Dakota Wealth Management Purchases 19,116 Shares of Devon Energy Corporation $DVN

Dakota Wealth Management increased its position in shares of Devon Energy Corporation (NYSE:DVN) by 71.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,701 shares of the energy company’s stock after buying an additional 19,116 shares during the period. Dakota Wealth Management’s holdings in Devon Energy were worth $1,674,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its stake in Devon Energy by 5.0% in the third quarter. Victory Capital Management Inc. now owns 11,845,958 shares of the energy company’s stock valued at $415,319,000 after acquiring an additional 560,652 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Devon Energy by 6.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 9,353,062 shares of the energy company’s stock worth $327,938,000 after purchasing an additional 552,068 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Devon Energy by 29.3% in the 3rd quarter. AQR Capital Management LLC now owns 8,223,219 shares of the energy company’s stock valued at $288,306,000 after purchasing an additional 1,862,720 shares during the period. Thrivent Financial for Lutherans raised its holdings in shares of Devon Energy by 5.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 4,712,190 shares of the energy company’s stock valued at $165,210,000 after purchasing an additional 246,179 shares during the period. Finally, Adage Capital Partners GP L.L.C. lifted its stake in Devon Energy by 83.9% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 4,568,092 shares of the energy company’s stock valued at $145,311,000 after purchasing an additional 2,083,600 shares during the last quarter. 69.72% of the stock is owned by institutional investors.

Devon Energy Stock Up 1.4%

Shares of DVN opened at $52.05 on Friday. The firm has a market cap of $32.27 billion, a P/E ratio of 12.48, a price-to-earnings-growth ratio of 1.19 and a beta of 0.56. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.90 and a current ratio of 0.98. Devon Energy Corporation has a 52 week low of $25.89 and a 52 week high of $52.46. The firm’s 50-day simple moving average is $43.90 and its 200 day simple moving average is $38.21.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, February 17th. The energy company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.01. Devon Energy had a net margin of 15.37% and a return on equity of 16.28%. The firm had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $3.67 billion. During the same period last year, the business posted $1.10 earnings per share. The business’s revenue for the quarter was down 6.4% compared to the same quarter last year. On average, analysts forecast 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 will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Friday, March 13th. Devon Energy’s dividend payout ratio (DPR) is presently 23.02%.

Analysts Set New Price Targets

A number of research firms recently commented on DVN. Truist Financial began coverage on Devon Energy in a report on Tuesday, March 24th. They set a “buy” rating and a $63.00 price target for the company. Wells Fargo & Company upped their price objective on Devon Energy from $43.00 to $51.00 and gave the company an “overweight” rating in a research note on Friday, February 20th. Roth Mkm reiterated a “buy” rating and set a $50.00 target price on shares of Devon Energy in a research note on Thursday, February 19th. Barclays boosted their target price on Devon Energy from $52.00 to $54.00 and gave the stock an “overweight” rating in a report on Monday, March 16th. Finally, Jefferies Financial Group increased their price target on Devon Energy from $36.00 to $44.00 in a research note on Monday, March 9th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.32.

Devon Energy Company 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.