Greatmark Investment Partners Inc. Increases Stock Holdings in Devon Energy Corporation $DVN

Greatmark Investment Partners Inc. boosted its holdings in shares of Devon Energy Corporation (NYSE:DVN) by 2.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 588,575 shares of the energy company’s stock after purchasing an additional 16,650 shares during the quarter. Devon Energy makes up approximately 2.6% of Greatmark Investment Partners Inc.’s holdings, making the stock its 15th largest holding. Greatmark Investment Partners Inc.’s holdings in Devon Energy were worth $21,560,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of DVN. Woodline Partners LP increased its holdings in Devon Energy by 98.8% during the 1st quarter. Woodline Partners LP now owns 115,780 shares of the energy company’s stock worth $4,330,000 after purchasing an additional 57,555 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in Devon Energy during the 2nd quarter worth approximately $403,000. Jump Financial LLC increased its holdings in Devon Energy by 58.8% during the 2nd quarter. Jump Financial LLC now owns 28,251 shares of the energy company’s stock worth $899,000 after purchasing an additional 10,464 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in Devon Energy by 17.8% during the 2nd quarter. Daiwa Securities Group Inc. now owns 148,882 shares of the energy company’s stock worth $4,736,000 after purchasing an additional 22,482 shares during the last quarter. Finally, NewEdge Advisors LLC increased its holdings in Devon Energy by 6.0% during the 2nd quarter. NewEdge Advisors LLC now owns 144,174 shares of the energy company’s stock worth $4,586,000 after purchasing an additional 8,127 shares during the last quarter. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Devon Energy Price Performance

Shares of NYSE DVN opened at $44.18 on Friday. Devon Energy Corporation has a twelve month low of $29.06 and a twelve month high of $52.71. The company has a current ratio of 0.98, a quick ratio of 0.90 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $27.45 billion, a price-to-earnings ratio of 10.59, a price-to-earnings-growth ratio of 0.83 and a beta of 0.47. The business has a 50 day simple moving average of $46.37 and a 200-day simple moving average of $39.57.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, February 17th. The energy company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.01. Devon Energy had a return on equity of 16.28% and a net margin of 15.37%.The business had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $3.67 billion. During the same period in the previous year, the business earned $1.10 EPS. The business’s quarterly revenue was down 6.4% on a year-over-year basis. As a group, equities research analysts expect that Devon Energy Corporation will post 4.85 earnings per share for the current year.

Devon Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Friday, March 13th. Devon Energy’s payout ratio is 23.02%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on DVN shares. Susquehanna lifted their price objective on Devon Energy from $47.00 to $52.00 and gave the stock a “positive” rating in a report on Friday, February 20th. Roth Mkm restated a “buy” rating and set a $50.00 price objective on shares of Devon Energy in a report on Thursday, February 19th. Barclays lifted their price objective on Devon Energy from $52.00 to $54.00 and gave the stock an “overweight” rating in a report on Monday, March 16th. Citigroup lifted their price objective on Devon Energy from $44.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, March 30th. Finally, Argus lifted their price objective on Devon Energy from $41.00 to $51.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Devon Energy presently has an average rating of “Moderate Buy” and a consensus target price of $53.25.

Devon Energy Profile

Devon Energy Corporation (NYSE: DVN) is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.

Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.