Devon Energy Co. (NYSE:DVN) Shares Acquired by Flagship Harbor Advisors LLC

Flagship Harbor Advisors LLC boosted its stake in shares of Devon Energy Co. (NYSE:DVN) by 56.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,860 shares of the energy company’s stock after purchasing an additional 7,857 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Devon Energy were worth $715,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in DVN. Capital Performance Advisors LLP acquired a new position in shares of Devon Energy during the third quarter valued at $35,000. Future Financial Wealth Managment LLC bought a new stake in Devon Energy in the 3rd quarter valued at about $39,000. True Wealth Design LLC boosted its stake in Devon Energy by 3,889.3% during the 3rd quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock valued at $44,000 after purchasing an additional 1,089 shares during the period. Hazlett Burt & Watson Inc. grew its position in Devon Energy by 29.8% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock worth $49,000 after purchasing an additional 290 shares during the last quarter. Finally, Activest Wealth Management increased its stake in shares of Devon Energy by 60.4% in the third quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock valued at $50,000 after purchasing an additional 480 shares during the period. 69.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Mizuho decreased their price objective on Devon Energy from $51.00 to $47.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Truist Financial decreased their price target on Devon Energy from $43.00 to $42.00 and set a “hold” rating for the company in a research note on Monday, January 13th. Piper Sandler cut their price objective on shares of Devon Energy from $57.00 to $53.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. TD Cowen lowered their target price on shares of Devon Energy from $54.00 to $46.00 and set a “hold” rating on the stock in a research note on Tuesday, November 5th. Finally, BMO Capital Markets dropped their price target on shares of Devon Energy from $52.00 to $48.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $49.41.

Devon Energy Price Performance

DVN stock opened at $35.33 on Tuesday. Devon Energy Co. has a one year low of $30.39 and a one year high of $55.09. The firm has a 50-day moving average of $35.20 and a two-hundred day moving average of $39.78. The firm has a market capitalization of $23.20 billion, a PE ratio of 6.55, a P/E/G ratio of 1.21 and a beta of 2.00. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, beating the consensus estimate of $1.09 by $0.01. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The business had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter in the prior year, the firm earned $1.65 EPS. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. On average, analysts forecast that Devon Energy Co. will post 4.7 earnings per share for the current year.

Devon Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.49%. Devon Energy’s dividend payout ratio is 16.33%.

About Devon Energy

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.