Devon Energy Corporation $DVN Shares Bought by Philip James Wealth Mangement LLC

Key Points

• Philip James Wealth Management LLC raised its stake in Devon Energy by 43.8% in Q4, buying an additional 49,115 shares to hold 161,368 shares valued at $5.911 million.
• Institutional ownership stands at 69.72%, and several large funds (notably Adage, AQR, Victory Capital and Dimensional) significantly increased positions — Adage added 2,083,600 shares (+83.9%) — indicating strong institutional accumulation.
• Devon recently beat EPS estimates ($0.82 vs. $0.81), has a market cap of $30.76B and a P/E of 11.87, pays a $0.24 quarterly dividend (1.9% yield), and carries a consensus analyst rating of "Moderate Buy" with an average target of $51.36.

Philip James Wealth Mangement LLC raised its holdings in Devon Energy Corporation (NYSE:DVN - Free Report) by 43.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 161,368 shares of the energy company's stock after purchasing an additional 49,115 shares during the period. Philip James Wealth Mangement LLC's holdings in Devon Energy were worth $5,911,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Victory Capital Management Inc. raised its position in shares of Devon Energy by 5.0% during 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 during the last quarter. Dimensional Fund Advisors LP grew its holdings in 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 valued at $327,938,000 after buying an additional 552,068 shares during the last quarter. AQR Capital Management LLC increased its position in Devon Energy by 29.3% during the third quarter. AQR Capital Management LLC now owns 8,223,219 shares of the energy company's stock worth $288,306,000 after buying an additional 1,862,720 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of Devon Energy by 5.5% in the third quarter. Thrivent Financial for Lutherans now owns 4,712,190 shares of the energy company's stock worth $165,210,000 after acquiring an additional 246,179 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. raised its holdings in shares of Devon Energy by 83.9% in 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. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Devon Energy Stock Performance

Devon Energy stock opened at $49.50 on Friday. The stock has a fifty day moving average price of $45.15 and a 200 day moving average price of $38.71. Devon Energy Corporation has a 52 week low of $25.89 and a 52 week high of $52.71. The firm has a market capitalization of $30.76 billion, a P/E ratio of 11.87, a PEG ratio of 0.97 and a beta of 0.47. 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 (NYSE:DVN - Get Free Report) last issued its quarterly earnings results on Tuesday, February 17th. The energy company reported $0.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.81 by $0.01. The firm had revenue of $4.12 billion for the quarter, compared to analyst estimates of $3.67 billion. Devon Energy had a return on equity of 16.28% and a net margin of 15.37%.The firm's quarterly revenue was down 6.4% on a year-over-year basis. During the same period last year, the company earned $1.10 EPS. Equities 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 Tuesday, March 31st. Investors of record on Friday, March 13th were given a $0.24 dividend. The ex-dividend date of this dividend was Friday, March 13th. This represents a $0.96 annualized dividend and a dividend yield of 1.9%. Devon Energy's dividend payout ratio (DPR) is currently 23.02%.

Analyst Ratings Changes

DVN has been the topic of a number of analyst reports. Barclays increased their price objective on Devon Energy from $52.00 to $54.00 and gave the company an "overweight" rating in a research note on Monday, March 16th. Morgan Stanley boosted their target price on shares of Devon Energy from $46.00 to $59.00 and gave the company an "overweight" rating in a research note on Friday, March 27th. UBS Group raised their price target on shares of Devon Energy from $50.00 to $55.00 and gave the stock a "buy" rating in a research note on Thursday, March 5th. Argus lifted their price target 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. Finally, Scotiabank raised shares of Devon Energy to a "hold" rating in a research report on Friday, March 27th. One equities research 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, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $51.36.

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.

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