Devon Energy Co. (NYSE:DVN) Shares Bought by Venturi Wealth Management LLC

Venturi Wealth Management LLC grew its position in shares of Devon Energy Co. (NYSE:DVN) by 34.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 4,198 shares of the energy company’s stock after purchasing an additional 1,084 shares during the quarter. Venturi Wealth Management LLC’s holdings in Devon Energy were worth $137,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of DVN. Capital Performance Advisors LLP acquired a new position in shares of Devon Energy during the 3rd quarter valued at $35,000. Sierra Ocean LLC acquired a new position in shares of Devon Energy during the 4th quarter valued at $43,000. True Wealth Design LLC grew its holdings 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 worth $44,000 after acquiring an additional 1,089 shares during the last quarter. Hazlett Burt & Watson Inc. grew its holdings in shares of Devon Energy by 29.8% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock worth $49,000 after acquiring an additional 290 shares during the last quarter. Finally, Activest Wealth Management grew its holdings in shares of Devon Energy by 60.4% in the 3rd quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock worth $50,000 after acquiring an additional 480 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DVN has been the topic of a number of recent research reports. Royal Bank of Canada restated a “sector perform” rating and issued a $50.00 target price on shares of Devon Energy in a report on Friday, January 10th. Raymond James lifted their target price on Devon Energy from $53.00 to $54.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Truist Financial lifted their target price on Devon Energy from $42.00 to $44.00 and gave the stock a “hold” rating in a report on Thursday. Citigroup decreased their target price on Devon Energy from $55.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. Finally, Sanford C. Bernstein upgraded 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 research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $48.83.

Devon Energy Price Performance

DVN opened at $37.49 on Friday. Devon Energy Co. has a 1 year low of $30.39 and a 1 year high of $55.09. The stock has a fifty day moving average price of $34.47 and a 200 day moving average price of $38.35. The stock has a market cap of $24.33 billion, a price-to-earnings ratio of 8.22, a PEG ratio of 1.20 and a beta of 1.98. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57.

Devon Energy (NYSE:DVN) last announced 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. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. The company had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.25 billion. Analysts forecast that Devon Energy Co. will post 4.85 EPS for the current fiscal year.

Devon Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a $0.24 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.56%. This is a boost from Devon Energy’s previous quarterly dividend of $0.22. Devon Energy’s payout ratio is currently 19.30%.

Devon Energy Company 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.