Devon Energy Corporation $DVN Stake Boosted by DSG Capital Advisors LLC

Key Points

• DSG Capital Advisors LLC boosted its stake in Devon Energy by 350.5% in Q4, increasing holdings to 31,083 shares valued at about $1.13 million.
• Multiple brokers have raised price targets and ratings on DVN, leaving the stock with a MarketBeat consensus of "Moderate Buy" and an average target of $53.79.
• Devon slightly beat quarterly estimates with $0.82 EPS and $4.12 billion in revenue, paid a $0.24 quarterly dividend (2.1% yield), although revenue fell 6.4% year-over-year.

DSG Capital Advisors LLC grew its stake in shares of Devon Energy Corporation (NYSE:DVN - Free Report) by 350.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,083 shares of the energy company's stock after acquiring an additional 24,183 shares during the period. DSG Capital Advisors LLC's holdings in Devon Energy were worth $1,129,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. PFS Partners LLC purchased a new position in shares of Devon Energy during the 3rd quarter valued at $25,000. First Horizon Corp purchased a new position in shares of Devon Energy during the 3rd quarter valued at $26,000. Ameriflex Group Inc. grew its holdings in shares of Devon Energy by 702.0% during the 3rd quarter. Ameriflex Group Inc. now owns 802 shares of the energy company's stock valued at $28,000 after acquiring an additional 702 shares in the last quarter. Accredited Wealth Management LLC grew its holdings in shares of Devon Energy by 61.6% during the 3rd quarter. Accredited Wealth Management LLC now owns 808 shares of the energy company's stock valued at $28,000 after acquiring an additional 308 shares in the last quarter. Finally, Olistico Wealth LLC purchased a new position in shares of Devon Energy during the 4th quarter valued at $31,000. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on DVN. Raymond James Financial raised their price objective on shares of Devon Energy from $44.00 to $52.00 and gave the company an "outperform" rating in a research report on Wednesday, February 11th. Mizuho raised their price objective on shares of Devon Energy from $51.00 to $62.00 and gave the company an "outperform" rating in a research report on Tuesday, March 17th. Royal Bank Of Canada raised their price objective on shares of Devon Energy from $46.00 to $59.00 and gave the company a "sector perform" rating in a research report on Wednesday, April 8th. Weiss Ratings raised shares of Devon Energy from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, January 28th. Finally, Roth Mkm reaffirmed a "buy" rating and issued a $50.00 price objective on shares of Devon Energy in a research note on Thursday, February 19th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $53.79.

Devon Energy Stock Up 1.5%

DVN stock opened at $44.91 on Tuesday. 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 1 year low of $29.06 and a 1 year high of $52.71. The company has a fifty day simple moving average of $46.40 and a 200 day simple moving average of $39.67. The firm has a market cap of $27.91 billion, a PE ratio of 10.77, a PEG ratio of 0.80 and a beta of 0.47.

Devon Energy (NYSE:DVN - Get Free Report) last released its quarterly earnings data on Tuesday, February 17th. The energy company reported $0.82 earnings per share (EPS) for the quarter, beating 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 business had revenue of $4.12 billion during the quarter, compared to analyst estimates of $3.67 billion. During the same quarter in the previous year, the business earned $1.10 EPS. Devon Energy's quarterly revenue was down 6.4% compared to the same quarter last year. Sell-side analysts anticipate that Devon Energy Corporation will post 4.94 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, March 13th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Friday, March 13th. Devon Energy's payout ratio is presently 23.02%.

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.

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