Cyndeo Wealth Partners LLC Boosts Holdings in Devon Energy Corporation $DVN

Cyndeo Wealth Partners LLC boosted its holdings in Devon Energy Corporation (NYSE:DVN) by 5.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 225,812 shares of the energy company’s stock after purchasing an additional 11,305 shares during the quarter. Cyndeo Wealth Partners LLC’s holdings in Devon Energy were worth $8,272,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in DVN. Allianz Asset Management GmbH boosted its position in shares of Devon Energy by 4.3% during the third quarter. Allianz Asset Management GmbH now owns 833,155 shares of the energy company’s stock worth $29,210,000 after acquiring an additional 33,974 shares during the last quarter. Greatmark Investment Partners Inc. increased its holdings in Devon Energy by 5.6% in the 3rd quarter. Greatmark Investment Partners Inc. now owns 571,925 shares of the energy company’s stock valued at $20,052,000 after acquiring an additional 30,435 shares during the last quarter. Canada Post Corp Registered Pension Plan increased its holdings in Devon Energy by 298.1% in the 3rd quarter. Canada Post Corp Registered Pension Plan now owns 42,351 shares of the energy company’s stock valued at $1,585,000 after acquiring an additional 31,713 shares during the last quarter. Investors Research Corp lifted its stake in Devon Energy by 13,787.5% in the 4th quarter. Investors Research Corp now owns 27,775 shares of the energy company’s stock worth $1,017,000 after purchasing an additional 27,575 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in Devon Energy by 5.0% in the 3rd quarter. Victory Capital Management Inc. now owns 11,845,958 shares of the energy company’s stock worth $415,319,000 after purchasing an additional 560,652 shares in the last quarter. 69.72% of the stock is owned by hedge funds and other institutional investors.

Devon Energy Stock Down 0.0%

Shares of NYSE:DVN opened at $48.79 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.90 and a debt-to-equity ratio of 0.48. Devon Energy Corporation has a 12 month low of $25.89 and a 12 month high of $49.83. The company has a 50-day moving average price of $42.50 and a 200 day moving average price of $37.66. The company has a market cap of $30.25 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 1.29 and a beta of 0.56.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, February 17th. The energy company reported $0.82 earnings per share for the quarter, topping 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 company had revenue of $17.19 billion for the quarter, compared to analysts’ expectations of $3.67 billion. During the same period in the previous year, the firm posted $1.10 earnings per share. The firm’s revenue for the quarter was down 6.4% on a year-over-year basis. As a group, equities research analysts predict that Devon Energy Corporation will post 4.85 earnings per share for the current year.

Devon Energy Announces Dividend

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

Wall Street Analyst Weigh In

DVN has been the subject of a number of research analyst reports. Zacks Research upgraded Devon Energy from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Jefferies Financial Group increased their price target on Devon Energy from $36.00 to $44.00 in a research note on Monday, March 9th. Barclays raised their price target on Devon Energy from $52.00 to $54.00 and gave the company an “overweight” rating in a report on Monday, March 16th. Weiss Ratings raised Devon Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, January 28th. Finally, BMO Capital Markets upped their price objective on Devon Energy from $45.00 to $55.00 and gave the stock an “outperform” rating in a report on Tuesday, March 3rd. Twenty-three investment 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.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $49.37.

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.