Gilman Hill Asset Management LLC Invests $4.86 Million in Devon Energy Co. (NYSE:DVN)

Gilman Hill Asset Management LLC bought a new position in shares of Devon Energy Co. (NYSE:DVN) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 148,502 shares of the energy company’s stock, valued at approximately $4,860,000.

Several other large investors have also recently bought and sold shares of the stock. William B. Walkup & Associates Inc. acquired a new position in shares of Devon Energy in the second quarter valued at approximately $1,026,000. Legacy Investment Solutions LLC bought a new position in Devon Energy during the third quarter worth $8,002,000. Bridgewater Associates LP bought a new position in Devon Energy in the third quarter worth approximately $9,426,000. Petrus Trust Company LTA increased its position in shares of Devon Energy by 394.7% during the third quarter. Petrus Trust Company LTA now owns 21,827 shares of the energy company’s stock worth $854,000 after acquiring an additional 17,415 shares in the last quarter. Finally, CIBC Asset Management Inc grew its position in Devon Energy by 6.3% in the 3rd quarter. CIBC Asset Management Inc now owns 107,182 shares of the energy company’s stock worth $4,193,000 after purchasing an additional 6,358 shares in the last quarter. 69.72% of the stock is owned by institutional investors and hedge funds.

Devon Energy Stock Down 1.2 %

Shares of NYSE DVN opened at $37.98 on Monday. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61. Devon Energy Co. has a 52-week low of $30.39 and a 52-week high of $55.09. The firm has a market cap of $24.95 billion, a price-to-earnings ratio of 7.05, a PEG ratio of 1.14 and a beta of 2.00. The business’s 50 day moving average is $35.48 and its two-hundred day moving average is $40.21.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, beating the consensus estimate of $1.09 by $0.01. The company had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.72 billion. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The firm’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.65 earnings per share. Research analysts predict that Devon Energy Co. will post 4.72 EPS for the current year.

Devon Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend was Friday, December 13th. Devon Energy’s payout ratio is currently 16.33%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. lowered Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 price objective for the company. in a report on Thursday, December 5th. Truist Financial dropped their target price on shares of Devon Energy from $43.00 to $42.00 and set a “hold” rating for the company in a report on Monday, January 13th. Sanford C. Bernstein raised 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 report on Wednesday, January 15th. TD Cowen cut their target price on Devon Energy from $54.00 to $46.00 and set a “hold” rating on the stock in a research note on Tuesday, November 5th. Finally, Citigroup lowered their price target on Devon Energy from $55.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Devon Energy presently has an average rating of “Moderate Buy” and an average price target of $49.27.

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.