CVA Family Office LLC Has $57,000 Holdings in Devon Energy Co. (NYSE:DVN)

CVA Family Office LLC lowered its position in Devon Energy Co. (NYSE:DVN) by 42.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,519 shares of the energy company’s stock after selling 1,113 shares during the quarter. CVA Family Office LLC’s holdings in Devon Energy were worth $57,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of DVN. Avestar Capital LLC bought a new position in Devon Energy during the fourth quarter worth about $235,000. Asset Management One Co. Ltd. boosted its position in Devon Energy by 1.4% during the 4th quarter. Asset Management One Co. Ltd. now owns 246,671 shares of the energy company’s stock worth $7,696,000 after buying an additional 3,424 shares during the period. Vontobel Holding Ltd. raised its holdings in Devon Energy by 225.5% during the 4th quarter. Vontobel Holding Ltd. now owns 34,295 shares of the energy company’s stock worth $1,122,000 after purchasing an additional 23,759 shares during the last quarter. V Square Quantitative Management LLC increased its stake in shares of Devon Energy by 11.8% in the 4th quarter. V Square Quantitative Management LLC now owns 10,284 shares of the energy company’s stock valued at $337,000 after acquiring an additional 1,083 shares in the last quarter. Finally, Chevy Chase Trust Holdings LLC increased its stake in shares of Devon Energy by 2.7% in the 4th quarter. Chevy Chase Trust Holdings LLC now owns 344,914 shares of the energy company’s stock valued at $11,289,000 after acquiring an additional 8,971 shares in the last quarter. 69.72% of the stock is owned by institutional investors.

Devon Energy Trading Up 2.2%

Shares of DVN opened at $35.09 on Monday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01. Devon Energy Co. has a 1 year low of $25.89 and a 1 year high of $49.35. The company has a 50 day simple moving average of $31.38 and a two-hundred day simple moving average of $33.59. The firm has a market cap of $22.53 billion, a P/E ratio of 7.70, a price-to-earnings-growth ratio of 1.20 and a beta of 1.02.

Devon Energy (NYSE:DVN) last released its earnings results on Tuesday, May 6th. The energy company reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.06). The business had revenue of $4.45 billion during the quarter, compared to analysts’ expectations of $4.31 billion. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. The business’s revenue for the quarter was up 23.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.16 EPS. On average, equities analysts expect that Devon Energy Co. will post 4.85 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.74%. The ex-dividend date is Friday, June 13th. Devon Energy’s dividend payout ratio is presently 21.87%.

Analyst Ratings Changes

DVN has been the subject of a number of recent research reports. Piper Sandler decreased their price target on shares of Devon Energy from $56.00 to $53.00 and set an “overweight” rating for the company in a research note on Tuesday, May 13th. Cowen lowered shares of Devon Energy to a “hold” rating and cut their price objective for the company from $46.00 to $45.00 in a research report on Tuesday, February 18th. Morgan Stanley lifted their price target on shares of Devon Energy from $42.00 to $44.00 and gave the stock an “overweight” rating in a research note on Friday, May 23rd. UBS Group decreased their target price on shares of Devon Energy from $41.00 to $35.00 and set a “neutral” rating on the stock in a research note on Monday, April 7th. Finally, Raymond James set a $40.00 price objective on shares of Devon Energy in a research report on Monday, April 21st. Ten analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Devon Energy presently has a consensus rating of “Moderate Buy” and an average price target of $43.71.

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.