Vista Investment Partners LLC Increases Stock Holdings in Devon Energy Corporation $DVN

Vista Investment Partners LLC raised its stake in shares of Devon Energy Corporation (NYSE:DVN) by 185.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,102 shares of the energy company’s stock after acquiring an additional 18,241 shares during the period. Vista Investment Partners LLC’s holdings in Devon Energy were worth $1,029,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Woodline Partners LP raised its stake in shares of Devon Energy by 98.8% during the 1st quarter. Woodline Partners LP now owns 115,780 shares of the energy company’s stock worth $4,330,000 after purchasing an additional 57,555 shares during the period. Sivia Capital Partners LLC purchased a new stake in Devon Energy during the second quarter worth about $403,000. Elevation Point Wealth Partners LLC purchased a new stake in Devon Energy during the second quarter worth about $34,000. Level Four Advisory Services LLC raised its position in Devon Energy by 16.3% in the second quarter. Level Four Advisory Services LLC now owns 10,427 shares of the energy company’s stock worth $332,000 after acquiring an additional 1,459 shares during the period. Finally, Mackenzie Financial Corp raised its position in Devon Energy by 69.0% in the second quarter. Mackenzie Financial Corp now owns 115,637 shares of the energy company’s stock worth $3,678,000 after acquiring an additional 47,211 shares during the period. 69.72% of the stock is owned by hedge funds and other institutional investors.

Devon Energy Trading Down 3.4%

Shares of Devon Energy stock opened at $48.62 on Thursday. The company’s 50-day moving average price is $44.70 and its 200-day moving average price is $38.52. The company has a current ratio of 0.98, a quick ratio of 0.90 and a debt-to-equity ratio of 0.48. Devon Energy Corporation has a 12-month low of $25.89 and a 12-month high of $52.71. The company has a market cap of $30.15 billion, a price-to-earnings ratio of 11.66, a PEG ratio of 0.99 and a beta of 0.56.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, February 17th. The energy company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.01. Devon Energy had a return on equity of 16.28% and a net margin of 15.37%.The company had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $3.67 billion. During the same quarter last year, the business posted $1.10 earnings per share. The firm’s revenue was down 6.4% compared to the same quarter last year. On average, equities analysts expect that Devon Energy Corporation will post 4.85 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Friday, March 13th. Devon Energy’s payout ratio is currently 23.02%.

Analysts Set New Price Targets

Several equities analysts have weighed in on DVN shares. Siebert Williams Shank increased their price objective on Devon Energy from $46.00 to $50.00 and gave the company a “buy” rating in a report on Monday, January 26th. Sanford C. Bernstein dropped their price target on Devon Energy from $48.00 to $42.00 and set an “outperform” rating on the stock in a research report on Monday, January 5th. JPMorgan Chase & Co. cut their price target on Devon Energy from $44.00 to $41.00 and set an “overweight” rating for the company in a research note on Thursday, January 15th. Scotiabank raised Devon Energy to a “hold” rating in a report on Friday, March 27th. Finally, Johnson Rice lowered their price objective on Devon Energy from $70.00 to $62.00 and set a “buy” rating on the stock in a research note on Friday, December 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, Devon Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.36.

Devon Energy Company Profile

Devon Energy Corporation (NYSE: DVN) is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.

Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.