Devon Energy Corporation $DVN Shares Purchased by Aberdeen Group plc

Aberdeen Group plc lifted its position in Devon Energy Corporation (NYSE:DVN) by 35.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 358,897 shares of the energy company’s stock after acquiring an additional 94,553 shares during the period. Aberdeen Group plc owned 0.06% of Devon Energy worth $13,146,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. AQR Capital Management LLC increased its stake in Devon Energy by 78.7% during the second quarter. AQR Capital Management LLC now owns 6,360,499 shares of the energy company’s stock worth $202,327,000 after acquiring an additional 2,802,137 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its stake in Devon Energy by 83.9% during the second quarter. Adage Capital Partners GP L.L.C. now owns 4,568,092 shares of the energy company’s stock worth $145,311,000 after acquiring an additional 2,083,600 shares during the last quarter. Sourcerock Group LLC increased its stake in Devon Energy by 2,132.3% during the second quarter. Sourcerock Group LLC now owns 1,751,276 shares of the energy company’s stock worth $55,708,000 after acquiring an additional 1,672,824 shares during the last quarter. SG Americas Securities LLC increased its stake in Devon Energy by 446.7% during the fourth quarter. SG Americas Securities LLC now owns 1,236,301 shares of the energy company’s stock worth $45,286,000 after acquiring an additional 1,010,170 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in Devon Energy by 704.3% during the third quarter. Wellington Management Group LLP now owns 975,114 shares of the energy company’s stock worth $34,187,000 after acquiring an additional 853,875 shares during the last quarter. 69.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on DVN. Piper Sandler upped their price objective on shares of Devon Energy from $59.00 to $67.00 and gave the stock an “overweight” rating in a report on Thursday, March 12th. Mizuho upped their price objective on shares of Devon Energy from $51.00 to $62.00 and gave the stock an “outperform” rating in a report on Tuesday, March 17th. Argus upped their price objective on shares of Devon Energy from $41.00 to $51.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Zacks Research upgraded shares of Devon Energy from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. Finally, Roth Mkm restated a “buy” rating and issued a $50.00 price objective on shares of Devon Energy in a report on Thursday, February 19th. 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $51.39.

Devon Energy Stock Performance

NYSE DVN opened at $49.91 on Wednesday. The company has a market cap of $31.02 billion, a P/E ratio of 11.97, a P/E/G ratio of 0.97 and a beta of 0.47. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.98 and a quick ratio of 0.90. The stock has a 50-day moving average of $45.58 and a two-hundred day moving average of $38.97. Devon Energy Corporation has a 1-year low of $25.89 and a 1-year high of $52.71.

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

Devon Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Friday, March 13th. Devon Energy’s dividend payout ratio (DPR) is presently 23.02%.

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.