Twinbeech Capital LP Invests $523,000 in Devon Energy Co. (NYSE:DVN)

Twinbeech Capital LP acquired a new position in shares of Devon Energy Co. (NYSE:DVN - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 15,967 shares of the energy company's stock, valued at approximately $523,000.

Other institutional investors also recently modified their holdings of the company. Hurley Capital LLC acquired a new position in shares of Devon Energy during the 4th quarter worth about $26,000. Accredited Wealth Management LLC bought a new position in Devon Energy in the 4th quarter valued at about $28,000. Cromwell Holdings LLC raised its holdings in Devon Energy by 98.0% in the 4th quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company's stock valued at $40,000 after acquiring an additional 598 shares during the period. Sierra Ocean LLC acquired a new stake in Devon Energy during the fourth quarter worth approximately $43,000. Finally, Endeavor Private Wealth Inc. bought a new stake in shares of Devon Energy during the fourth quarter worth approximately $52,000. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on DVN. Mizuho reduced their price objective on Devon Energy from $46.00 to $43.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Barclays boosted their price objective on Devon Energy from $38.00 to $40.00 and gave the stock an "equal weight" rating in a 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 report on Thursday, May 15th. Truist Financial boosted their price objective on Devon Energy from $42.00 to $44.00 and gave the stock a "hold" rating in a report on Thursday, February 20th. Finally, Wells Fargo & Company boosted their price objective on Devon Energy from $44.00 to $46.00 and gave the stock an "overweight" rating in a report on Wednesday, May 14th. Ten investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $43.71.

Devon Energy Price Performance

NYSE DVN traded down $0.26 on Wednesday, hitting $31.09. 1,558,225 shares of the company's stock were exchanged, compared to its average volume of 8,626,735. The stock has a 50-day moving average of $32.01 and a 200-day moving average of $34.18. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57. Devon Energy Co. has a 52 week low of $25.89 and a 52 week high of $49.35. The stock has a market cap of $19.96 billion, a price-to-earnings ratio of 6.83, 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 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 business had revenue of $4.45 billion for the quarter, compared to the consensus estimate of $4.31 billion. During the same quarter in the previous year, the company earned $1.16 earnings per share. The firm's revenue for the quarter was up 23.8% on a year-over-year basis. Analysts expect that Devon Energy Co. will post 4.85 earnings per share 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 paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend is Friday, June 13th. Devon Energy's payout ratio is presently 21.87%.

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.