Generali Investments Management Co LLC Acquires 2,334 Shares of Devon Energy Co. (NYSE:DVN)

Generali Investments Management Co LLC increased its position in shares of Devon Energy Co. (NYSE:DVN) by 77.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,339 shares of the energy company’s stock after purchasing an additional 2,334 shares during the quarter. Generali Investments Management Co LLC’s holdings in Devon Energy were worth $200,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hurley Capital LLC bought a new stake in Devon Energy during the fourth quarter worth about $26,000. Accredited Wealth Management LLC acquired a new position in shares of Devon Energy in the fourth quarter valued at approximately $28,000. Cromwell Holdings LLC boosted its holdings in Devon Energy by 98.0% in the fourth quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company’s stock valued at $40,000 after acquiring an additional 598 shares during the last quarter. Sierra Ocean LLC acquired a new stake in shares of Devon Energy during the 4th quarter worth approximately $43,000. Finally, Thompson Investment Management Inc. grew its position in shares of Devon Energy by 60.0% during the 4th quarter. Thompson Investment Management Inc. now owns 1,600 shares of the energy company’s stock worth $52,000 after buying an additional 600 shares during the period. Institutional investors own 69.72% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on DVN shares. Morgan Stanley raised their price objective on shares of Devon Energy from $42.00 to $44.00 and gave the stock an “overweight” rating in a research report on Friday, May 23rd. Piper Sandler reduced their price objective on shares of Devon Energy from $56.00 to $53.00 and set an “overweight” rating for the company in a research report on Tuesday, May 13th. Truist Financial raised their price objective on shares of Devon Energy from $42.00 to $44.00 and gave the stock a “hold” rating in a research report on Thursday, February 20th. Citigroup reduced their price objective on shares of Devon Energy from $46.00 to $43.00 and set a “buy” rating for the company in a research report on Friday, April 4th. Finally, Williams Trading set a $50.00 target price on Devon Energy in a report on Wednesday, March 5th. Ten research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.71.

Devon Energy Trading Up 2.7%

NYSE DVN opened at $32.28 on Friday. The stock has a market capitalization of $20.73 billion, a price-to-earnings ratio of 7.08, a PEG ratio of 1.20 and a beta of 1.02. Devon Energy Co. has a one year low of $25.89 and a one year high of $49.35. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01. The business’s fifty day moving average is $31.09 and its 200-day moving average is $33.81.

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

Devon Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend is Friday, June 13th. Devon Energy’s payout ratio is 21.87%.

Devon Energy 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.