Devon Energy Co. (NYSE:DVN) Shares Sold by D.A. Davidson & CO.

D.A. Davidson & CO. decreased its holdings in shares of Devon Energy Co. (NYSE:DVN) by 45.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 200,102 shares of the energy company’s stock after selling 164,151 shares during the quarter. D.A. Davidson & CO.’s holdings in Devon Energy were worth $6,549,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. EnCap Energy Capital Fund XI L.P. acquired a new position in Devon Energy in the 3rd quarter worth $461,857,000. EnCap Partners GP LLC acquired a new position in Devon Energy in the 3rd quarter worth $408,653,000. EnCap Energy Capital Fund X L.P. acquired a new position in Devon Energy in the 3rd quarter worth $230,928,000. International Assets Investment Management LLC lifted its holdings in Devon Energy by 4,125.7% in the 3rd quarter. International Assets Investment Management LLC now owns 2,280,961 shares of the energy company’s stock worth $89,231,000 after buying an additional 2,226,983 shares in the last quarter. Finally, Pacer Advisors Inc. raised its stake in shares of 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 purchasing an additional 1,677,652 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Wolfe Research upgraded shares of Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 target price on the stock in a research note on Friday, January 3rd. Piper Sandler upped their target price on shares of Devon Energy from $53.00 to $54.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. 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. Raymond James upped their target price on shares of Devon Energy from $53.00 to $54.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Finally, Sanford C. Bernstein upgraded shares of Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 target price on the stock in a research note 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, Devon Energy has a consensus rating of “Moderate Buy” and a consensus target price of $49.26.

Devon Energy Price Performance

NYSE DVN opened at $37.58 on Thursday. Devon Energy Co. has a 52 week low of $30.39 and a 52 week high of $55.09. 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 stock has a market cap of $24.69 billion, a price-to-earnings ratio of 6.97, a price-to-earnings-growth ratio of 1.08 and a beta of 1.98. The company has a 50-day moving average price of $34.31 and a two-hundred day moving average price of $38.40.

Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.00 by $0.16. The firm had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.25 billion. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. Analysts forecast that Devon Energy Co. will post 4.68 EPS for the current year.

Devon Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $0.24 dividend. 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 dividend yield of 2.55%. The ex-dividend date of this dividend is Friday, March 14th. Devon Energy’s dividend payout ratio is currently 16.33%.

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.