StoneX Group Inc. Purchases 19,859 Shares of Devon Energy Co. (NYSE:DVN)

StoneX Group Inc. grew its position in Devon Energy Co. (NYSE:DVN) by 90.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 41,724 shares of the energy company’s stock after buying an additional 19,859 shares during the period. StoneX Group Inc.’s holdings in Devon Energy were worth $1,366,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of DVN. Legacy Investment Solutions LLC bought a new position in Devon Energy in the third quarter worth $8,002,000. Petrus Trust Company LTA lifted its holdings in shares of Devon Energy by 394.7% during the 3rd quarter. Petrus Trust Company LTA now owns 21,827 shares of the energy company’s stock worth $854,000 after acquiring an additional 17,415 shares during the period. Klein Pavlis & Peasley Financial Inc. acquired a new stake in shares of Devon Energy during the 4th quarter valued at about $782,000. Fortem Financial Group LLC bought a new stake in Devon Energy in the third quarter valued at about $583,000. Finally, Centiva Capital LP raised its position in Devon Energy by 108.4% in the third quarter. Centiva Capital LP now owns 57,361 shares of the energy company’s stock worth $2,244,000 after purchasing an additional 29,837 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Stock Up 0.4 %

Shares of Devon Energy stock opened at $37.56 on Wednesday. Devon Energy Co. has a 12 month low of $30.39 and a 12 month high of $55.09. The business has a fifty day simple moving average of $35.39 and a 200 day simple moving average of $36.81. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. The stock has a market cap of $24.37 billion, a PE ratio of 8.24, a price-to-earnings-growth ratio of 1.20 and a beta of 1.91.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.16. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. The company had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.25 billion. Research analysts predict that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.56%. This is a boost from Devon Energy’s previous quarterly dividend of $0.22. The ex-dividend date was Friday, March 14th. Devon Energy’s dividend payout ratio (DPR) is currently 21.05%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on DVN shares. Sanford C. Bernstein upgraded Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price objective on the stock in a research note on Wednesday, January 15th. Morgan Stanley set a $47.00 price target on Devon Energy and gave the company an “overweight” rating in a research report on Wednesday, March 26th. Raymond James reduced their target price on shares of Devon Energy from $54.00 to $46.00 and set an “outperform” rating on the stock in a research note on Monday, March 10th. Williams Trading set a $50.00 target price on shares of Devon Energy in a research report on Wednesday, March 5th. Finally, Truist Financial boosted their price target on shares of Devon Energy from $42.00 to $44.00 and gave the company a “hold” rating in a research report on Thursday, February 20th. Ten analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $48.29.

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.