KBC Group NV Has $26.58 Million Stock Holdings in Devon Energy Co. (NYSE:DVN)

KBC Group NV raised its position in shares of Devon Energy Co. (NYSE:DVN) by 1,015.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 812,027 shares of the energy company’s stock after purchasing an additional 739,247 shares during the period. KBC Group NV owned approximately 0.12% of Devon Energy worth $26,577,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its holdings in shares of Devon Energy by 16.1% during the 4th quarter. Blue Trust Inc. now owns 16,820 shares of the energy company’s stock worth $551,000 after buying an additional 2,334 shares in the last quarter. PFG Investments LLC raised its stake in Devon Energy by 8.4% during the fourth quarter. PFG Investments LLC now owns 30,403 shares of the energy company’s stock worth $995,000 after acquiring an additional 2,356 shares in the last quarter. Flagship Harbor Advisors LLC lifted its holdings in shares of Devon Energy by 56.1% in the fourth quarter. Flagship Harbor Advisors LLC now owns 21,860 shares of the energy company’s stock worth $715,000 after acquiring an additional 7,857 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Devon Energy by 22.1% in the 4th quarter. Geneos Wealth Management Inc. now owns 9,466 shares of the energy company’s stock valued at $310,000 after purchasing an additional 1,713 shares in the last quarter. Finally, Fifth Third Bancorp grew its holdings in shares of Devon Energy by 11.0% during the 4th quarter. Fifth Third Bancorp now owns 27,637 shares of the energy company’s stock valued at $905,000 after purchasing an additional 2,748 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Sanford C. Bernstein upgraded Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price target for the company in a research note on Wednesday, January 15th. JPMorgan Chase & Co. lowered Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 price target on the stock. in a research note on Thursday, December 5th. Piper Sandler dropped their price objective on shares of Devon Energy from $57.00 to $53.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Benchmark raised shares of Devon Energy from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a report on Tuesday, January 14th. Finally, BMO Capital Markets decreased their price target on shares of Devon Energy from $52.00 to $48.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $49.41.

Devon Energy Stock Performance

Shares of DVN stock opened at $34.88 on Wednesday. Devon Energy Co. has a 12 month low of $30.39 and a 12 month high of $55.09. The stock has a market capitalization of $22.91 billion, a P/E ratio of 6.47, a PEG ratio of 1.21 and a beta of 2.00. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The firm’s 50 day moving average is $35.14 and its 200 day moving average is $39.70.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.01. The business had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.72 billion. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.65 EPS. On average, sell-side analysts anticipate that Devon Energy Co. will post 4.7 earnings per share for the current year.

Devon Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend was Friday, December 13th. Devon Energy’s dividend payout ratio is 16.33%.

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.