Devon Energy Co. (NYSE:DVN) Shares Purchased by Lmcg Investments LLC

Lmcg Investments LLC grew its holdings in shares of Devon Energy Co. (NYSE:DVN) by 1.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 56,858 shares of the energy company’s stock after purchasing an additional 896 shares during the quarter. Lmcg Investments LLC’s holdings in Devon Energy were worth $1,861,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Geode Capital Management LLC boosted its position in Devon Energy by 1.3% during the third quarter. Geode Capital Management LLC now owns 15,892,970 shares of the energy company’s stock worth $619,747,000 after acquiring an additional 206,884 shares during the last quarter. EnCap Energy Capital Fund XI L.P. purchased a new position in Devon Energy in the 3rd quarter worth approximately $461,857,000. Pacer Advisors Inc. boosted its holdings in shares of Devon Energy by 16.9% during the 3rd quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company’s stock worth $453,446,000 after purchasing an additional 1,677,652 shares during the last quarter. EnCap Partners GP LLC purchased a new stake in shares of Devon Energy in the third quarter valued at approximately $408,653,000. Finally, Victory Capital Management Inc. increased its holdings in shares of Devon Energy by 3.8% in the third quarter. Victory Capital Management Inc. now owns 9,971,343 shares of the energy company’s stock valued at $390,079,000 after purchasing an additional 361,968 shares during the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Devon Energy Trading Down 3.2 %

Shares of DVN stock opened at $36.73 on Wednesday. The stock has a market capitalization of $24.13 billion, a P/E ratio of 6.81, a price-to-earnings-growth ratio of 1.26 and a beta of 2.00. 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 0.61, a quick ratio of 1.01 and a current ratio of 1.11. The company has a 50 day moving average price of $35.43 and a 200 day moving average price of $40.07.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.01. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The business had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.72 billion. During the same period last year, the firm earned $1.65 earnings per share. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. Equities research analysts predict that Devon Energy Co. will post 4.68 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend was Friday, December 13th. Devon Energy’s payout ratio is presently 16.33%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on DVN shares. Piper Sandler lowered their price objective on Devon Energy from $57.00 to $53.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Jefferies Financial Group started coverage on shares of Devon Energy in a report on Thursday, October 3rd. They issued a “hold” rating and a $45.00 price objective for the company. StockNews.com raised shares of Devon Energy from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. JPMorgan Chase & Co. cut shares of 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. Finally, TD Cowen reduced their price target on shares of Devon Energy from $54.00 to $46.00 and set a “hold” rating on the stock in a research report on Tuesday, November 5th. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Devon Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.27.

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.