PFG Investments LLC Has $995,000 Holdings in Devon Energy Co. (NYSE:DVN)

PFG Investments LLC raised its holdings in Devon Energy Co. (NYSE:DVN) by 8.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 30,403 shares of the energy company’s stock after buying an additional 2,356 shares during the quarter. PFG Investments LLC’s holdings in Devon Energy were worth $995,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Bridgewater Associates LP acquired a new position in Devon Energy in the third quarter valued at approximately $9,426,000. Legacy Investment Solutions LLC bought a new stake in shares of Devon Energy during the third quarter valued at approximately $8,002,000. Petrus Trust Company LTA increased its holdings 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 valued at $854,000 after acquiring an additional 17,415 shares in the last quarter. CIBC Asset Management Inc increased its holdings in shares of Devon Energy by 6.3% during the third quarter. CIBC Asset Management Inc now owns 107,182 shares of the energy company’s stock valued at $4,193,000 after acquiring an additional 6,358 shares in the last quarter. Finally, Smead Capital Management Inc. increased its holdings in shares of Devon Energy by 3.5% during the third quarter. Smead Capital Management Inc. now owns 5,879,516 shares of the energy company’s stock valued at $230,007,000 after acquiring an additional 198,193 shares in the last quarter. 69.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on DVN shares. Sanford C. Bernstein upgraded Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price objective for the company in a report on Wednesday, January 15th. Benchmark upgraded Devon Energy from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a report on Tuesday, January 14th. Susquehanna decreased their price objective on Devon Energy from $63.00 to $62.00 and set a “positive” rating for the company in a report on Friday, October 18th. Piper Sandler decreased their price objective on Devon Energy from $57.00 to $53.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Finally, JPMorgan Chase & Co. downgraded Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 price target for the company. in a report on Thursday, December 5th. Nine investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $49.41.

Devon Energy Stock Down 1.3 %

Shares of NYSE DVN opened at $34.88 on Wednesday. Devon Energy Co. has a one year low of $30.39 and a one year high of $55.09. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01. The business’s fifty day moving average price is $35.14 and its 200-day moving average price is $39.70. The stock has a market capitalization of $22.91 billion, a PE ratio of 6.47, a P/E/G ratio of 1.21 and a beta of 2.00.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.01. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The firm had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter in the prior year, the firm earned $1.65 EPS. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, equities research analysts anticipate that Devon Energy Co. will post 4.7 EPS for the current year.

Devon Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.52%. Devon Energy’s dividend payout ratio is presently 16.33%.

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.