Caerus Investment Advisors LLC Buys Shares of 17,777 Devon Energy Corporation $DVN

Caerus Investment Advisors LLC bought a new stake in Devon Energy Corporation (NYSE:DVN) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 17,777 shares of the energy company’s stock, valued at approximately $623,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. PFS Partners LLC acquired a new position in Devon Energy during the third quarter valued at $25,000. First Horizon Corp acquired a new stake in Devon Energy during the 3rd quarter worth about $26,000. Caldwell Trust Co purchased a new position in Devon Energy during the 2nd quarter valued at about $25,000. Ameriflex Group Inc. grew its stake in Devon Energy by 702.0% during the 3rd quarter. Ameriflex Group Inc. now owns 802 shares of the energy company’s stock valued at $28,000 after acquiring an additional 702 shares in the last quarter. Finally, Accredited Wealth Management LLC increased its holdings in shares of Devon Energy by 61.6% in the 3rd quarter. Accredited Wealth Management LLC now owns 808 shares of the energy company’s stock valued at $28,000 after purchasing an additional 308 shares during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Stock Up 1.6%

DVN opened at $47.38 on Wednesday. The company has a market capitalization of $29.38 billion, a PE ratio of 11.36, a price-to-earnings-growth ratio of 4.47 and a beta of 0.56. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.98 and a quick ratio of 0.90. Devon Energy Corporation has a fifty-two week low of $25.89 and a fifty-two week high of $47.50. The business has a 50-day moving average of $41.72 and a 200-day moving average of $37.41.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Tuesday, February 17th. The energy company reported $0.82 EPS for the quarter, beating the consensus estimate 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 $17.19 billion during the quarter, compared to analysts’ expectations of $3.67 billion. During the same quarter in the previous year, the business posted $1.10 EPS. The firm’s quarterly revenue was down 6.4% compared to the same quarter last year. Equities research analysts forecast that Devon Energy Corporation will post 4.85 EPS for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Friday, March 13th. Devon Energy’s payout ratio is currently 23.02%.

Key Headlines Impacting Devon Energy

Here are the key news stories impacting Devon Energy this week:

• Positive Sentiment: Mizuho raised its price target to $62 and put an “outperform” rating on DVN — a large upside that signals stronger analyst conviction and likely increased buy interest. Read More.
• Positive Sentiment: Barclays raised its target to $54 and set an “overweight” rating, another vote of confidence from a major shop that supports upside vs. current levels. Read More.
• Positive Sentiment: Sector momentum: coverage highlights that rising crude prices (geopolitical risk around Iran) are benefiting top oil & gas names including Devon, lifting sentiment across the group. Read More.
• Positive Sentiment: Barron’s lists Devon as one of three “underappreciated” energy stocks to play an oil upswing, reinforcing institutional interest from value/contrarian investors. Read More.
• Positive Sentiment: The Motley Fool highlights Devon’s durable shareholder-return profile (low costs, FCF, pending Coterra merger) — fundamental reasons investors may bid the stock higher for yield and buyback upside. Read More.
• Positive Sentiment: Zacks notes Devon as a trending/market-beaten-upstock and reports a recent session gain, reflecting short-term retail/institutional attention. Read More.
• Neutral Sentiment: TD Cowen nudged its target to $50 but kept a “hold” rating (only modest upside), so this is less directional than the larger upgrades. Read More.
• Neutral Sentiment: Zacks and Yahoo Finance pieces reviewing Q4/peer comparisons and “trending” status provide context on fundamentals and peer-relative performance but contain no new catalyst. Read More. · Read More.

Analysts Set New Price Targets

DVN has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reduced their price target on shares of Devon Energy from $44.00 to $41.00 and set an “overweight” rating for the company in a research report on Thursday, January 15th. Citigroup upped their price objective on shares of Devon Energy from $43.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, December 17th. Sanford C. Bernstein cut their target price on shares of Devon Energy from $48.00 to $42.00 and set an “outperform” rating for the company in a research report on Monday, January 5th. Johnson Rice decreased their target price on shares of Devon Energy from $70.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, December 5th. Finally, Morgan Stanley lowered their price target on shares of Devon Energy from $48.00 to $46.00 and set an “overweight” rating on the stock in a report on Friday, January 23rd. Twenty-three analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $49.37.

About Devon Energy

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.