Xponance Inc. Acquires 21,410 Shares of Devon Energy Co. (NYSE:DVN)

Xponance Inc. grew its holdings in shares of Devon Energy Co. (NYSE:DVN) by 20.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 123,997 shares of the energy company’s stock after acquiring an additional 21,410 shares during the period. Xponance Inc.’s holdings in Devon Energy were worth $5,617,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of DVN. Coppell Advisory Solutions LLC bought a new stake in shares of Devon Energy during the 2nd quarter valued at $25,000. Canada Pension Plan Investment Board bought a new stake in shares of Devon Energy during the 1st quarter valued at $26,000. KB Financial Partners LLC bought a new stake in shares of Devon Energy during the 1st quarter valued at $26,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Devon Energy during the 3rd quarter valued at $27,000. Finally, Sound Income Strategies LLC grew its position in shares of Devon Energy by 60.7% during the 4th quarter. Sound Income Strategies LLC now owns 675 shares of the energy company’s stock valued at $31,000 after acquiring an additional 255 shares during the period. Institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Up 0.8 %

Shares of NYSE DVN opened at $51.85 on Friday. 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 Co. has a 12-month low of $40.47 and a 12-month high of $55.09. The stock has a market capitalization of $32.92 billion, a price-to-earnings ratio of 8.89 and a beta of 2.19. The firm’s 50-day moving average price is $47.89 and its 200-day moving average price is $45.90.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, February 27th. The energy company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.02. Devon Energy had a net margin of 24.56% and a return on equity of 31.72%. The company had revenue of $4.15 billion for the quarter, compared to analyst estimates of $3.88 billion. During the same period in the prior year, the company posted $1.66 EPS. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, equities research analysts anticipate that Devon Energy Co. will post 5.14 EPS for the current fiscal year.

Devon Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date was Thursday, March 14th. Devon Energy’s dividend payout ratio (DPR) is currently 15.09%.

Analyst Ratings Changes

Several research analysts recently weighed in on DVN shares. Barclays started coverage on shares of Devon Energy in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $59.00 target price for the company. Scotiabank upped their target price on shares of Devon Energy from $53.00 to $67.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. Piper Sandler upped their target price on shares of Devon Energy from $59.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $55.00 target price on shares of Devon Energy in a report on Thursday, March 7th. Finally, Stifel Nicolaus decreased their price target on shares of Devon Energy from $75.00 to $65.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Devon Energy currently has an average rating of “Moderate Buy” and a consensus target price of $57.94.

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.