WINTON GROUP Ltd Has $22.83 Million Stock Position in Devon Energy Corporation $DVN

Key Points

• WINTON GROUP increased its stake in Devon Energy by 28.2% to 651,291 shares valued at $22.83 million, making DVN its 7th-largest holding; about 69.72% of Devon is held by institutional investors.
• Devon declared a quarterly dividend of $0.24 (ex-dividend March 13, payable March 31), which annualizes to $0.96 for a yield of about 2.2% and a payout ratio near 23.0%.
• Devon slightly beat EPS estimates (reported $0.82 vs. $0.81 expected) while revenue was down 6.4% year-over-year; analysts have an average rating of Moderate Buy with a $48 average target.

WINTON GROUP Ltd grew its position in shares of Devon Energy Corporation (NYSE:DVN - Free Report) by 28.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 651,291 shares of the energy company's stock after purchasing an additional 143,314 shares during the quarter. Devon Energy makes up 0.9% of WINTON GROUP Ltd's holdings, making the stock its 7th biggest holding. WINTON GROUP Ltd owned approximately 0.10% of Devon Energy worth $22,834,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in DVN. Woodline Partners LP grew its holdings in Devon Energy by 98.8% during the 1st quarter. Woodline Partners LP now owns 115,780 shares of the energy company's stock worth $4,330,000 after acquiring an additional 57,555 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Devon Energy during the second quarter worth $403,000. Atlantic Union Bankshares Corp acquired a new position in shares of Devon Energy during the second quarter worth $343,000. Resona Asset Management Co. Ltd. grew its stake in shares of Devon Energy by 6.0% in the second quarter. Resona Asset Management Co. Ltd. now owns 203,589 shares of the energy company's stock worth $6,490,000 after purchasing an additional 11,602 shares during the last quarter. Finally, Wedbush Securities Inc. increased its holdings in Devon Energy by 2.3% in the second quarter. Wedbush Securities Inc. now owns 27,346 shares of the energy company's stock valued at $870,000 after purchasing an additional 611 shares during the period. 69.72% of the stock is currently owned by institutional investors.

Devon Energy Stock Down 0.0%

Shares of Devon Energy stock opened at $44.51 on Monday. The stock's 50-day moving average is $40.44 and its 200 day moving average is $36.90. Devon Energy Corporation has a one year low of $25.89 and a one year high of $46.15. The firm has a market cap of $27.60 billion, a price-to-earnings ratio of 10.67, a PEG ratio of 4.50 and a beta of 0.56. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.98 and a quick ratio of 0.90.

Devon Energy (NYSE:DVN - Get Free Report) last issued its earnings results on Tuesday, February 17th. The energy company reported $0.82 earnings per share for the quarter, topping analysts' consensus estimates of $0.81 by $0.01. Devon Energy had a return on equity of 16.28% and a net margin of 15.37%.The business had revenue of $17.19 billion during the quarter, compared to the consensus estimate of $3.67 billion. During the same period in the previous year, the company posted $1.10 earnings per share. The firm's revenue for the quarter was down 6.4% on a year-over-year basis. Equities research analysts anticipate that Devon Energy Corporation will post 4.85 EPS for the current year.

Devon Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be paid a $0.24 dividend. The ex-dividend date is Friday, March 13th. This represents a $0.96 annualized dividend and a dividend yield of 2.2%. Devon Energy's payout ratio is currently 23.02%.

Analyst Ratings Changes

DVN has been the subject of several analyst reports. Mizuho set a $51.00 target price on Devon Energy in a research report on Tuesday, February 3rd. Sanford C. Bernstein reduced their price target on Devon Energy from $48.00 to $42.00 and set an "outperform" rating on the stock in a research report on Monday, January 5th. Wolfe Research raised their price objective on Devon Energy from $57.00 to $58.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 18th. Piper Sandler lifted their price objective on Devon Energy from $55.00 to $59.00 and gave the stock an "overweight" rating in a research note on Thursday. Finally, TD Cowen upgraded Devon Energy to a "hold" rating in a report on Monday, February 9th. Twenty-three analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $48.00.

Devon Energy Company Profile

Devon Energy Corporation NYSE: DVN is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.

Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.

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