Jackson Hole Capital Partners LLC Has $756,000 Stake in Devon Energy Co. (NYSE:DVN)

Jackson Hole Capital Partners LLC raised its position in Devon Energy Co. (NYSE:DVN) by 241.3% during the fourth quarter, Holdings Channel reports. The firm owned 23,109 shares of the energy company’s stock after purchasing an additional 16,338 shares during the period. Jackson Hole Capital Partners LLC’s holdings in Devon Energy were worth $756,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new position in shares of Devon Energy during the 3rd quarter valued at $35,000. Cromwell Holdings LLC lifted its position in shares of Devon Energy by 98.0% during the 4th quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company’s stock valued at $40,000 after acquiring an additional 598 shares during the period. Sierra Ocean LLC acquired a new position in shares of Devon Energy during the 4th quarter valued at $43,000. True Wealth Design LLC lifted its position in shares of Devon Energy by 3,889.3% during the 3rd quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock valued at $44,000 after acquiring an additional 1,089 shares during the period. Finally, Activest Wealth Management lifted its position in shares of Devon Energy by 60.4% during the 3rd quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock valued at $50,000 after acquiring an additional 480 shares during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on DVN. Wolfe Research upgraded shares of Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 target price on the stock in a research report on Friday, January 3rd. StockNews.com upgraded shares of Devon Energy from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Citigroup lowered their price objective on shares of Devon Energy from $55.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. Mizuho lowered their price objective on shares of Devon Energy from $51.00 to $47.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Finally, Truist Financial upped their price objective on shares of Devon Energy from $42.00 to $44.00 and gave the stock a “hold” rating in a report on Thursday, February 20th. Ten analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Devon Energy presently has a consensus rating of “Moderate Buy” and an average price target of $48.87.

Devon Energy Price Performance

DVN opened at $34.74 on Friday. The firm has a market cap of $22.54 billion, a P/E ratio of 7.62, a PEG ratio of 1.20 and a beta of 1.91. Devon Energy Co. has a fifty-two week low of $30.39 and a fifty-two week high of $55.09. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.04. The firm has a 50-day moving average of $35.24 and a 200 day moving average of $37.68.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.00 by $0.16. The business had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.25 billion. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. On average, research analysts expect that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Devon Energy’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a yield of 2.76%. Devon Energy’s dividend payout ratio is 21.05%.

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.