Devon Energy Co. (NYSE:DVN) Shares Bought by Blair William & Co. IL

Blair William & Co. IL grew its stake in shares of Devon Energy Co. (NYSE:DVN) by 1.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 135,871 shares of the energy company’s stock after acquiring an additional 1,414 shares during the period. Blair William & Co. IL’s holdings in Devon Energy were worth $4,447,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in Devon Energy by 7.3% during the fourth quarter. Vanguard Group Inc. now owns 80,682,170 shares of the energy company’s stock worth $2,640,727,000 after purchasing an additional 5,465,692 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Devon Energy by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 15,892,970 shares of the energy company’s stock worth $619,747,000 after buying an additional 206,884 shares during the last quarter. EnCap Energy Capital Fund XI L.P. purchased a new stake in shares of Devon Energy in the 3rd quarter worth about $461,857,000. EnCap Partners GP LLC acquired a new stake in Devon Energy in the 3rd quarter valued at about $408,653,000. Finally, Victory Capital Management Inc. increased its holdings in Devon Energy by 2.3% during the 4th quarter. Victory Capital Management Inc. now owns 10,203,812 shares of the energy company’s stock valued at $333,971,000 after acquiring an additional 232,469 shares in the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on DVN shares. Sanford C. Bernstein raised shares of Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price target on the stock in a report on Wednesday, January 15th. Cowen cut Devon Energy to a “hold” rating and lowered their target price for the company from $46.00 to $45.00 in a report on Tuesday, February 18th. Truist Financial boosted their price target on Devon Energy from $42.00 to $44.00 and gave the stock a “hold” rating in a report on Thursday, February 20th. Morgan Stanley set a $47.00 price objective on Devon Energy and gave the company an “overweight” rating in a research note on Wednesday. Finally, Williams Trading set a $50.00 target price on shares of Devon Energy in a research note on Wednesday, March 5th. Ten investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, Devon Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.29.

Devon Energy Stock Performance

NYSE DVN opened at $36.79 on Monday. The business’s 50-day simple moving average is $35.38 and its 200-day simple moving average is $36.84. The firm has a market capitalization of $23.87 billion, a P/E ratio of 8.07, a P/E/G ratio of 1.20 and a beta of 1.91. Devon Energy Co. has a 1-year low of $30.39 and a 1-year high of $55.09. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01.

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

Devon Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.24 dividend. This is an increase from Devon Energy’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend is Friday, March 14th. Devon Energy’s dividend payout ratio is currently 21.05%.

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.