Devon Energy Co. (NYSE:DVN) Stock Position Raised by ORG Partners LLC

ORG Partners LLC lifted its position in Devon Energy Co. (NYSE:DVN) by 140.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,863 shares of the energy company’s stock after acquiring an additional 1,087 shares during the quarter. ORG Partners LLC’s holdings in Devon Energy were worth $85,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. NewEdge Wealth LLC purchased a new stake in shares of Devon Energy in the 4th quarter valued at approximately $331,000. Ellis Investment Partners LLC lifted its position in shares of Devon Energy by 4.6% in the 4th quarter. Ellis Investment Partners LLC now owns 49,398 shares of the energy company’s stock valued at $2,238,000 after acquiring an additional 2,182 shares in the last quarter. Citizens National Bank Trust Department purchased a new stake in shares of Devon Energy in the 4th quarter valued at approximately $494,000. Wealth Effects LLC lifted its position in Devon Energy by 7.2% in the 4th quarter. Wealth Effects LLC now owns 16,606 shares of the energy company’s stock worth $752,000 after buying an additional 1,122 shares in the last quarter. Finally, Sapient Capital LLC purchased a new stake in Devon Energy in the 4th quarter worth approximately $876,000. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Performance

NYSE:DVN opened at $53.42 on Monday. Devon Energy Co. has a 1 year low of $40.47 and a 1 year high of $56.19. The firm’s fifty day simple moving average is $46.84 and its 200 day simple moving average is $45.72. The company has a current ratio of 1.07, a quick ratio of 0.99 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $33.92 billion, a PE ratio of 9.16 and a beta of 2.19.

Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, February 27th. The energy company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.02. Devon Energy had a net margin of 24.56% and a return on equity of 31.72%. The business had revenue of $4.15 billion for the quarter, compared to analyst estimates of $3.88 billion. During the same period last year, the business posted $1.66 EPS. Devon Energy’s revenue was down 3.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Devon Energy Co. will post 5.02 EPS for the current year.

Devon Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a $0.44 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.76 annualized dividend and a yield of 3.29%. Devon Energy’s dividend payout ratio is 15.09%.

Wall Street Analyst Weigh In

DVN has been the subject of a number of research analyst reports. Raymond James cut their target price on shares of Devon Energy from $53.00 to $52.00 and set an “outperform” rating for the company in a research report on Wednesday, January 24th. Wells Fargo & Company upgraded shares of Devon Energy from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $46.00 to $59.00 in a research report on Monday, April 1st. Stifel Nicolaus cut their target price on shares of Devon Energy from $75.00 to $65.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Mizuho cut their target price on shares of Devon Energy from $54.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, January 11th. Finally, Morgan Stanley increased their target price on shares of Devon Energy from $48.00 to $49.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Devon Energy currently has an average rating of “Moderate Buy” and a consensus target price of $57.83.

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.