Devon Energy Co. (NYSE:DVN) Shares Purchased by Invera Wealth Advisors LLC

Invera Wealth Advisors LLC grew its holdings in shares of Devon Energy Co. (NYSE:DVN) by 55.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,364 shares of the energy company’s stock after acquiring an additional 6,527 shares during the period. Invera Wealth Advisors LLC’s holdings in Devon Energy were worth $601,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital Performance Advisors LLP acquired a new stake in Devon Energy during the 3rd quarter valued at approximately $35,000. True Wealth Design LLC raised its position in shares of Devon Energy by 3,889.3% in the 3rd quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock valued at $44,000 after purchasing an additional 1,089 shares in the last quarter. Hazlett Burt & Watson Inc. boosted its stake in shares of Devon Energy by 29.8% during the 3rd 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 during the last quarter. Activest Wealth Management grew its position in shares of Devon Energy by 60.4% during the third quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock worth $50,000 after buying an additional 480 shares in the last quarter. Finally, Sierra Ocean LLC acquired a new stake in shares of Devon Energy during the fourth quarter worth approximately $43,000. 69.72% of the stock is owned by hedge funds and other institutional investors.

Devon Energy Price Performance

Shares of NYSE:DVN opened at $37.58 on Thursday. The company has a market cap of $24.69 billion, a P/E ratio of 6.97, a price-to-earnings-growth ratio of 1.08 and a beta of 1.98. The company’s fifty day moving average is $34.31 and its two-hundred day moving average is $38.40. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61. Devon Energy Co. has a 12-month low of $30.39 and a 12-month 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 (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.16. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The firm had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.25 billion. Equities analysts expect that Devon Energy Co. will post 4.68 earnings per share 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. Investors of record on Friday, March 14th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Devon Energy’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a yield of 2.55%. Devon Energy’s payout ratio is presently 16.33%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Citigroup cut their price target on shares of Devon Energy from $55.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. TD Cowen cut their target price on shares of Devon Energy from $54.00 to $46.00 and set a “hold” rating on the stock in a research note on Tuesday, November 5th. Truist Financial decreased their price target on Devon Energy from $43.00 to $42.00 and set a “hold” rating for the company in a research note on Monday, January 13th. Royal Bank of Canada reissued a “sector perform” rating and issued a $50.00 price objective on shares of Devon Energy in a report on Friday, January 10th. Finally, Sanford C. Bernstein raised Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 target price on the stock in a report on Wednesday, January 15th. Ten analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $49.26.

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.