KMG Fiduciary Partners LLC grew its position in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 9.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 103,657 shares of the energy company's stock after acquiring an additional 8,671 shares during the period. KMG Fiduciary Partners LLC's holdings in Devon Energy were worth $3,877,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in DVN. Hurley Capital LLC purchased a new stake in Devon Energy in the fourth quarter worth $26,000. Accredited Wealth Management LLC bought a new stake in shares of Devon Energy during the 4th quarter valued at $28,000. Cromwell Holdings LLC grew its position in shares of Devon Energy by 98.0% in the 4th quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company's stock worth $40,000 after buying an additional 598 shares during the period. Sierra Ocean LLC purchased a new stake in shares of Devon Energy in the 4th quarter worth about $43,000. Finally, Thompson Investment Management Inc. increased its stake in shares of Devon Energy by 60.0% in the 4th quarter. Thompson Investment Management Inc. now owns 1,600 shares of the energy company's stock worth $52,000 after acquiring an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 69.72% of the company's stock.
Analysts Set New Price Targets
DVN has been the topic of several research reports. Piper Sandler dropped their price objective on shares of Devon Energy from $56.00 to $53.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 13th. Susquehanna lowered their target price on shares of Devon Energy from $52.00 to $41.00 and set a "positive" rating for the company in a report on Tuesday, April 22nd. Mizuho cut their price target on Devon Energy from $46.00 to $43.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Raymond James set a $40.00 price objective on Devon Energy in a research report on Monday, April 21st. Finally, Barclays boosted their target price on Devon Energy from $38.00 to $40.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 7th. Ten investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $43.71.
Check Out Our Latest Research Report on DVN
Devon Energy Stock Performance
Shares of NYSE DVN traded up $0.37 during midday trading on Monday, hitting $32.66. 5,318,588 shares of the stock traded hands, compared to its average volume of 8,679,769. The firm has a market capitalization of $20.97 billion, a P/E ratio of 7.16, a PEG ratio of 1.20 and a beta of 1.02. Devon Energy Co. has a one year low of $25.89 and a one year high of $49.35. 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 firm has a 50-day moving average of $31.09 and a two-hundred day moving average of $33.74.
Devon Energy (NYSE:DVN - Get Free Report) last posted 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). Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The firm had revenue of $4.45 billion during the quarter, compared to the consensus estimate of $4.31 billion. During the same period in the prior year, the company posted $1.16 EPS. The firm's revenue was up 23.8% compared to the same quarter last year. On average, equities analysts forecast that Devon Energy Co. will post 4.85 EPS for the current fiscal year.
Devon Energy Announces Dividend
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 issued 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 currently 21.87%.
About Devon Energy
(
Free Report)
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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