White Knight Strategic Wealth Advisors LLC Purchases 17,312 Shares of Devon Energy Co. (NYSE:DVN)

White Knight Strategic Wealth Advisors LLC increased its position in Devon Energy Co. (NYSE:DVN - Free Report) by 79.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,104 shares of the energy company's stock after buying an additional 17,312 shares during the quarter. White Knight Strategic Wealth Advisors LLC's holdings in Devon Energy were worth $1,280,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. USS Investment Management Ltd lifted its holdings in shares of Devon Energy by 173.7% in the 4th quarter. USS Investment Management Ltd now owns 177,086 shares of the energy company's stock worth $5,799,000 after acquiring an additional 112,386 shares during the last quarter. William B. Walkup & Associates Inc. raised its position in Devon Energy by 3.7% in the 4th quarter. William B. Walkup & Associates Inc. now owns 22,979 shares of the energy company's stock worth $752,000 after purchasing an additional 830 shares during the period. Woodline Partners LP purchased a new position in Devon Energy in the 4th quarter worth $1,906,000. iSAM Funds UK Ltd bought a new stake in Devon Energy in the fourth quarter worth $1,006,000. Finally, Sourcerock Group LLC purchased a new stake in Devon Energy during the fourth quarter valued at about $25,693,000. Institutional investors own 69.72% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on DVN shares. JPMorgan Chase & Co. reduced their price objective on Devon Energy from $48.00 to $42.00 and set a "neutral" rating on the stock in a research note on Thursday, March 13th. Raymond James set a $40.00 price target on Devon Energy in a research report on Monday, April 21st. Citigroup decreased their price target on Devon Energy from $46.00 to $43.00 and set a "buy" rating on the stock in a research note on Friday, April 4th. Cowen lowered Devon Energy to a "hold" rating and dropped their price objective for the company from $46.00 to $45.00 in a research note on Tuesday, February 18th. Finally, Piper Sandler cut their target price 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. Ten investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Devon Energy presently has an average rating of "Moderate Buy" and a consensus target price of $43.83.

Devon Energy Trading Down 1.8%

DVN opened at $32.66 on Tuesday. 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 52 week low of $25.89 and a 52 week high of $50.24. The stock has a market cap of $20.97 billion, a PE ratio of 7.16, a PEG ratio of 1.20 and a beta of 1.00. The business has a 50 day moving average of $32.46 and a 200-day moving average of $34.48.

Devon Energy (NYSE:DVN - Get Free Report) last announced its earnings results on Tuesday, May 6th. The energy company reported $1.21 EPS 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 net margin of 18.14% and a return on equity of 22.52%. The business's quarterly revenue was up 23.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.16 EPS. Equities research analysts predict that Devon Energy Co. will post 4.85 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors 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 2.94%. The ex-dividend date is Friday, June 13th. Devon Energy's payout ratio is currently 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.

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