Sagefield Capital LP Purchases Shares of 288,058 Devon Energy Co. (NYSE:DVN)

Sagefield Capital LP purchased a new stake in shares of Devon Energy Co. (NYSE:DVN - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 288,058 shares of the energy company's stock, valued at approximately $9,428,000. Devon Energy comprises about 1.0% of Sagefield Capital LP's investment portfolio, making the stock its 27th biggest position.

Several other large investors have also recently added to or reduced their stakes in DVN. Scissortail Wealth Management LLC increased its position in shares of Devon Energy by 11,566.8% in the fourth quarter. Scissortail Wealth Management LLC now owns 47,484 shares of the energy company's stock worth $1,554,000 after purchasing an additional 47,077 shares during the period. Shay Capital LLC bought a new position in shares of Devon Energy in the fourth quarter worth $777,000. Siemens Fonds Invest GmbH bought a new position in shares of Devon Energy in the fourth quarter worth $187,000. Shell Asset Management Co. increased its position in shares of Devon Energy by 3.8% in the fourth quarter. Shell Asset Management Co. now owns 132,783 shares of the energy company's stock worth $4,346,000 after purchasing an additional 4,889 shares during the period. Finally, SIR Capital Management L.P. bought a new position in shares of Devon Energy in the fourth quarter worth $8,870,000. Institutional investors own 69.72% of the company's stock.

Devon Energy Price Performance

Shares of NYSE DVN opened at $33.26 on Friday. The firm has a market capitalization of $21.35 billion, a P/E ratio of 7.29, a P/E/G ratio of 1.20 and a beta of 1.00. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. The stock's 50-day simple moving average is $32.50 and its two-hundred day simple moving average is $34.57. Devon Energy Co. has a twelve month low of $25.89 and a twelve month high of $50.24.

Devon Energy (NYSE:DVN - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The energy company reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.06). The company had revenue of $4.45 billion for the quarter, compared to the consensus estimate of $4.31 billion. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. Devon Energy's revenue was up 23.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.16 earnings per share. As a group, equities analysts anticipate that Devon Energy Co. will post 4.85 EPS for the current fiscal year.

Devon Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date is Friday, June 13th. Devon Energy's payout ratio is 21.87%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on DVN shares. Truist Financial lifted their target price on Devon Energy from $42.00 to $44.00 and gave the company a "hold" rating in a research report on Thursday, February 20th. Citigroup cut 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. Royal Bank of Canada cut their price target on Devon Energy from $49.00 to $40.00 and set a "sector perform" rating on the stock in a research note on Monday, April 14th. Piper Sandler cut their price objective on Devon Energy from $56.00 to $53.00 and set an "overweight" rating on the stock in a research note on Tuesday. Finally, Susquehanna decreased their target price on shares of Devon Energy from $52.00 to $41.00 and set a "positive" rating for the company in a research report on Tuesday, April 22nd. Ten research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $43.83.

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.

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