Devon Energy Co. (NYSE:DVN) Shares Acquired by Signaturefd LLC

Signaturefd LLC lifted its stake in shares of Devon Energy Co. (NYSE:DVN) by 10.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 15,765 shares of the energy company’s stock after purchasing an additional 1,459 shares during the quarter. Signaturefd LLC’s holdings in Devon Energy were worth $714,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Lindbrook Capital LLC boosted its position in shares of Devon Energy by 60.3% in the 4th quarter. Lindbrook Capital LLC now owns 3,072 shares of the energy company’s stock worth $139,000 after buying an additional 1,156 shares in the last quarter. Grandfield & Dodd LLC boosted its position in shares of Devon Energy by 1.0% in the 4th quarter. Grandfield & Dodd LLC now owns 295,048 shares of the energy company’s stock worth $13,366,000 after buying an additional 2,815 shares in the last quarter. abrdn plc boosted its position in shares of Devon Energy by 97.5% in the 4th quarter. abrdn plc now owns 312,685 shares of the energy company’s stock worth $14,165,000 after buying an additional 154,351 shares in the last quarter. J.W. Cole Advisors Inc. boosted its position in shares of Devon Energy by 5.3% in the 4th quarter. J.W. Cole Advisors Inc. now owns 89,742 shares of the energy company’s stock worth $4,065,000 after buying an additional 4,492 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. purchased a new stake in shares of Devon Energy in the 4th quarter worth about $197,000. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Devon Energy Stock Up 0.8 %

Shares of NYSE:DVN opened at $52.57 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 1.07 and a debt-to-equity ratio of 0.46. Devon Energy Co. has a 52-week low of $40.47 and a 52-week high of $55.09. The company has a 50 day moving average of $48.30 and a two-hundred day moving average of $46.05. The company has a market capitalization of $33.38 billion, a price-to-earnings ratio of 9.02 and a beta of 2.19.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, February 27th. The energy company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.02. Devon Energy had a net margin of 24.56% and a return on equity of 31.72%. The company had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $3.88 billion. During the same quarter last year, the company earned $1.66 earnings per share. Devon Energy’s revenue for the quarter was down 3.6% on a year-over-year basis. As a group, analysts forecast that Devon Energy Co. will post 5.14 earnings per share for the current fiscal year.

Devon Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 3.35%. The ex-dividend date was Thursday, March 14th. Devon Energy’s dividend payout ratio (DPR) is 15.09%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on DVN shares. JPMorgan Chase & Co. upped their target price on shares of Devon Energy from $57.00 to $62.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Piper Sandler upped their target price on shares of Devon Energy from $59.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Mizuho reduced their target price on shares of Devon Energy from $54.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, January 11th. UBS Group upped their target price on shares of Devon Energy from $48.00 to $57.00 and gave the company a “neutral” rating in a report on Wednesday, April 10th. Finally, Wells Fargo & Company upgraded shares of Devon Energy from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $46.00 to $59.00 in a report on Monday, April 1st. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Devon Energy presently has an average rating of “Moderate Buy” and a consensus price target of $58.33.

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.