Signaturefd LLC Has $589,000 Holdings in Devon Energy Co. (NYSE:DVN)

Signaturefd LLC boosted its holdings in shares of Devon Energy Co. (NYSE:DVN) by 12.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,001 shares of the energy company’s stock after purchasing an additional 1,958 shares during the period. Signaturefd LLC’s holdings in Devon Energy were worth $589,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of DVN. True Wealth Design LLC raised its holdings 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 valued at $44,000 after buying an additional 1,089 shares during the last quarter. Cromwell Holdings LLC increased its position in Devon Energy by 98.0% in the 4th quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company’s stock valued at $40,000 after acquiring an additional 598 shares in the last quarter. Activest Wealth Management raised its stake in shares of Devon Energy by 60.4% in the third quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock worth $50,000 after acquiring an additional 480 shares during the last quarter. Sierra Ocean LLC acquired a new position in shares of Devon Energy during the fourth quarter worth approximately $43,000. Finally, Endeavor Private Wealth Inc. bought a new stake in shares of Devon Energy during the fourth quarter valued at approximately $52,000. Institutional investors own 69.72% of the company’s stock.

Devon Energy Price Performance

Shares of DVN opened at $36.08 on Thursday. The stock has a 50 day simple moving average of $35.44 and a 200 day simple moving average of $37.13. Devon Energy Co. has a 52-week low of $30.39 and a 52-week high of $55.09. 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 firm has a market capitalization of $23.41 billion, a PE ratio of 7.91, a P/E/G ratio of 1.20 and a beta of 1.91.

Devon Energy (NYSE:DVN) last released its quarterly earnings results 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 analysts’ expectations of $4.25 billion. Sell-side analysts predict that Devon Energy Co. will post 4.85 EPS for the current fiscal year.

Devon Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date is Friday, March 14th. This is a boost from Devon Energy’s previous quarterly dividend of $0.22. Devon Energy’s dividend payout ratio is 21.05%.

Analyst Upgrades and Downgrades

DVN has been the subject of several research analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $50.00 price objective on shares of Devon Energy in a report on Friday, January 10th. Benchmark reaffirmed a “buy” rating and set a $44.00 price target on shares of Devon Energy in a research note on Thursday, February 20th. Wolfe Research upgraded Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price objective for the company in a research report on Friday, January 3rd. Citigroup dropped their price objective on Devon Energy from $48.00 to $46.00 and set a “buy” rating for the company in a report on Monday. Finally, Truist Financial raised their target price on shares of Devon Energy from $42.00 to $44.00 and gave the company a “hold” rating in a research note on Thursday, February 20th. Ten investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $48.46.

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.