Devon Energy Co. (NYSE:DVN) Stock Holdings Boosted by Dakota Wealth Management

Dakota Wealth Management boosted its position in Devon Energy Co. (NYSE:DVN) by 260.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,230 shares of the energy company’s stock after purchasing an additional 13,900 shares during the quarter. Dakota Wealth Management’s holdings in Devon Energy were worth $629,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. EnCap Energy Capital Fund XI L.P. bought a new stake in shares of Devon Energy during the third quarter valued at approximately $461,857,000. EnCap Partners GP LLC bought a new stake in Devon Energy during the 3rd quarter valued at $408,653,000. EnCap Energy Capital Fund X L.P. acquired a new position in Devon Energy during the 3rd quarter worth $230,928,000. International Assets Investment Management LLC grew its stake in shares of Devon Energy by 4,125.7% in the third quarter. International Assets Investment Management LLC now owns 2,280,961 shares of the energy company’s stock worth $89,231,000 after purchasing an additional 2,226,983 shares in the last quarter. Finally, Pacer Advisors Inc. increased its holdings in shares of Devon Energy by 16.9% during the third quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company’s stock valued at $453,446,000 after purchasing an additional 1,677,652 shares during the period. 69.72% of the stock is owned by institutional investors and hedge funds.

Devon Energy Stock Performance

Shares of DVN stock opened at $35.98 on Friday. The company has a market capitalization of $23.64 billion, a price-to-earnings ratio of 6.68, a P/E/G ratio of 1.21 and a beta of 2.00. Devon Energy Co. has a 1-year low of $30.39 and a 1-year high of $55.09. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The stock’s fifty day simple moving average is $35.27 and its 200-day simple moving average is $39.95.

Devon Energy (NYSE:DVN) last released its earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.01. The company had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.72 billion. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.65 EPS. On average, sell-side analysts predict that Devon Energy Co. will post 4.7 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were given a $0.22 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.45%. Devon Energy’s payout ratio is 16.33%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Truist Financial reduced their price objective on shares of Devon Energy from $43.00 to $42.00 and set a “hold” rating for the company in a report on Monday, January 13th. Wells Fargo & Company decreased their price objective on shares of Devon Energy from $49.00 to $43.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. TD Cowen dropped their target price on Devon Energy from $54.00 to $46.00 and set a “hold” rating on the stock in a report on Tuesday, November 5th. StockNews.com upgraded Devon Energy from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Finally, Susquehanna lowered their price target on Devon Energy from $63.00 to $62.00 and set a “positive” rating on the stock in a research report on Friday, October 18th. Nine investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $49.41.

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.