Devon Energy Co. (NYSE:DVN) Shares Bought by Syon Capital LLC

Syon Capital LLC raised its position in Devon Energy Co. (NYSE:DVN) by 5.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,957 shares of the energy company’s stock after acquiring an additional 791 shares during the quarter. Syon Capital LLC’s holdings in Devon Energy were worth $678,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Morgan Stanley grew its position in shares of Devon Energy by 23.6% during the third quarter. Morgan Stanley now owns 11,647,104 shares of the energy company’s stock worth $555,567,000 after buying an additional 2,220,194 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Devon Energy by 5.1% during the third quarter. Victory Capital Management Inc. now owns 8,470,996 shares of the energy company’s stock worth $404,067,000 after purchasing an additional 411,777 shares during the last quarter. Raymond James & Associates lifted its stake in Devon Energy by 5.0% during the third quarter. Raymond James & Associates now owns 8,429,670 shares of the energy company’s stock worth $402,095,000 after purchasing an additional 402,055 shares during the last quarter. Northern Trust Corp lifted its stake in Devon Energy by 1.2% during the third quarter. Northern Trust Corp now owns 6,774,537 shares of the energy company’s stock worth $323,145,000 after purchasing an additional 82,607 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its stake in Devon Energy by 1,279.7% during the fourth quarter. Pacer Advisors Inc. now owns 6,145,605 shares of the energy company’s stock worth $278,396,000 after purchasing an additional 5,700,167 shares during the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Trading Up 0.2 %

NYSE DVN traded up $0.10 on Friday, reaching $52.71. The company had a trading volume of 4,614,757 shares, compared to its average volume of 7,856,843. The stock’s 50 day moving average is $48.70 and its 200-day moving average is $46.13. The stock has a market cap of $33.47 billion, a price-to-earnings ratio of 8.97 and a beta of 2.19. 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.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Tuesday, February 27th. The energy company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.02. Devon Energy had a return on equity of 31.72% and a net margin of 24.56%. The company had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $3.88 billion. During the same period in the prior year, the company earned $1.66 earnings per share. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. Equities analysts predict that Devon Energy Co. will post 5.25 earnings per share for the current year.

Devon Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a dividend of $0.44 per share. The ex-dividend date was Thursday, March 14th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.34%. Devon Energy’s payout ratio is presently 15.09%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on DVN. Truist Financial raised their target price on Devon Energy from $66.00 to $69.00 and gave the company a “buy” rating in a research note on Monday. Susquehanna lifted their price target on Devon Energy from $52.00 to $65.00 and gave the stock a “positive” rating in a research note on Monday. Scotiabank lifted their price target on Devon Energy from $53.00 to $67.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 11th. Mizuho dropped their price target on Devon Energy from $54.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, January 11th. Finally, Wells Fargo & Company upgraded Devon Energy from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $46.00 to $59.00 in a research report on Monday, April 1st. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Devon Energy has a consensus 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.