Bryce Point Capital LLC Purchases Shares of 14,293 Devon Energy Co. (NYSE:DVN)

Bryce Point Capital LLC purchased a new position in shares of Devon Energy Co. (NYSE:DVN) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 14,293 shares of the energy company’s stock, valued at approximately $468,000.

Other institutional investors also recently modified their holdings of the company. Cromwell Holdings LLC lifted its position in shares of Devon Energy by 98.0% in the 4th quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company’s stock worth $40,000 after purchasing an additional 598 shares during the period. Sierra Ocean LLC acquired a new position in Devon Energy in the fourth quarter valued at $43,000. Endeavor Private Wealth Inc. acquired a new position in Devon Energy in the fourth quarter valued at $52,000. Thompson Investment Management Inc. grew its holdings in Devon Energy by 60.0% during the 4th quarter. Thompson Investment Management Inc. now owns 1,600 shares of the energy company’s stock worth $52,000 after acquiring an additional 600 shares during the period. Finally, Asset Planning Inc bought a new position in shares of Devon Energy in the 4th quarter worth about $54,000. Institutional investors own 69.72% of the company’s stock.

Devon Energy Trading Down 11.7 %

Shares of DVN stock opened at $29.30 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.04. The company has a market capitalization of $19.01 billion, a price-to-earnings ratio of 6.42, a PEG ratio of 1.20 and a beta of 1.50. Devon Energy Co. has a 52-week low of $29.06 and a 52-week high of $55.09. The company has a 50-day simple moving average of $35.22 and a two-hundred day simple moving average of $36.72.

Devon Energy (NYSE:DVN) last released its earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.16. The company had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.25 billion. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. Research analysts anticipate that Devon Energy Co. will post 4.85 EPS for the current fiscal year.

Devon Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a dividend of $0.24 per share. The ex-dividend date was Friday, March 14th. This is a positive change from Devon Energy’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 3.28%. Devon Energy’s dividend payout ratio (DPR) is currently 21.05%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on DVN shares. Sanford C. Bernstein raised Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 target price for the company in a research note on Wednesday, January 15th. Morgan Stanley set a $47.00 price objective on shares of Devon Energy and gave the company an “overweight” rating in a research note on Wednesday, March 26th. Truist Financial increased their target price on shares of Devon Energy from $42.00 to $44.00 and gave the stock a “hold” rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. decreased their price target on shares of Devon Energy from $48.00 to $42.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th. Finally, Wells Fargo & Company cut their price objective on shares of Devon Energy from $49.00 to $43.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Ten investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Devon Energy has an average rating of “Moderate Buy” and a consensus price target of $48.17.

About Devon Energy

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.