Scissortail Wealth Management LLC Raises Stake in Devon Energy Co. (NYSE:DVN)

Scissortail Wealth Management LLC grew its stake in Devon Energy Co. (NYSE:DVN - Free Report) by 11,566.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 47,484 shares of the energy company's stock after acquiring an additional 47,077 shares during the quarter. Scissortail Wealth Management LLC's holdings in Devon Energy were worth $1,554,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Klein Pavlis & Peasley Financial Inc. purchased a new position in Devon Energy during the fourth quarter worth about $782,000. Resona Asset Management Co. Ltd. acquired a new stake in shares of Devon Energy during the 4th quarter worth approximately $5,967,000. New York State Teachers Retirement System raised its position in shares of Devon Energy by 4.5% during the 4th quarter. New York State Teachers Retirement System now owns 736,351 shares of the energy company's stock valued at $24,101,000 after buying an additional 31,520 shares during the period. First Dallas Securities Inc. lifted its holdings in Devon Energy by 31.9% in the fourth quarter. First Dallas Securities Inc. now owns 52,715 shares of the energy company's stock valued at $1,725,000 after acquiring an additional 12,760 shares during the last quarter. Finally, Aviva PLC grew its position in Devon Energy by 767.3% in the fourth quarter. Aviva PLC now owns 376,999 shares of the energy company's stock worth $12,339,000 after acquiring an additional 333,530 shares during the period. Hedge funds and other institutional investors own 69.72% of the company's stock.

Devon Energy Stock Down 0.4%

Shares of NYSE DVN opened at $33.26 on Friday. Devon Energy Co. has a 12-month low of $25.89 and a 12-month high of $50.24. The stock has a market cap of $21.35 billion, a P/E ratio of 7.29, a PEG ratio of 1.20 and a beta of 1.00. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57. The business's fifty day simple moving average is $32.50 and its 200-day simple moving average is $34.57.

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 analysts' consensus estimates of $1.27 by ($0.06). Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The company had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.31 billion. During the same period in the prior year, the business earned $1.16 EPS. Devon Energy's revenue for the quarter was up 23.8% on a year-over-year basis. As a group, equities analysts predict that Devon Energy Co. will post 4.85 EPS for the current fiscal year.

Devon Energy Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have commented on DVN shares. Royal Bank of Canada reduced their target price on Devon Energy from $49.00 to $40.00 and set a "sector perform" rating on the stock in a research report on Monday, April 14th. Morgan Stanley set a $47.00 price objective on shares of Devon Energy and gave the company an "overweight" rating in a report on Wednesday, March 26th. Piper Sandler lowered their target price on shares of Devon Energy from $56.00 to $53.00 and set an "overweight" rating for the company in a research note on Tuesday. JPMorgan Chase & Co. dropped their price target on shares of Devon Energy from $48.00 to $42.00 and set a "neutral" rating for the company in a research report on Thursday, March 13th. Finally, Bank of America decreased their price objective on shares of Devon Energy from $52.00 to $42.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. Ten research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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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