Sava Infond d.o.o. Makes New $342,000 Investment in Devon Energy Co. (NYSE:DVN)

Sava Infond d.o.o. bought a new stake in shares of Devon Energy Co. (NYSE:DVN) during the fourth quarter, Holdings Channel.com reports. The fund bought 10,460 shares of the energy company’s stock, valued at approximately $342,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Cromwell Holdings LLC boosted its position in Devon Energy by 98.0% during the 4th quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company’s stock valued at $40,000 after acquiring an additional 598 shares in the last quarter. Sierra Ocean LLC bought a new stake in shares of Devon Energy during the fourth quarter valued at approximately $43,000. True Wealth Design LLC grew its stake in Devon Energy by 3,889.3% in the third quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock worth $44,000 after purchasing an additional 1,089 shares during the period. Endeavor Private Wealth Inc. purchased a new stake in Devon Energy in the fourth quarter worth $52,000. Finally, Thompson Investment Management Inc. raised its holdings in Devon Energy by 60.0% in the fourth quarter. Thompson Investment Management Inc. now owns 1,600 shares of the energy company’s stock worth $52,000 after purchasing an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Down 1.4 %

DVN stock opened at $36.95 on Friday. The business’s 50-day moving average is $35.41 and its two-hundred day moving average is $36.92. The company has a market cap of $23.98 billion, a price-to-earnings ratio of 8.10, a P/E/G ratio of 1.20 and a beta of 1.91. 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 0.57, a quick ratio of 1.01 and a current ratio of 1.04.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.16. The business had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.25 billion. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. As a group, analysts forecast that Devon Energy Co. will post 4.85 earnings per share 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 issued a dividend of $0.24 per share. The ex-dividend date is Friday, March 14th. This is a boost from Devon Energy’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a yield of 2.60%. Devon Energy’s dividend payout ratio (DPR) is currently 21.05%.

Analysts Set New Price Targets

DVN has been the topic of a number of recent research reports. Barclays upped their target price on shares of Devon Energy from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 20th. Wells Fargo & Company decreased their target price on shares of Devon Energy from $49.00 to $43.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Benchmark restated a “buy” rating and issued a $44.00 price target on shares of Devon Energy in a research note on Thursday, February 20th. Susquehanna lifted their price objective on Devon Energy from $50.00 to $52.00 and gave the company a “positive” rating in a research note on Thursday, February 20th. Finally, Morgan Stanley set a $47.00 target price on Devon Energy and gave the stock an “overweight” rating in a research note on Wednesday. Ten investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $48.29.

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.