Natixis Advisors LLC Cuts Holdings in Devon Energy Co. (NYSE:DVN)

Natixis Advisors LLC trimmed its holdings in shares of Devon Energy Co. (NYSE:DVN) by 37.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 155,202 shares of the energy company’s stock after selling 91,437 shares during the quarter. Natixis Advisors LLC’s holdings in Devon Energy were worth $5,080,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. True Wealth Design LLC increased its holdings in Devon Energy by 3,889.3% during the third quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock valued at $44,000 after buying an additional 1,089 shares during the period. Cromwell Holdings LLC grew its holdings in Devon Energy by 98.0% in the fourth quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company’s stock worth $40,000 after purchasing an additional 598 shares during the last quarter. Sierra Ocean LLC purchased a new position in Devon Energy in the fourth quarter worth $43,000. Endeavor Private Wealth Inc. purchased a new position in Devon Energy in the fourth quarter worth $52,000. Finally, Thompson Investment Management Inc. grew its holdings in Devon Energy by 60.0% in the fourth quarter. Thompson Investment Management Inc. now owns 1,600 shares of the energy company’s stock worth $52,000 after purchasing an additional 600 shares during the last quarter. 69.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on DVN. Cowen lowered shares of Devon Energy to a “hold” rating and cut their price target for the stock from $46.00 to $45.00 in a report on Tuesday, February 18th. Wells Fargo & Company cut their price target on shares of Devon Energy from $49.00 to $43.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $50.00 price target on shares of Devon Energy in a report on Friday, January 10th. Truist Financial lifted their price target 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. Finally, Williams Trading set a $50.00 price objective on shares of Devon Energy in a report on Wednesday, March 5th. Ten equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $48.46.

Devon Energy Trading Up 0.1 %

Shares of Devon Energy stock opened at $36.18 on Friday. The firm has a 50-day simple moving average of $35.46 and a two-hundred day simple moving average of $37.06. The company has a market cap of $23.48 billion, a P/E ratio of 7.93, a price-to-earnings-growth 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.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.16. The business had revenue of $4.40 billion during 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%. As a group, equities analysts predict that Devon Energy Co. will post 4.85 earnings per share for the current fiscal year.

Devon Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a $0.24 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.65%. This is an increase from Devon Energy’s previous quarterly dividend of $0.22. Devon Energy’s dividend payout ratio is 21.05%.

About Devon Energy

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.