Devon Energy Co. (NYSE:DVN) Shares Bought by South Dakota Investment Council

South Dakota Investment Council boosted its position in shares of Devon Energy Co. (NYSE:DVN) by 0.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 84,318 shares of the energy company’s stock after buying an additional 700 shares during the quarter. South Dakota Investment Council’s holdings in Devon Energy were worth $3,820,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DVN. Avior Wealth Management LLC grew its position in shares of Devon Energy by 4.9% in the third quarter. Avior Wealth Management LLC now owns 4,406 shares of the energy company’s stock valued at $210,000 after purchasing an additional 207 shares during the period. Private Trust Co. NA lifted its stake in shares of Devon Energy by 1.6% in the third quarter. Private Trust Co. NA now owns 18,020 shares of the energy company’s stock worth $860,000 after buying an additional 291 shares in the last quarter. Caprock Group LLC lifted its stake in shares of Devon Energy by 41.0% in the third quarter. Caprock Group LLC now owns 14,325 shares of the energy company’s stock worth $683,000 after buying an additional 4,162 shares in the last quarter. Greenwood Capital Associates LLC lifted its stake in shares of Devon Energy by 4.1% in the third quarter. Greenwood Capital Associates LLC now owns 22,751 shares of the energy company’s stock worth $1,085,000 after buying an additional 886 shares in the last quarter. Finally, Galvin Gaustad & Stein LLC lifted its stake in shares of Devon Energy by 8.5% in the third quarter. Galvin Gaustad & Stein LLC now owns 6,414 shares of the energy company’s stock worth $306,000 after buying an additional 504 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Trading Down 0.9 %

NYSE DVN opened at $52.09 on Thursday. The company has a quick ratio of 0.99, a current ratio of 1.07 and a debt-to-equity ratio of 0.46. Devon Energy Co. has a 52 week low of $40.47 and a 52 week high of $55.09. The stock has a market capitalization of $33.08 billion, a PE ratio of 8.93 and a beta of 2.19. The firm has a 50 day moving average of $48.51 and a two-hundred day moving average of $46.09.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, February 27th. The energy company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.39 by $0.02. Devon Energy had a net margin of 24.56% and a return on equity of 31.72%. The company had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $3.88 billion. During the same quarter in the previous year, the business posted $1.66 EPS. The firm’s revenue was down 3.6% on a year-over-year basis. As a group, research analysts expect that Devon Energy Co. will post 5.22 EPS for the current fiscal year.

Devon Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 3.38%. The ex-dividend date of this dividend was Thursday, March 14th. Devon Energy’s dividend payout ratio (DPR) is presently 15.09%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. UBS Group raised their price target on shares of Devon Energy from $48.00 to $57.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 10th. Citigroup lifted their target price on shares of Devon Energy from $55.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. Truist Financial boosted their price target on shares of Devon Energy from $66.00 to $69.00 and gave the company a “buy” rating in a research note on Monday. Scotiabank boosted their price target on shares of Devon Energy from $53.00 to $67.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th. Finally, Morgan Stanley boosted their price target on shares of Devon Energy from $49.00 to $50.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $58.33.

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.