Devon Energy Co. (NYSE:DVN) Shares Sold by Ardevora Asset Management LLP

Ardevora Asset Management LLP trimmed its position in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 68.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 120,435 shares of the energy company's stock after selling 255,778 shares during the period. Ardevora Asset Management LLP's holdings in Devon Energy were worth $5,456,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Pacer Advisors Inc. lifted its position in shares of 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 acquiring an additional 5,700,167 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in shares of Devon Energy during the third quarter worth $113,793,000. Morgan Stanley lifted its position in shares of Devon Energy by 23.6% during 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 in the last quarter. International Assets Investment Management LLC lifted its position in shares of 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 in the last quarter. Finally, Schroder Investment Management Group lifted its position in shares of Devon Energy by 61.0% during the third quarter. Schroder Investment Management Group now owns 2,673,781 shares of the energy company's stock worth $127,539,000 after acquiring an additional 1,013,353 shares in the last quarter. 69.72% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on DVN shares. Truist Financial increased their price objective on Devon Energy from $66.00 to $69.00 and gave the stock a "buy" rating in a research report on Monday. Royal Bank of Canada reiterated a "sector perform" rating and issued a $55.00 price objective on shares of Devon Energy in a research report on Thursday, March 7th. Piper Sandler increased their price objective on Devon Energy from $59.00 to $60.00 and gave the stock an "overweight" rating in a research report on Friday. Wells Fargo & Company upgraded Devon Energy from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $46.00 to $59.00 in a research report on Monday, April 1st. Finally, Raymond James lowered their price objective on Devon Energy from $53.00 to $52.00 and set an "outperform" rating on the stock in a research report on Wednesday, January 24th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $58.28.

Devon Energy Trading Up 0.6 %

Shares of NYSE:DVN traded up $0.30 on Monday, reaching $52.13. 6,361,199 shares of the company traded hands, compared to its average volume of 7,983,792. The business's 50-day simple moving average is $48.09 and its 200 day simple moving average is $45.98. Devon Energy Co. has a 52 week low of $40.47 and a 52 week high of $55.09. The stock has a market capitalization of $33.10 billion, a P/E ratio of 8.94 and a beta of 2.19. The company has a current ratio of 1.07, a quick ratio of 0.99 and a debt-to-equity ratio of 0.46.

Devon Energy (NYSE:DVN - Get Free Report) last announced its quarterly earnings data on Tuesday, February 27th. The energy company reported $1.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.39 by $0.02. Devon Energy had a return on equity of 31.72% and a net margin of 24.56%. The firm had revenue of $4.15 billion for the quarter, compared to analysts' expectations of $3.88 billion. During the same period last year, the firm earned $1.66 earnings per share. The company's revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, equities analysts anticipate that Devon Energy Co. will post 5.14 EPS for the current fiscal year.

Devon Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.38%. Devon Energy's dividend payout ratio (DPR) is currently 15.09%.

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.