iSAM Funds UK Ltd Buys New Shares in Devon Energy Co. (NYSE:DVN)

iSAM Funds UK Ltd bought a new stake in shares of Devon Energy Co. (NYSE:DVN - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 30,725 shares of the energy company's stock, valued at approximately $1,006,000.

A number of other institutional investors also recently modified their holdings of the stock. Sourcerock Group LLC acquired a new position in shares of Devon Energy during the 4th quarter valued at $25,693,000. Sovereign s Capital Management LLC acquired a new position in shares of Devon Energy during the 4th quarter valued at $987,000. Twinbeech Capital LP acquired a new position in shares of Devon Energy during the 4th quarter valued at $523,000. Two Sigma Investments LP acquired a new position in shares of Devon Energy during the 4th quarter valued at $256,000. Finally, Texas Bank & Trust Co acquired a new position in shares of Devon Energy during the 4th quarter valued at $360,000. Institutional investors and hedge funds own 69.72% of the company's stock.

Devon Energy Stock Performance

NYSE DVN opened at $32.66 on Tuesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.04. The company has a market capitalization of $20.97 billion, a PE ratio of 7.16, a price-to-earnings-growth ratio of 1.20 and a beta of 1.00. Devon Energy Co. has a 52-week low of $25.89 and a 52-week high of $50.24. The company has a 50-day simple moving average of $32.46 and a 200 day simple moving average of $34.48.

Devon Energy (NYSE:DVN - Get Free Report) last issued its earnings results on Tuesday, May 6th. The energy company reported $1.21 earnings per share for the quarter, missing analysts' consensus estimates of $1.27 by ($0.06). The business had revenue of $4.45 billion for the quarter, compared to the consensus estimate of $4.31 billion. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. Devon Energy's revenue for the quarter was up 23.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.16 EPS. On average, research analysts predict that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a dividend of $0.24 per share. The ex-dividend date is Friday, June 13th. This represents a $0.96 dividend on an annualized basis and a yield of 2.94%. Devon Energy's dividend payout ratio is presently 21.87%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on DVN shares. Piper Sandler lowered their price objective on shares of Devon Energy from $56.00 to $53.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. Scotiabank lowered their price objective on shares of Devon Energy from $45.00 to $35.00 and set a "sector outperform" rating on the stock in a report on Friday, April 11th. StockNews.com upgraded shares of Devon Energy from a "sell" rating to a "hold" rating in a report on Thursday, May 15th. Citigroup lowered their price objective on shares of Devon Energy from $46.00 to $43.00 and set a "buy" rating on the stock in a report on Friday, April 4th. Finally, Truist Financial upped their price objective on shares of Devon Energy from $42.00 to $44.00 and gave the stock a "hold" rating in a report on Thursday, February 20th. Ten research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $43.83.

Devon Energy Company 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.

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