Tower Research Capital LLC TRC Boosts Holdings in Devon Energy Co. (NYSE:DVN)

Tower Research Capital LLC TRC boosted its position in shares of Devon Energy Co. (NYSE:DVNFree Report) by 120.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 67,327 shares of the energy company’s stock after buying an additional 36,719 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Devon Energy were worth $3,050,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in DVN. Gamco Investors INC. ET AL lifted its position in shares of Devon Energy by 33.3% during the third quarter. Gamco Investors INC. ET AL now owns 14,806 shares of the energy company’s stock worth $706,000 after purchasing an additional 3,700 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Devon Energy by 2.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,416,416 shares of the energy company’s stock valued at $162,963,000 after acquiring an additional 91,210 shares in the last quarter. Pathstone Family Office LLC raised its holdings in shares of Devon Energy by 33.7% in the third quarter. Pathstone Family Office LLC now owns 68,638 shares of the energy company’s stock valued at $3,274,000 after acquiring an additional 17,294 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Devon Energy in the third quarter valued at about $27,000. Finally, Campbell & CO Investment Adviser LLC bought a new stake in shares of Devon Energy in the third quarter valued at about $963,000. 69.72% of the stock is currently owned by institutional investors.

Insider Activity at Devon Energy

In related news, EVP Tana K. Cashion sold 20,000 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $51.04, for a total value of $1,020,800.00. Following the completion of the transaction, the executive vice president now directly owns 104,182 shares of the company’s stock, valued at approximately $5,317,449.28. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.73% of the stock is owned by corporate insiders.

Devon Energy Trading Up 0.1 %

Shares of DVN stock opened at $46.80 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.04 and a quick ratio of 0.97. The company has a market cap of $29.57 billion, a price-to-earnings ratio of 8.93 and a beta of 2.08. The stock has a 50 day simple moving average of $50.66 and a 200-day simple moving average of $46.68. Devon Energy Co. has a 1-year low of $40.47 and a 1-year high of $55.09.

Devon Energy (NYSE:DVNGet Free Report) last announced its earnings results on Wednesday, May 1st. The energy company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.06. The business had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.64 billion. Devon Energy had a return on equity of 29.02% and a net margin of 22.27%. The business’s quarterly revenue was down 5.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.46 EPS. On average, equities research analysts expect that Devon Energy Co. will post 5.18 EPS for the current fiscal year.

Devon Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.88%. The ex-dividend date of this dividend is Friday, June 14th. Devon Energy’s payout ratio is 16.79%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. StockNews.com upgraded Devon Energy from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. Truist Financial decreased their price objective on Devon Energy from $69.00 to $67.00 and set a “buy” rating for the company in a report on Friday, May 3rd. Stifel Nicolaus boosted their target price on shares of Devon Energy from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, April 23rd. Mizuho boosted their target price on shares of Devon Energy from $57.00 to $61.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Finally, Piper Sandler boosted their target price on shares of Devon Energy from $60.00 to $61.00 and gave the stock an “overweight” rating in a report on Tuesday, May 14th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Devon Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.83.

Get Our Latest Analysis on DVN

Devon Energy Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Devon Energy (NYSE:DVN)

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