Fidelis Capital Partners LLC Purchases 3,277 Shares of Devon Energy Co. (NYSE:DVN)

Fidelis Capital Partners LLC lifted its position in Devon Energy Co. (NYSE:DVN) by 11.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 32,742 shares of the energy company’s stock after buying an additional 3,277 shares during the period. Fidelis Capital Partners LLC’s holdings in Devon Energy were worth $1,483,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wahed Invest LLC lifted its stake in shares of Devon Energy by 2.1% in the first quarter. Wahed Invest LLC now owns 7,933 shares of the energy company’s stock worth $469,000 after buying an additional 161 shares in the last quarter. Avior Wealth Management LLC lifted its stake in shares of Devon Energy by 4.9% in the third quarter. Avior Wealth Management LLC now owns 4,406 shares of the energy company’s stock worth $210,000 after buying an additional 207 shares in the last quarter. Cornerstone Wealth Management LLC lifted its stake in shares of Devon Energy by 1.9% in the third quarter. Cornerstone Wealth Management LLC now owns 11,540 shares of the energy company’s stock worth $550,000 after buying an additional 218 shares in the last quarter. MCF Advisors LLC lifted its position in Devon Energy by 9.0% during the third quarter. MCF Advisors LLC now owns 2,681 shares of the energy company’s stock valued at $128,000 after purchasing an additional 222 shares during the period. Finally, Clearbridge Investments LLC lifted its position in Devon Energy by 2.1% during the third quarter. Clearbridge Investments LLC now owns 11,887 shares of the energy company’s stock valued at $567,000 after purchasing an additional 239 shares during the period. Institutional investors own 69.72% of the company’s stock.

Devon Energy Price Performance

Shares of DVN traded down $0.24 during trading hours on Thursday, reaching $51.43. 5,167,779 shares of the stock traded hands, compared to its average volume of 8,043,624. The company has a current ratio of 1.07, a quick ratio of 0.99 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’s 50-day moving average price is $47.51 and its two-hundred day moving average price is $45.82. The company has a market cap of $32.66 billion, a P/E ratio of 8.89 and a beta of 2.19.

Devon Energy (NYSE:DVN) last released its earnings results on Tuesday, February 27th. The energy company reported $1.41 earnings per share 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 company had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $3.88 billion. During the same quarter in the previous year, the company earned $1.66 EPS. Devon Energy’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, analysts anticipate that Devon Energy Co. will post 5.14 earnings per share for the current year.

Devon Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date of this dividend was Thursday, March 14th. Devon Energy’s dividend payout ratio (DPR) is 15.09%.

Analyst Ratings Changes

A number of brokerages recently weighed in on DVN. Truist Financial lowered their price objective on shares of Devon Energy from $69.00 to $66.00 and set a “buy” rating on the stock in a research report on Friday, April 5th. UBS Group increased their price objective on shares of Devon Energy from $48.00 to $57.00 and gave the company a “neutral” rating in a research report on Wednesday, April 10th. Mizuho lowered their price objective on shares of Devon Energy from $54.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, January 11th. Piper Sandler lowered their price objective on shares of Devon Energy from $61.00 to $59.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 24th. Finally, Barclays started coverage on shares of Devon Energy in a research report on Wednesday, April 10th. They issued an “equal weight” rating and a $59.00 price target on the stock. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.89.

Devon Energy 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.