Devon Energy Co. (NYSE:DVN) Shares Purchased by Capital Advisors Inc. OK

Capital Advisors Inc. OK grew its stake in Devon Energy Co. (NYSE:DVN - Free Report) by 9.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 827,196 shares of the energy company's stock after acquiring an additional 71,717 shares during the quarter. Capital Advisors Inc. OK owned about 0.13% of Devon Energy worth $37,472,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Pacer Advisors Inc. raised its stake in Devon Energy by 1,279.7% during the fourth quarter. Pacer Advisors Inc. now owns 6,145,605 shares of the energy company's stock worth $278,396,000 after purchasing an additional 5,700,167 shares during the period. T. Rowe Price Investment Management Inc. raised its position in shares of Devon Energy by 96.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,608,577 shares of the energy company's stock valued at $344,984,000 after buying an additional 2,752,752 shares during the period. J.P. Morgan Private Wealth Advisors LLC acquired a new position in Devon Energy in the third quarter valued at approximately $113,793,000. Morgan Stanley grew its position in Devon Energy by 23.6% in the third quarter. Morgan Stanley now owns 11,647,104 shares of the energy company's stock worth $555,567,000 after acquiring an additional 2,220,194 shares during the period. Finally, International Assets Investment Management LLC increased its stake in Devon Energy by 3,885.4% during the fourth quarter. International Assets Investment Management LLC now owns 1,695,206 shares of the energy company's stock worth $76,793,000 after acquiring an additional 1,652,671 shares during the last quarter. Hedge funds and other institutional investors own 69.72% of the company's stock.

Devon Energy Stock Down 0.9 %

Shares of DVN stock traded down $0.48 during trading hours on Friday, reaching $53.42. 9,808,666 shares of the stock were exchanged, compared to its average volume of 7,282,425. The business's fifty day moving average is $46.84 and its two-hundred day moving average is $45.74. The firm has a market capitalization of $33.92 billion, a P/E ratio of 9.16 and a beta of 2.19. Devon Energy Co. has a 12-month low of $40.47 and a 12-month high of $56.19. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.07 and a quick ratio of 0.99.

Devon Energy (NYSE:DVN - Get Free Report) last announced its quarterly earnings data on Tuesday, February 27th. The energy company reported $1.41 EPS for the quarter, beating analysts' consensus estimates of $1.39 by $0.02. The company had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $3.88 billion. Devon Energy had a net margin of 24.56% and a return on equity of 31.72%. The company's quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.66 EPS. As a group, research analysts expect that Devon Energy Co. will post 5.01 EPS for the current fiscal year.

Devon Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a dividend of $0.44 per share. The ex-dividend date was Thursday, March 14th. This represents a $1.76 annualized dividend and a dividend yield of 3.29%. Devon Energy's dividend payout ratio is currently 15.09%.

Analyst Ratings Changes

DVN has been the topic of several recent analyst reports. Truist Financial decreased their price target on Devon Energy from $69.00 to $66.00 and set a "buy" rating on the stock in a research note on Friday, April 5th. Wells Fargo & Company raised shares of Devon Energy from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $46.00 to $59.00 in a research note on Monday, April 1st. Mizuho decreased their price objective on shares of Devon Energy from $54.00 to $53.00 and set a "buy" rating on the stock in a report on Thursday, January 11th. UBS Group lifted their target price on shares of Devon Energy from $48.00 to $57.00 and gave the company a "neutral" rating in a report on Wednesday. Finally, Raymond James decreased their price target on Devon Energy from $53.00 to $52.00 and set an "outperform" rating on the stock in a research note on Wednesday, January 24th. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $57.83.

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.