32,600 Shares in Devon Energy Co. (NYSE:DVN) Acquired by Tejara Capital Ltd

Tejara Capital Ltd acquired a new position in shares of Devon Energy Co. (NYSE:DVN) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 32,600 shares of the energy company’s stock, valued at approximately $1,067,000.

Other large investors have also recently modified their holdings of the company. Tocqueville Asset Management L.P. grew its position in Devon Energy by 3.0% during the 4th quarter. Tocqueville Asset Management L.P. now owns 12,242 shares of the energy company’s stock worth $401,000 after purchasing an additional 359 shares during the last quarter. Nikko Asset Management Americas Inc. grew its position in Devon Energy by 6.5% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 26,581 shares of the energy company’s stock worth $870,000 after purchasing an additional 1,626 shares during the last quarter. Signaturefd LLC grew its position in Devon Energy by 12.2% during the 4th quarter. Signaturefd LLC now owns 18,001 shares of the energy company’s stock worth $589,000 after purchasing an additional 1,958 shares during the last quarter. Cibc World Markets Corp grew its position in Devon Energy by 20.1% during the 4th quarter. Cibc World Markets Corp now owns 102,204 shares of the energy company’s stock worth $3,345,000 after purchasing an additional 17,135 shares during the last quarter. Finally, Corient Private Wealth LLC grew its position in Devon Energy by 1.4% during the 4th quarter. Corient Private Wealth LLC now owns 95,741 shares of the energy company’s stock worth $3,134,000 after purchasing an additional 1,360 shares during the last quarter. Institutional investors own 69.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on DVN shares. Wells Fargo & Company dropped 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 report on Tuesday, December 17th. Wolfe Research raised shares of Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price objective on the stock in a report on Friday, January 3rd. StockNews.com raised shares of Devon Energy from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Susquehanna upped their price objective on shares of Devon Energy from $50.00 to $52.00 and gave the company a “positive” rating in a report on Thursday, February 20th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $50.00 price objective on shares of Devon Energy in a report on Friday, January 10th. Ten research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Devon Energy presently has a consensus rating of “Moderate Buy” and an average price target of $48.46.

Devon Energy Trading Up 1.7 %

Shares of DVN stock opened at $35.13 on Tuesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01. Devon Energy Co. has a 1-year low of $30.39 and a 1-year high of $55.09. The company has a 50-day moving average of $35.41 and a two-hundred day moving average of $37.20. The firm has a market cap of $22.80 billion, a PE ratio of 7.70, a price-to-earnings-growth ratio of 1.20 and a beta of 1.91.

Devon Energy (NYSE:DVN) last released its quarterly earnings data 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 net margin of 18.14% and a return on equity of 22.52%. The company had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.25 billion. On average, analysts predict that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders 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 dividend yield of 2.73%. This is a boost from Devon Energy’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, March 14th. Devon Energy’s payout ratio is presently 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.