Devon Energy Co. (NYSE:DVN) Shares Purchased by Blue Trust Inc.

Blue Trust Inc. increased its holdings in shares of Devon Energy Co. (NYSE:DVNFree Report) by 12.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,079 shares of the energy company’s stock after acquiring an additional 1,012 shares during the period. Blue Trust Inc.’s holdings in Devon Energy were worth $433,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Geode Capital Management LLC lifted its stake in Devon Energy by 6.2% in the 1st quarter. Geode Capital Management LLC now owns 14,145,039 shares of the energy company’s stock valued at $715,360,000 after buying an additional 823,626 shares in the last quarter. Morgan Stanley lifted its stake in Devon Energy by 23.6% in the 3rd quarter. Morgan Stanley now owns 11,647,104 shares of the energy company’s stock valued at $555,567,000 after buying an additional 2,220,194 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Devon Energy by 5.1% in the 3rd quarter. Victory Capital Management Inc. now owns 8,470,996 shares of the energy company’s stock valued at $404,067,000 after buying an additional 411,777 shares in the last quarter. Raymond James & Associates lifted its stake in Devon Energy by 5.0% in the 3rd quarter. Raymond James & Associates now owns 8,429,670 shares of the energy company’s stock valued at $402,095,000 after buying an additional 402,055 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in Devon Energy by 1.4% in the 1st quarter. Northern Trust Corp now owns 7,371,571 shares of the energy company’s stock valued at $435,881,000 after buying an additional 99,059 shares in the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Devon Energy Stock Up 1.5 %

Shares of NYSE DVN opened at $50.18 on Friday. The company has a 50 day simple moving average of $44.63 and a 200-day simple moving average of $45.42. The company has a market capitalization of $31.86 billion, a P/E ratio of 8.61 and a beta of 2.18. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.07 and a quick ratio of 0.99. Devon Energy Co. has a 1 year low of $40.47 and a 1 year high of $56.19.

Devon Energy (NYSE:DVNGet Free Report) last announced its quarterly earnings results on Tuesday, February 27th. The energy company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.02. Devon Energy had a net margin of 24.56% and a return on equity of 31.72%. The business had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $3.88 billion. During the same quarter last year, the firm earned $1.66 EPS. The business’s revenue was down 3.6% compared to the same quarter last year. On average, equities research analysts predict that Devon Energy Co. will post 4.83 earnings per share for the current year.

Devon Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a $0.44 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.76 annualized dividend and a yield of 3.51%. Devon Energy’s dividend payout ratio (DPR) is presently 15.09%.

Analysts Set New Price Targets

A number of research firms have weighed in on DVN. Raymond James decreased their target price on shares of Devon Energy from $53.00 to $52.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 24th. Piper Sandler decreased their target price on shares of Devon Energy from $61.00 to $59.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 24th. Morgan Stanley raised their target price on shares of Devon Energy from $48.00 to $49.00 and gave the stock an “overweight” rating in a research note on Thursday. JPMorgan Chase & Co. raised shares of Devon Energy from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $57.00 to $58.00 in a research note on Wednesday, December 6th. Finally, Stifel Nicolaus decreased their target price on shares of Devon Energy from $75.00 to $65.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $55.19.

Read Our Latest Research Report on DVN

Devon Energy Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Devon Energy (NYSE:DVN)

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