Michels Family Financial LLC Acquires New Holdings in Devon Energy Co. (NYSE:DVN)

Michels Family Financial LLC purchased a new position in shares of Devon Energy Co. (NYSE:DVN - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 11,007 shares of the energy company's stock, valued at approximately $360,000.

Several other large investors have also recently added to or reduced their stakes in the business. Merit Financial Group LLC acquired a new position in shares of Devon Energy in the 4th quarter worth $240,000. MassMutual Private Wealth & Trust FSB boosted its position in shares of Devon Energy by 28.0% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 4,477 shares of the energy company's stock worth $147,000 after buying an additional 980 shares during the period. Ballentine Partners LLC boosted its position in shares of Devon Energy by 4.2% in the fourth quarter. Ballentine Partners LLC now owns 10,129 shares of the energy company's stock worth $332,000 after buying an additional 404 shares during the period. Dakota Wealth Management boosted its position in shares of Devon Energy by 260.8% in the fourth quarter. Dakota Wealth Management now owns 19,230 shares of the energy company's stock worth $629,000 after buying an additional 13,900 shares during the period. Finally, Veracity Capital LLC boosted its position in Devon Energy by 23.2% during the fourth quarter. Veracity Capital LLC now owns 10,654 shares of the energy company's stock valued at $349,000 after purchasing an additional 2,004 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Devon Energy Stock Up 0.5%

Shares of DVN traded up $0.15 on Thursday, hitting $31.01. The company's stock had a trading volume of 4,883,702 shares, compared to its average volume of 8,646,521. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. Devon Energy Co. has a fifty-two week low of $25.89 and a fifty-two week high of $49.35. The firm's fifty day moving average price is $31.90 and its 200-day moving average price is $34.16. The firm has a market capitalization of $19.91 billion, a price-to-earnings ratio of 6.80, a P/E/G ratio of 1.20 and a beta of 1.00.

Devon Energy (NYSE:DVN - Get Free Report) last released its earnings results 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). The company 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%. The business's revenue was up 23.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.16 EPS. On average, equities research analysts expect that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend is Friday, June 13th. Devon Energy's dividend payout ratio is presently 21.87%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Williams Trading set a $50.00 price objective on Devon Energy in a research report on Wednesday, March 5th. Truist Financial raised their target price on Devon Energy from $42.00 to $44.00 and gave the company a "hold" rating in a report on Thursday, February 20th. Barclays boosted their price objective 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. The Goldman Sachs Group boosted their price objective on Devon Energy from $38.00 to $43.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Finally, Mizuho cut their price objective on Devon Energy from $46.00 to $43.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Ten equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Devon Energy currently has a consensus rating of "Moderate Buy" and an average price target of $43.71.

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.