Keynote Financial Services LLC Increases Holdings in Devon Energy Co. (NYSE:DVN)

Keynote Financial Services LLC boosted its position in Devon Energy Co. (NYSE:DVN) by 14.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 6,763 shares of the energy company’s stock after purchasing an additional 836 shares during the period. Keynote Financial Services LLC’s holdings in Devon Energy were worth $221,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of DVN. Connable Office Inc. boosted its stake in shares of Devon Energy by 37.6% in the 4th quarter. Connable Office Inc. now owns 14,075 shares of the energy company’s stock valued at $461,000 after purchasing an additional 3,848 shares in the last quarter. Jacobi Capital Management LLC boosted its position in Devon Energy by 12.3% during the fourth quarter. Jacobi Capital Management LLC now owns 8,121 shares of the energy company’s stock valued at $266,000 after buying an additional 887 shares during the period. Metis Global Partners LLC grew its stake in shares of Devon Energy by 6.6% during the fourth quarter. Metis Global Partners LLC now owns 28,969 shares of the energy company’s stock valued at $948,000 after buying an additional 1,790 shares during the last quarter. SVB Wealth LLC purchased a new position in shares of Devon Energy in the fourth quarter worth about $256,000. Finally, Mutual of America Capital Management LLC lifted its stake in shares of Devon Energy by 9.0% in the 4th quarter. Mutual of America Capital Management LLC now owns 201,918 shares of the energy company’s stock valued at $6,609,000 after acquiring an additional 16,601 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on DVN shares. Mizuho reduced their price target on Devon Energy from $51.00 to $47.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Susquehanna raised their target price on shares of Devon Energy from $50.00 to $52.00 and gave the stock a “positive” rating in a report on Thursday, February 20th. Benchmark reaffirmed a “buy” rating and issued a $44.00 target price on shares of Devon Energy in a research note on Thursday, February 20th. StockNews.com raised shares of Devon Energy from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Finally, Piper Sandler boosted their price objective on shares of Devon Energy from $54.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, February 24th. Ten analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $48.87.

Devon Energy Stock Up 1.0 %

NYSE:DVN opened at $36.24 on Friday. 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 firm’s 50-day moving average price is $34.94 and its 200-day moving average price is $38.05. The company has a market capitalization of $23.52 billion, a PE ratio of 7.95, a P/E/G ratio of 1.20 and a beta of 1.98. Devon Energy Co. has a 1-year low of $30.39 and a 1-year high of $55.09.

Devon Energy (NYSE:DVN) last announced 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. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The business had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.25 billion. On average, equities analysts predict that Devon Energy Co. will post 4.85 EPS for the current fiscal year.

Devon Energy Increases Dividend

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

Devon Energy 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.