Texas Bank & Trust Co Invests $360,000 in Devon Energy Co. (NYSE:DVN)

Texas Bank & Trust Co acquired a new stake in Devon Energy Co. (NYSE:DVN - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 11,000 shares of the energy company's stock, valued at approximately $360,000.

Several other institutional investors have also recently bought and sold shares of DVN. Hurley Capital LLC acquired a new position in Devon Energy in the fourth quarter valued at approximately $26,000. Accredited Wealth Management LLC bought a new position in Devon Energy during the fourth quarter worth about $28,000. Cromwell Holdings LLC raised its position in shares of Devon Energy by 98.0% in the fourth quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company's stock valued at $40,000 after purchasing an additional 598 shares during the period. Sierra Ocean LLC acquired a new stake in Devon Energy during the 4th quarter worth approximately $43,000. Finally, Endeavor Private Wealth Inc. acquired a new position in shares of Devon Energy during the 4th quarter worth approximately $52,000. Institutional investors own 69.72% of the company's stock.

Devon Energy Stock Performance

NYSE DVN traded down $0.35 during trading hours on Thursday, reaching $31.15. 6,813,861 shares of the company were exchanged, compared to its average volume of 8,616,815. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $20.00 billion, a P/E ratio of 6.83, a P/E/G ratio of 1.20 and a beta of 1.00. Devon Energy Co. has a 1 year low of $25.89 and a 1 year high of $49.39. The business's 50 day simple moving average is $32.37 and its 200-day simple moving average is $34.44.

Devon Energy (NYSE:DVN - Get Free Report) last issued its quarterly 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). Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. The company had revenue of $4.45 billion for the quarter, compared to analysts' expectations of $4.31 billion. During the same quarter in the previous year, the business earned $1.16 EPS. The company's revenue for the quarter was up 23.8% on a year-over-year basis. On average, equities research analysts expect that Devon Energy Co. will post 4.85 earnings per share for the current year.

Devon Energy Announces Dividend

The company 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 $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date is Friday, June 13th. Devon Energy's dividend payout ratio is currently 21.87%.

Analyst Upgrades and Downgrades

Several research analysts have commented on DVN shares. Mizuho lowered their price objective on shares of Devon Energy from $46.00 to $43.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Wall Street Zen raised shares of Devon Energy from a "sell" rating to a "hold" rating in a research note on Thursday, May 15th. Piper Sandler lowered their target price on Devon Energy from $56.00 to $53.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. Truist Financial upped their price objective on shares of Devon Energy from $42.00 to $44.00 and gave the company a "hold" rating in a report on Thursday, February 20th. Finally, The Goldman Sachs Group lifted their price target on shares of Devon Energy from $38.00 to $43.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Ten research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $43.83.

About Devon Energy

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.