Devon Energy Co. (NYSE:DVN) Shares Bought by CapWealth Advisors LLC

CapWealth Advisors LLC raised its holdings in Devon Energy Co. (NYSE:DVN) by 27.1% in the fourth quarter, Holdings Channel reports. The fund owned 370,419 shares of the energy company’s stock after buying an additional 79,090 shares during the period. Devon Energy accounts for approximately 2.0% of CapWealth Advisors LLC’s investment portfolio, making the stock its 20th largest holding. CapWealth Advisors LLC’s holdings in Devon Energy were worth $16,780,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of DVN. Federated Hermes Inc. grew its stake in shares of Devon Energy by 186.2% in the 4th quarter. Federated Hermes Inc. now owns 198,608 shares of the energy company’s stock valued at $8,997,000 after buying an additional 129,207 shares during the period. Peterson Wealth Services boosted its position in shares of Devon Energy by 29.2% during the 4th quarter. Peterson Wealth Services now owns 27,870 shares of the energy company’s stock worth $1,262,000 after purchasing an additional 6,301 shares during the period. Mraz Amerine & Associates Inc. boosted its position in shares of Devon Energy by 19.9% during the 4th quarter. Mraz Amerine & Associates Inc. now owns 22,052 shares of the energy company’s stock worth $999,000 after purchasing an additional 3,666 shares during the period. Daiwa Securities Group Inc. boosted its position in shares of Devon Energy by 8.3% during the 4th quarter. Daiwa Securities Group Inc. now owns 58,183 shares of the energy company’s stock worth $2,636,000 after purchasing an additional 4,461 shares during the period. Finally, Rakuten Securities Inc. purchased a new position in shares of Devon Energy during the 4th quarter worth approximately $74,000. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Stock Up 0.4 %

Shares of DVN traded up $0.20 during midday trading on Thursday, reaching $51.87. The stock had a trading volume of 1,814,838 shares, compared to its average volume of 7,997,598. Devon Energy Co. has a 1-year low of $40.47 and a 1-year high of $55.09. The company’s fifty day simple moving average is $47.51 and its two-hundred day simple moving average is $45.82. The company has a market cap of $32.94 billion, a price-to-earnings ratio of 8.89 and a beta of 2.19. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.07 and a quick ratio of 0.99.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Tuesday, February 27th. The energy company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.39 by $0.02. Devon Energy had a net margin of 24.56% and a return on equity of 31.72%. The firm had revenue of $4.15 billion for the quarter, compared to analyst estimates of $3.88 billion. During the same period last year, the business earned $1.66 EPS. Devon Energy’s revenue for the quarter was down 3.6% compared to the same quarter last year. Equities research analysts expect that Devon Energy Co. will post 5.14 earnings per share for the current year.

Devon Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.76 annualized dividend and a yield of 3.39%. Devon Energy’s dividend payout ratio is currently 15.09%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Scotiabank increased their price objective on shares of Devon Energy from $53.00 to $67.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. Citigroup increased their price objective on shares of Devon Energy from $55.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Truist Financial lowered their price objective on shares of Devon Energy from $69.00 to $66.00 and set a “buy” rating for the company in a research report on Friday, April 5th. JPMorgan Chase & Co. raised their price target on shares of Devon Energy from $57.00 to $62.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Finally, Wells Fargo & Company raised shares of Devon Energy from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $46.00 to $59.00 in a research report on Monday, April 1st. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.89.

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.