Elo Mutual Pension Insurance Co Sells 1,558 Shares of Devon Energy Co. (NYSE:DVN)

Elo Mutual Pension Insurance Co lessened its stake in shares of Devon Energy Co. (NYSE:DVN) by 2.2% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 68,593 shares of the energy company’s stock after selling 1,558 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Devon Energy were worth $2,245,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Cromwell Holdings LLC increased its holdings in 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 acquiring an additional 598 shares in the last quarter. Sierra Ocean LLC bought a new position in shares of Devon Energy in the fourth quarter worth approximately $43,000. True Wealth Design LLC increased its stake in shares of Devon Energy by 3,889.3% in the third quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock worth $44,000 after purchasing an additional 1,089 shares in the last quarter. Endeavor Private Wealth Inc. purchased a new position in shares of Devon Energy during the 4th quarter valued at $52,000. Finally, Thompson Investment Management Inc. lifted its stake in shares of Devon Energy by 60.0% during the 4th quarter. Thompson Investment Management Inc. now owns 1,600 shares of the energy company’s stock valued at $52,000 after buying an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on DVN shares. Cowen downgraded Devon Energy to a “hold” rating and lowered their price objective for the company from $46.00 to $45.00 in a research report on Tuesday, February 18th. Citigroup dropped their price target on Devon Energy from $48.00 to $46.00 and set a “buy” rating for the company in a research note on Monday, March 17th. StockNews.com upgraded shares of Devon Energy from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Truist Financial upped their target price on shares of Devon Energy from $42.00 to $44.00 and gave the stock a “hold” rating in a research report on Thursday, February 20th. Finally, Barclays lifted their price target on shares of Devon Energy from $43.00 to $44.00 and gave the company an “equal weight” rating in a report on Thursday, February 20th. Ten investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $48.29.

Devon Energy Price Performance

Devon Energy stock opened at $36.79 on Friday. The firm has a market capitalization of $23.87 billion, a PE ratio of 8.07, a price-to-earnings-growth ratio of 1.20 and a beta of 1.91. Devon Energy Co. has a 12-month low of $30.39 and a 12-month high of $55.09. The firm has a 50-day moving average price of $35.38 and a 200-day moving average price of $36.87. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57.

Devon Energy (NYSE:DVN) last announced 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. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. The business had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.25 billion. As a group, equities research analysts forecast that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Increases Dividend

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

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.