Inspire Investing LLC Has $2.04 Million Stock Position in Devon Energy Co. (NYSE:DVN)

Inspire Investing LLC lowered its holdings in shares of Devon Energy Co. (NYSE:DVN) by 5.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 62,463 shares of the energy company’s stock after selling 3,696 shares during the period. Inspire Investing LLC’s holdings in Devon Energy were worth $2,044,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. William B. Walkup & Associates Inc. acquired a new stake in Devon Energy during the second quarter worth approximately $1,026,000. Bridgewater Associates LP acquired a new stake in Devon Energy during the third quarter worth approximately $9,426,000. Legacy Investment Solutions LLC acquired a new stake in Devon Energy during the third quarter worth approximately $8,002,000. Petrus Trust Company LTA grew its stake in 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 purchasing an additional 17,415 shares during the period. Finally, CIBC Asset Management Inc boosted its holdings in Devon Energy by 6.3% in the third quarter. CIBC Asset Management Inc now owns 107,182 shares of the energy company’s stock worth $4,193,000 after acquiring an additional 6,358 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Stock Performance

Shares of Devon Energy stock opened at $36.46 on Thursday. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The business’s fifty day simple moving average is $35.37 and its 200 day simple moving average is $40.05. Devon Energy Co. has a 12 month low of $30.39 and a 12 month high of $55.09. The firm has a market capitalization of $23.95 billion, a P/E ratio of 6.76, a price-to-earnings-growth ratio of 1.22 and a beta of 2.00.

Devon Energy (NYSE:DVN) last released its earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, topping 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 business had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same period last year, the business posted $1.65 earnings per share. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, analysts anticipate that Devon Energy Co. will post 4.68 EPS for the current year.

Devon Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend was Friday, December 13th. Devon Energy’s dividend payout ratio is currently 16.33%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Truist Financial cut their price target on Devon Energy from $43.00 to $42.00 and set a “hold” rating on the stock in a report on Monday, January 13th. Scotiabank cut their price target on Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Susquehanna cut their price target on Devon Energy from $63.00 to $62.00 and set a “positive” rating on the stock in a report on Friday, October 18th. TD Cowen cut their price target on Devon Energy from $54.00 to $46.00 and set a “hold” rating on the stock in a report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. lowered Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 target price on the stock. in a report on Thursday, December 5th. Nine investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.27.

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.