and a 200 day simple moving average of $36.31. The company has a market capitalization of $20.22 billion, a price-to-earnings ratio of 6.83, a P/E/G ratio of 1.20 and a beta of 1.50. Devon Energy Co. has a 12 month low of $25.89 and a 12 month high of $55.09.

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Devon Energy (NYSE:DVN - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.16. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. The business had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.25 billion. Equities research analysts predict that Devon Energy Co. will post 4.85 earnings per share for the current fiscal year.

Devon Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from Devon Energy's previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 3.08%. Devon Energy's dividend payout ratio (DPR) is currently 21.05%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on DVN. Barclays increased their price objective on shares of Devon Energy from $43.00 to $44.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 20th. Williams Trading set a $50.00 price objective on shares of Devon Energy in a research note on Wednesday, March 5th. Sanford C. Bernstein raised Devon Energy from a "market perform" rating to an "outperform" rating and set a $45.00 price objective on the stock in a research note on Wednesday, January 15th. JPMorgan Chase & Co. lowered their price target 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. Finally, Piper Sandler boosted their target price on shares of Devon Energy from $54.00 to $55.00 and gave the stock an "overweight" rating in a report on Monday, February 24th. Ten investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $47.63.

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.