Keybank National Association OH Purchases 2,038 Shares of Devon Energy Co. (NYSE:DVN)

Keybank National Association OH raised its position in Devon Energy Co. (NYSE:DVN) by 19.2% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 12,641 shares of the energy company’s stock after acquiring an additional 2,038 shares during the period. Keybank National Association OH’s holdings in Devon Energy were worth $414,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC lifted its stake in Devon Energy by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 15,892,970 shares of the energy company’s stock valued at $619,747,000 after acquiring an additional 206,884 shares in the last quarter. EnCap Energy Capital Fund XI L.P. bought a new stake in Devon Energy in the 3rd quarter valued at approximately $461,857,000. Pacer Advisors Inc. lifted its stake in Devon Energy by 16.9% in the 3rd quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company’s stock valued at $453,446,000 after acquiring an additional 1,677,652 shares in the last quarter. EnCap Partners GP LLC bought a new stake in Devon Energy in the 3rd quarter valued at approximately $408,653,000. Finally, Victory Capital Management Inc. lifted its stake in Devon Energy by 3.8% in the 3rd quarter. Victory Capital Management Inc. now owns 9,971,343 shares of the energy company’s stock valued at $390,079,000 after acquiring an additional 361,968 shares in the last quarter. Institutional investors own 69.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on DVN shares. Benchmark restated a “buy” rating and issued a $44.00 target price on shares of Devon Energy in a research note on Thursday, February 20th. Piper Sandler boosted their price target on Devon Energy from $54.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. Wells Fargo & Company lowered their price target on Devon Energy from $49.00 to $43.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Raymond James boosted their price target on Devon Energy from $53.00 to $54.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Finally, Sanford C. Bernstein raised Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price target on the stock in a research report on Wednesday, January 15th. Ten research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $48.87.

Devon Energy Stock Performance

Shares of NYSE DVN opened at $34.74 on Monday. 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 stock’s fifty day moving average price is $35.24 and its two-hundred day moving average price is $37.63. Devon Energy Co. has a one year low of $30.39 and a one year high of $55.09. The firm has a market cap of $22.54 billion, a price-to-earnings ratio of 7.62, a P/E/G ratio of 1.20 and a beta of 1.91.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.16. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. The firm had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.25 billion. On average, equities analysts forecast that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.76%. This is a positive change from Devon Energy’s previous quarterly dividend of $0.22. The ex-dividend date is Friday, March 14th. Devon Energy’s dividend payout ratio is currently 21.05%.

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.