Devon Energy Co. (NYSE:DVN) Shares Purchased by Van Den Berg Management I Inc.

Van Den Berg Management I Inc. grew its holdings in shares of Devon Energy Co. (NYSE:DVN) by 1.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 33,422 shares of the energy company’s stock after buying an additional 465 shares during the period. Van Den Berg Management I Inc.’s holdings in Devon Energy were worth $1,094,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the business. Banco Bilbao Vizcaya Argentaria S.A. raised its position in Devon Energy by 14.8% in the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 328,919 shares of the energy company’s stock worth $10,709,000 after acquiring an additional 42,339 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its holdings in shares of Devon Energy by 345.9% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 2,163,792 shares of the energy company’s stock valued at $70,821,000 after purchasing an additional 1,678,500 shares in the last quarter. Coppell Advisory Solutions LLC lifted its stake in shares of Devon Energy by 247.5% in the fourth quarter. Coppell Advisory Solutions LLC now owns 5,699 shares of the energy company’s stock valued at $182,000 after purchasing an additional 4,059 shares during the period. Fuller & Thaler Asset Management Inc. boosted its holdings in Devon Energy by 42.8% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 10,395,225 shares of the energy company’s stock worth $340,236,000 after buying an additional 3,114,656 shares in the last quarter. Finally, Pinebridge Investments L.P. grew its position in Devon Energy by 22.9% during the fourth quarter. Pinebridge Investments L.P. now owns 306,876 shares of the energy company’s stock worth $10,044,000 after buying an additional 57,229 shares during the period. 69.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on DVN. StockNews.com upgraded shares of Devon Energy from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Sanford C. Bernstein upgraded Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 target price on the stock in a research report on Wednesday, January 15th. Scotiabank dropped their price target on Devon Energy from $45.00 to $35.00 and set a “sector outperform” rating for the company in a research report on Friday, April 11th. Barclays cut their price target on Devon Energy from $44.00 to $38.00 and set an “equal weight” rating for the company in a research note on Wednesday. Finally, Piper Sandler lowered their price objective on shares of Devon Energy from $55.00 to $54.00 and set an “overweight” rating on the stock in a research note on Tuesday. Ten analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Devon Energy presently has an average rating of “Moderate Buy” and an average price target of $44.83.

Devon Energy Stock Performance

NYSE DVN opened at $31.08 on Thursday. 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 company has a market capitalization of $20.17 billion, a PE ratio of 6.82, a price-to-earnings-growth ratio of 1.20 and a beta of 1.50. The business’s 50-day moving average price is $33.70 and its 200 day moving average price is $35.60. Devon Energy Co. has a twelve month low of $25.89 and a twelve month high of $53.20.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.16. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The business had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.25 billion. On average, research analysts predict that Devon Energy Co. will post 4.85 earnings per share for the current year.

Devon Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date was Friday, March 14th. This is a positive change from Devon Energy’s previous quarterly dividend of $0.22. Devon Energy’s dividend payout ratio (DPR) is 21.05%.

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.