Swiss National Bank Lowers Stock Holdings in Devon Energy Co. (NYSE:DVN)


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Swiss National Bank reduced its position in Devon Energy Co. (NYSE:DVN) by 0.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 865,000 shares of the energy company’s stock after selling 2,400 shares during the period. Swiss National Bank’s holdings in Devon Energy were worth $13,676,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in DVN. International Assets Investment Management LLC purchased a new stake in Devon Energy in the 4th quarter worth approximately $35,000. Capstone Triton Financial Group LLC purchased a new stake in Devon Energy in the 4th quarter worth approximately $45,000. Manchester Financial Inc. grew its stake in Devon Energy by 1,888.9% in the 4th quarter. Manchester Financial Inc. now owns 3,580 shares of the energy company’s stock worth $57,000 after acquiring an additional 3,400 shares during the period. Bourgeon Capital Management LLC boosted its holdings in shares of Devon Energy by 1,150.0% in the 3rd quarter. Bourgeon Capital Management LLC now owns 6,250 shares of the energy company’s stock valued at $59,000 after purchasing an additional 5,750 shares during the last quarter. Finally, Perigon Wealth Management LLC acquired a new position in shares of Devon Energy in the 4th quarter valued at $62,000. 80.86% of the stock is owned by hedge funds and other institutional investors.

Shares of DVN stock opened at $21.25 on Tuesday. Devon Energy Co. has a 12 month low of $4.70 and a 12 month high of $22.50. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.03 and a quick ratio of 2.03. The firm has a market capitalization of $14.30 billion, a P/E ratio of -2.49, a P/E/G ratio of 28.23 and a beta of 3.46. The company’s fifty day moving average price is $18.69 and its two-hundred day moving average price is $13.50.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, February 16th. The energy company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). Devon Energy had a positive return on equity of 2.38% and a negative net margin of 62.68%. During the same quarter last year, the business posted $0.36 earnings per share. On average, sell-side analysts anticipate that Devon Energy Co. will post -0.07 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 31st. Shareholders of record on Monday, March 15th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Friday, March 12th. This represents a $0.44 dividend on an annualized basis and a yield of 2.07%. Devon Energy’s dividend payout ratio is currently 31.88%.

A number of equities analysts have weighed in on the stock. Truist lifted their price target on shares of Devon Energy from $10.00 to $30.00 in a report on Thursday, February 18th. Siebert Williams Shank reiterated a “buy” rating and issued a $17.00 price target on shares of Devon Energy in a report on Wednesday, January 13th. MKM Partners lifted their price target on shares of Devon Energy from $19.00 to $20.00 and gave the company a “buy” rating in a report on Monday, November 2nd. Citigroup lifted their price target on shares of Devon Energy from $17.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday, February 9th. Finally, Scotiabank reiterated an “outperform” rating and issued a $20.00 price target (up previously from $14.00) on shares of Devon Energy in a report on Thursday, November 19th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $17.70.

Devon Energy Profile

Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates approximately 3,955 gross wells. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.

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Institutional Ownership by Quarter for Devon Energy (NYSE:DVN)

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