D.A. Davidson & CO. Purchases 141,688 Shares of Devon Energy Corporation (NYSE:DVN)

D.A. Davidson & CO. boosted its holdings in shares of Devon Energy Corporation (NYSE:DVN - Free Report) by 70.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 341,790 shares of the energy company's stock after buying an additional 141,688 shares during the quarter. D.A. Davidson & CO. owned approximately 0.05% of Devon Energy worth $12,783,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Resona Asset Management Co. Ltd. acquired a new stake in Devon Energy during the fourth quarter worth approximately $5,967,000. Cantor Fitzgerald Investment Advisors L.P. increased its stake in shares of Devon Energy by 10.8% during the first quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 272,990 shares of the energy company's stock worth $10,210,000 after purchasing an additional 26,519 shares during the period. Merit Financial Group LLC increased its stake in shares of Devon Energy by 209.5% during the first quarter. Merit Financial Group LLC now owns 22,679 shares of the energy company's stock worth $848,000 after purchasing an additional 15,351 shares during the period. Aviva PLC boosted its stake in Devon Energy by 767.3% in the 4th quarter. Aviva PLC now owns 376,999 shares of the energy company's stock valued at $12,339,000 after purchasing an additional 333,530 shares during the period. Finally, Autumn Glory Partners LLC grew its holdings in Devon Energy by 93.6% in the 1st quarter. Autumn Glory Partners LLC now owns 41,368 shares of the energy company's stock valued at $1,547,000 after buying an additional 20,000 shares in the last quarter. Institutional investors own 69.72% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on DVN shares. Piper Sandler dropped their target price on Devon Energy from $56.00 to $53.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. Raymond James Financial set a $40.00 price objective on shares of Devon Energy in a research note on Monday, April 21st. JPMorgan Chase & Co. decreased their target price on shares of Devon Energy from $48.00 to $42.00 and set a "neutral" rating on the stock in a research report on Thursday, March 13th. Wells Fargo & Company lowered their target price on shares of Devon Energy from $46.00 to $41.00 and set an "overweight" rating on the stock in a report on Monday, June 16th. Finally, Barclays increased their price target on Devon Energy from $38.00 to $40.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 7th. Ten equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Devon Energy has a consensus rating of "Moderate Buy" and an average price target of $43.50.

Devon Energy Price Performance

NYSE:DVN traded down $0.21 on Friday, hitting $33.20. The company had a trading volume of 2,849,156 shares, compared to its average volume of 8,849,039. Devon Energy Corporation has a 52 week low of $25.89 and a 52 week high of $49.35. The company has a current ratio of 1.08, a quick ratio of 0.99 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $21.32 billion, a price-to-earnings ratio of 7.56, a PEG ratio of 2.49 and a beta of 1.02. The firm has a 50 day moving average of $32.37 and a two-hundred day moving average of $33.40.

Devon Energy (NYSE:DVN - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The energy company reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.06). Devon Energy had a net margin of 16.60% and a return on equity of 21.90%. The firm had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.31 billion. During the same period in the prior year, the company earned $1.16 EPS. The business's quarterly revenue was up 23.8% compared to the same quarter last year. On average, research analysts anticipate that Devon Energy Corporation will post 4.85 earnings per share for the current year.

Devon Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.89%. The ex-dividend date of this dividend was Friday, June 13th. Devon Energy's payout ratio is presently 21.87%.

Devon Energy Profile

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.