Sentry Investment Management LLC Decreases Stake in Devon Energy Co. (NYSE:DVN)

Sentry Investment Management LLC decreased its holdings in Devon Energy Co. (NYSE:DVNFree Report) by 14.0% in the 4th quarter, HoldingsChannel reports. The fund owned 2,410 shares of the energy company’s stock after selling 392 shares during the quarter. Sentry Investment Management LLC’s holdings in Devon Energy were worth $79,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Capital Performance Advisors LLP purchased a new position in shares of Devon Energy in the 3rd quarter valued at about $35,000. True Wealth Design LLC grew its position 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 worth $44,000 after buying an additional 1,089 shares during the period. Cromwell Holdings LLC grew its position in Devon Energy by 98.0% during the fourth quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company’s stock worth $40,000 after buying an additional 598 shares during the period. Hazlett Burt & Watson Inc. increased its holdings in Devon Energy by 29.8% in the third 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. 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Wolfe Research upgraded Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price target on the stock in a report on Friday, January 3rd. TD Cowen dropped their price target on Devon Energy from $54.00 to $46.00 and set a “hold” rating for the company in a research report on Tuesday, November 5th. JPMorgan Chase & Co. downgraded Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 price target for the company. in a research note on Thursday, December 5th. Piper Sandler increased their price objective on shares of Devon Energy from $54.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Benchmark restated a “buy” rating and set a $44.00 target price on shares of Devon Energy in a research report on Thursday, February 20th. Ten 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.com, Devon Energy currently has an average rating of “Moderate Buy” and a consensus price target of $48.87.

Read Our Latest Research Report on Devon Energy

Devon Energy Stock Up 1.1 %

DVN opened at $35.85 on Friday. The stock has a market capitalization of $23.26 billion, a price-to-earnings ratio of 7.86, a price-to-earnings-growth ratio of 1.20 and a beta of 1.98. Devon Energy Co. has a 12 month low of $30.39 and a 12 month high of $55.09. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01. The business has a 50-day moving average of $34.83 and a two-hundred day moving average of $38.16.

Devon Energy (NYSE:DVNGet Free Report) last released its earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.16. The firm 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%. On average, research analysts expect that Devon Energy Co. will post 4.85 earnings per share for the current year.

Devon Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a $0.24 dividend. This is a positive change from Devon Energy’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 2.68%. The ex-dividend date of this dividend is Friday, March 14th. Devon Energy’s dividend payout ratio (DPR) is 21.05%.

Devon Energy Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Devon Energy (NYSE:DVN)

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