Consolidated Planning Corp Takes $3.65 Million Position in Devon Energy Co. (NYSE:DVN)

Consolidated Planning Corp acquired a new stake in shares of Devon Energy Co. (NYSE:DVN - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 80,482 shares of the energy company's stock, valued at approximately $3,646,000.

Other institutional investors have also recently modified their holdings of the company. Avior Wealth Management LLC boosted its holdings in Devon Energy by 4.9% during the 3rd quarter. Avior Wealth Management LLC now owns 4,406 shares of the energy company's stock valued at $210,000 after acquiring an additional 207 shares during the period. Czech National Bank boosted its holdings in Devon Energy by 47.4% during the 3rd quarter. Czech National Bank now owns 111,982 shares of the energy company's stock valued at $5,342,000 after acquiring an additional 36,002 shares during the period. Asset Management One Co. Ltd. boosted its holdings in Devon Energy by 0.6% during the 3rd quarter. Asset Management One Co. Ltd. now owns 254,152 shares of the energy company's stock valued at $12,123,000 after acquiring an additional 1,617 shares during the period. Patriot Financial Group Insurance Agency LLC boosted its holdings in Devon Energy by 105.3% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 9,518 shares of the energy company's stock valued at $454,000 after acquiring an additional 4,882 shares during the period. Finally, Oak Harbor Wealth Partners LLC boosted its holdings in Devon Energy by 9.4% during the 3rd quarter. Oak Harbor Wealth Partners LLC now owns 29,561 shares of the energy company's stock valued at $1,410,000 after acquiring an additional 2,545 shares during the period. 69.72% of the stock is currently owned by institutional investors.

Devon Energy Stock Up 0.2 %

Shares of DVN traded up $0.10 on Friday, reaching $52.71. The stock had a trading volume of 4,618,432 shares, compared to its average volume of 6,726,952. The firm has a market capitalization of $33.47 billion, a price-to-earnings ratio of 9.04 and a beta of 2.19. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.99 and a current ratio of 1.07. The company has a 50-day simple moving average of $48.88 and a 200-day simple moving average of $46.18. Devon Energy Co. has a 12-month low of $40.47 and a 12-month high of $55.09.

Devon Energy (NYSE:DVN - Get Free Report) last posted its quarterly earnings data on Tuesday, February 27th. The energy company reported $1.41 earnings per share 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 company had revenue of $4.15 billion during the quarter, compared to analyst estimates of $3.88 billion. During the same quarter last year, the company earned $1.66 EPS. The firm's revenue for the quarter was down 3.6% on a year-over-year basis. Sell-side analysts predict that Devon Energy Co. will post 5.25 EPS for the current year.

Devon Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date of this dividend was Thursday, March 14th. Devon Energy's dividend payout ratio (DPR) is presently 15.09%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on DVN. Scotiabank increased their target price on Devon Energy from $53.00 to $67.00 and gave the company a "sector outperform" rating in a report on Thursday, April 11th. Barclays initiated coverage on Devon Energy in a report on Wednesday, April 10th. They set an "equal weight" rating and a $59.00 target price for the company. Piper Sandler increased their price objective on Devon Energy from $59.00 to $60.00 and gave the stock an "overweight" rating in a report on Friday, April 19th. Susquehanna increased their price objective on Devon Energy from $52.00 to $65.00 and gave the stock a "positive" rating in a report on Monday, April 22nd. Finally, Raymond James dropped their price objective on Devon Energy from $53.00 to $52.00 and set an "outperform" rating for the company in a report on Wednesday, January 24th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $58.33.

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.