Devon Energy Co. (NYSE:DVN) Stock Holdings Raised by Huntington National Bank

Huntington National Bank lifted its stake in shares of Devon Energy Co. (NYSE:DVN) by 84.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,910 shares of the energy company’s stock after purchasing an additional 2,250 shares during the period. Huntington National Bank’s holdings in Devon Energy were worth $161,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. Cromwell Holdings LLC lifted its holdings in Devon Energy by 98.0% during the 4th quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company’s stock worth $40,000 after buying an additional 598 shares during the last quarter. Sierra Ocean LLC acquired a new stake in shares of Devon Energy during the 4th quarter valued at approximately $43,000. Endeavor Private Wealth Inc. acquired a new position in Devon Energy in the fourth quarter worth $52,000. Thompson Investment Management Inc. boosted its holdings in Devon Energy by 60.0% in the fourth quarter. Thompson Investment Management Inc. now owns 1,600 shares of the energy company’s stock worth $52,000 after purchasing an additional 600 shares during the period. Finally, Asset Planning Inc bought a new stake in Devon Energy during the fourth quarter valued at $54,000. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Williams Trading set a $50.00 price target on shares of Devon Energy in a report on Wednesday, March 5th. Citigroup lowered their target price on Devon Energy from $46.00 to $43.00 and set a “buy” rating for the company in a report on Friday. Royal Bank of Canada reissued a “sector perform” rating and issued a $50.00 price target on shares of Devon Energy in a report on Friday, January 10th. Wells Fargo & Company reduced their price objective on Devon Energy from $49.00 to $43.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Finally, Mizuho dropped their target price on Devon Energy from $51.00 to $47.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $48.17.

Devon Energy Price Performance

NYSE:DVN opened at $29.30 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. The business’s 50-day moving average price is $35.22 and its 200 day moving average price is $36.70. Devon Energy Co. has a 52-week low of $29.06 and a 52-week high of $55.09. The firm has a market cap of $19.01 billion, a P/E ratio of 6.42, a PEG ratio of 1.20 and a beta of 1.50.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.16 earnings per share for the quarter, beating 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 analyst estimates of $4.25 billion. As a group, sell-side analysts predict that Devon Energy Co. will post 4.85 earnings per share for the current fiscal year.

Devon Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a $0.24 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.96 annualized dividend and a dividend yield of 3.28%. This is a boost from Devon Energy’s previous quarterly dividend of $0.22. Devon Energy’s dividend payout ratio is currently 21.05%.

Devon Energy 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.