Fielder Capital Group LLC Purchases New Holdings in Devon Energy Co. (NYSE:DVN)

Fielder Capital Group LLC acquired a new position in shares of Devon Energy Co. (NYSE:DVN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 6,734 shares of the energy company’s stock, valued at approximately $305,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DVN. Machina Capital S.A.S. bought a new stake in shares of Devon Energy during the 4th quarter worth approximately $551,000. MeadowBrook Investment Advisors LLC bought a new stake in Devon Energy during the fourth quarter worth $333,000. Gallacher Capital Management LLC boosted its holdings in shares of Devon Energy by 99.1% in the 4th quarter. Gallacher Capital Management LLC now owns 9,392 shares of the energy company’s stock valued at $425,000 after purchasing an additional 4,675 shares in the last quarter. TCG Advisory Services LLC increased its stake in shares of Devon Energy by 979.8% in the 4th quarter. TCG Advisory Services LLC now owns 146,148 shares of the energy company’s stock valued at $6,620,000 after purchasing an additional 132,613 shares during the last quarter. Finally, Royal Fund Management LLC raised its holdings in shares of Devon Energy by 11.6% during the 4th quarter. Royal Fund Management LLC now owns 32,046 shares of the energy company’s stock worth $1,452,000 after buying an additional 3,331 shares in the last quarter. 69.72% of the stock is owned by institutional investors and hedge funds.

Devon Energy Trading Up 0.6 %

DVN traded up $0.32 during trading on Monday, reaching $50.86. 5,851,269 shares of the stock traded hands, compared to its average volume of 7,877,557. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 0.46. The stock’s 50-day moving average is $49.62 and its 200 day moving average is $46.25. Devon Energy Co. has a 12 month low of $40.47 and a 12 month high of $55.09. The stock has a market capitalization of $32.14 billion, a PE ratio of 9.71 and a beta of 2.16.

Devon Energy (NYSE:DVN) last released its earnings results on Wednesday, May 1st. The energy company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.10 by $0.06. Devon Energy had a return on equity of 29.02% and a net margin of 22.27%. The business had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.64 billion. During the same quarter last year, the firm posted $1.46 earnings per share. The firm’s revenue was down 5.9% on a year-over-year basis. Equities analysts anticipate that Devon Energy Co. will post 5.24 earnings per share for the current year.

Devon Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.73%. The ex-dividend date is Friday, June 14th. Devon Energy’s dividend payout ratio is presently 16.79%.

Analysts Set New Price Targets

A number of research firms have issued reports on DVN. Piper Sandler lifted their target price on Devon Energy from $59.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Stifel Nicolaus upped their price objective on shares of Devon Energy from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. StockNews.com upgraded shares of Devon Energy from a “hold” rating to a “buy” rating in a research report on Friday. Truist Financial lowered their price target on shares of Devon Energy from $69.00 to $67.00 and set a “buy” rating for the company in a report on Friday. Finally, Wells Fargo & Company raised Devon Energy from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $46.00 to $59.00 in a report on Monday, April 1st. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $58.44.

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.