Westwood Holdings Group Inc. Has $433,000 Position in Devon Energy Co. (NYSE:DVN)

Westwood Holdings Group Inc. lowered its holdings in Devon Energy Co. (NYSE:DVN) by 7.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 13,229 shares of the energy company’s stock after selling 1,085 shares during the quarter. Westwood Holdings Group Inc.’s holdings in Devon Energy were worth $433,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Twinbeech Capital LP bought a new position in Devon Energy during the 4th quarter valued at $523,000. Two Sigma Investments LP bought a new position in Devon Energy during the 4th quarter valued at $256,000. Texas Bank & Trust Co bought a new position in Devon Energy during the 4th quarter valued at $360,000. Trace Wealth Advisors LLC bought a new position in Devon Energy during the 4th quarter valued at $334,000. Finally, Sagefield Capital LP bought a new position in Devon Energy during the 4th quarter valued at $9,428,000. 69.72% of the stock is currently owned by institutional investors.

Devon Energy Stock Down 2.0%

DVN stock opened at $31.54 on Thursday. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $20.25 billion, a PE ratio of 6.92, a PEG ratio of 1.20 and a beta of 1.00. Devon Energy Co. has a twelve month low of $25.89 and a twelve month high of $49.39. The stock has a 50-day simple moving average of $32.37 and a two-hundred day simple moving average of $34.44.

Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, May 6th. The energy company reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.06). The company had revenue of $4.45 billion for the quarter, compared to analysts’ expectations of $4.31 billion. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The firm’s quarterly revenue was up 23.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.16 EPS. On average, equities analysts predict that Devon Energy Co. will post 4.85 EPS for the current fiscal year.

Devon Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend is Friday, June 13th. Devon Energy’s payout ratio is presently 21.87%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Truist Financial raised their price objective on Devon Energy from $42.00 to $44.00 and gave the company a “hold” rating in a research note on Thursday, February 20th. UBS Group lowered their target price on Devon Energy from $41.00 to $35.00 and set a “neutral” rating on the stock in a research note on Monday, April 7th. Mizuho lowered their target price on Devon Energy from $46.00 to $43.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 13th. Williams Trading set a $50.00 target price on Devon Energy in a research note on Wednesday, March 5th. Finally, Benchmark reiterated a “buy” rating and set a $44.00 target price on shares of Devon Energy in a research note on Thursday, February 20th. Ten equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $43.83.

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.