Marathon Trading Investment Management LLC Purchases New Shares in Devon Energy Co. (NYSE:DVN)

Marathon Trading Investment Management LLC acquired a new position in shares of Devon Energy Co. (NYSE:DVN) in the fourth quarter, Holdings Channel.com reports. The firm acquired 12,041 shares of the energy company’s stock, valued at approximately $394,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Argentarii LLC purchased a new position in Devon Energy in the 4th quarter valued at about $242,000. Jackson Hole Capital Partners LLC raised its holdings in shares of Devon Energy by 241.3% during the fourth quarter. Jackson Hole Capital Partners LLC now owns 23,109 shares of the energy company’s stock valued at $756,000 after acquiring an additional 16,338 shares during the last quarter. Amundi lifted its position in shares of Devon Energy by 2.3% in the fourth quarter. Amundi now owns 2,220,879 shares of the energy company’s stock valued at $78,064,000 after acquiring an additional 50,301 shares in the last quarter. Dorsey & Whitney Trust CO LLC boosted its stake in shares of Devon Energy by 6.1% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 8,681 shares of the energy company’s stock worth $284,000 after acquiring an additional 499 shares during the last quarter. Finally, Larson Financial Group LLC increased its position in shares of Devon Energy by 28.9% during the fourth quarter. Larson Financial Group LLC now owns 61,695 shares of the energy company’s stock worth $2,019,000 after purchasing an additional 13,816 shares in the last quarter. 69.72% of the stock is owned by hedge funds and other institutional investors.

Devon Energy Stock Performance

NYSE:DVN opened at $34.18 on Tuesday. The stock has a market capitalization of $22.18 billion, a P/E ratio of 7.49, a PEG ratio of 1.20 and a beta of 1.91. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.04. 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 50 day moving average price of $35.29 and a 200 day moving average price of $37.57.

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

Devon Energy Increases Dividend

The firm also recently declared 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. The ex-dividend date is Friday, March 14th. This is a positive change from Devon Energy’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a yield of 2.81%. Devon Energy’s dividend payout ratio is 21.05%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on DVN. Truist Financial raised their price objective on Devon Energy from $42.00 to $44.00 and gave the company a “hold” rating in a report on Thursday, February 20th. Williams Trading set a $50.00 price target on shares of Devon Energy in a research report on Wednesday, March 5th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $50.00 price objective on shares of Devon Energy in a research note on Friday, January 10th. Wells Fargo & Company decreased their target price on shares of Devon Energy from $49.00 to $43.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Finally, Susquehanna upped their price target on Devon Energy from $50.00 to $52.00 and gave the company a “positive” rating in a research report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $48.58.

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.