Devon Energy Co. (NYSE:DVN) Stock Holdings Lowered by Lazari Capital Management Inc.

Lazari Capital Management Inc. lowered its position in shares of Devon Energy Co. (NYSE:DVN) by 7.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 29,832 shares of the energy company’s stock after selling 2,568 shares during the period. Lazari Capital Management Inc.’s holdings in Devon Energy were worth $976,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Riversedge Advisors LLC grew its position in Devon Energy by 3.6% in the 3rd quarter. Riversedge Advisors LLC now owns 7,336 shares of the energy company’s stock valued at $287,000 after buying an additional 253 shares in the last quarter. Modus Advisors LLC grew its position in Devon Energy by 2.4% in the 3rd quarter. Modus Advisors LLC now owns 11,439 shares of the energy company’s stock valued at $447,000 after buying an additional 272 shares in the last quarter. Hazlett Burt & Watson Inc. grew its position in Devon Energy by 29.8% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock valued at $49,000 after buying an additional 290 shares in the last quarter. Sfmg LLC grew its position in Devon Energy by 0.5% in the 3rd quarter. Sfmg LLC now owns 64,871 shares of the energy company’s stock valued at $2,538,000 after buying an additional 294 shares in the last quarter. Finally, Hexagon Capital Partners LLC grew its position in Devon Energy by 4.0% in the 3rd quarter. Hexagon Capital Partners LLC now owns 8,001 shares of the energy company’s stock valued at $313,000 after buying an additional 310 shares in the last quarter. Institutional investors own 69.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. StockNews.com upgraded shares of Devon Energy from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Scotiabank cut their price target on shares of Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Benchmark raised shares of Devon Energy from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a research note on Tuesday, January 14th. TD Cowen reduced their price objective on shares of Devon Energy from $54.00 to $46.00 and set a “hold” rating for the company in a research note on Tuesday, November 5th. Finally, 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 research note on Monday, January 13th. Nine equities 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, Devon Energy presently has a consensus rating of “Moderate Buy” and an average price target of $49.45.

Devon Energy Stock Down 2.7 %

NYSE:DVN opened at $34.09 on Monday. The firm has a market capitalization of $22.39 billion, a price-to-earnings ratio of 6.32, a price-to-earnings-growth ratio of 1.07 and a beta of 1.98. Devon Energy Co. has a twelve month low of $30.39 and a twelve month high of $55.09. The stock’s 50 day moving average price is $34.89 and its two-hundred day moving average price is $39.41. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.01. The firm had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.72 billion. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.65 EPS. Equities research analysts expect that Devon Energy Co. will post 4.68 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend was Friday, December 13th. Devon Energy’s dividend payout ratio (DPR) is 16.33%.

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.