Michels Family Financial LLC Buys Shares of 11,007 Devon Energy Co. (NYSE:DVN)

Michels Family Financial LLC purchased a new position in shares of Devon Energy Co. (NYSE:DVN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 11,007 shares of the energy company’s stock, valued at approximately $360,000.

Other institutional investors have also recently made changes to their positions in the company. Klein Pavlis & Peasley Financial Inc. purchased a new stake in Devon Energy in the fourth quarter worth about $782,000. Resona Asset Management Co. Ltd. bought a new stake in shares of Devon Energy in the 4th quarter valued at about $5,967,000. New York State Teachers Retirement System lifted its position in shares of Devon Energy by 4.5% in the 4th quarter. New York State Teachers Retirement System now owns 736,351 shares of the energy company’s stock worth $24,101,000 after purchasing an additional 31,520 shares during the period. First Dallas Securities Inc. boosted its stake in shares of Devon Energy by 31.9% during the fourth quarter. First Dallas Securities Inc. now owns 52,715 shares of the energy company’s stock valued at $1,725,000 after purchasing an additional 12,760 shares in the last quarter. Finally, Aviva PLC boosted its stake in shares of Devon Energy by 767.3% during the fourth quarter. Aviva PLC now owns 376,999 shares of the energy company’s stock valued at $12,339,000 after purchasing an additional 333,530 shares in the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on DVN shares. Truist Financial upped their target price on Devon Energy from $42.00 to $44.00 and gave the stock a “hold” rating in a report on Thursday, February 20th. Bank of America reduced their price target on Devon Energy from $52.00 to $42.00 and set a “buy” rating for the company in a research report on Tuesday, April 29th. Mizuho dropped their price objective on Devon Energy from $46.00 to $43.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. Benchmark reiterated a “buy” rating and issued a $44.00 target price on shares of Devon Energy in a research note on Thursday, February 20th. Finally, Piper Sandler decreased their price target 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. Ten analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $43.71.

Devon Energy Price Performance

NYSE DVN opened at $31.15 on Friday. The stock’s fifty day moving average price is $32.20 and its 200 day moving average price is $34.33. Devon Energy Co. has a 1 year low of $25.89 and a 1 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 company has a market cap of $20.00 billion, a price-to-earnings ratio of 6.83, a PEG ratio of 1.20 and a beta of 1.00.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data 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). Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The firm had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.31 billion. During the same period in the prior year, the company posted $1.16 earnings per share. The firm’s revenue for the quarter was up 23.8% on a year-over-year basis. As a group, equities research analysts forecast that Devon Energy Co. will post 4.85 earnings per share for the current year.

Devon Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date is Friday, June 13th. Devon Energy’s dividend payout ratio is presently 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.