Truist Financial Corp lessened its holdings in Devon Energy Co. (NYSE:DVN – Free Report) by 39.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 240,856 shares of the energy company’s stock after selling 159,122 shares during the quarter. Truist Financial Corp’s holdings in Devon Energy were worth $10,911,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in the business. Pacer Advisors Inc. grew its holdings in Devon Energy by 1,279.7% in the 4th quarter. Pacer Advisors Inc. now owns 6,145,605 shares of the energy company’s stock worth $278,396,000 after acquiring an additional 5,700,167 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new stake in Devon Energy in the 3rd quarter worth $113,793,000. Morgan Stanley grew its holdings in Devon Energy by 23.6% in the 3rd quarter. Morgan Stanley now owns 11,647,104 shares of the energy company’s stock worth $555,567,000 after acquiring an additional 2,220,194 shares during the last quarter. International Assets Investment Management LLC grew its holdings in Devon Energy by 3,885.4% in the 4th quarter. International Assets Investment Management LLC now owns 1,695,206 shares of the energy company’s stock worth $76,793,000 after acquiring an additional 1,652,671 shares during the last quarter. Finally, Schroder Investment Management Group grew its holdings in Devon Energy by 61.0% in the 3rd quarter. Schroder Investment Management Group now owns 2,673,781 shares of the energy company’s stock worth $127,539,000 after acquiring an additional 1,013,353 shares during the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.
Devon Energy Stock Down 0.1 %
NYSE:DVN traded down $0.06 during mid-day trading on Thursday, hitting $50.34. 13,266,694 shares of the company’s stock were exchanged, compared to its average volume of 7,888,626. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.07 and a quick ratio of 0.99. The company has a market cap of $31.97 billion, a PE ratio of 8.74 and a beta of 2.16. Devon Energy Co. has a one year low of $40.47 and a one year high of $55.09. The business has a fifty day moving average price of $49.36 and a 200 day moving average price of $46.27.
Devon Energy (NYSE:DVN – Get Free Report) last issued its earnings results on Wednesday, May 1st. The energy company reported $1.16 earnings per share (EPS) 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 analysts’ expectations of $3.64 billion. Devon Energy had a net margin of 24.56% and a return on equity of 31.72%. The business’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.46 earnings per share. Equities analysts predict that Devon Energy Co. will post 5.28 EPS for the current year.
Devon Energy Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $0.22 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.88 annualized dividend and a yield of 1.75%. Devon Energy’s dividend payout ratio (DPR) is presently 15.09%.
Analysts Set New Price Targets
DVN has been the topic of a number of recent analyst reports. Morgan Stanley raised their price target on shares of Devon Energy from $49.00 to $50.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Scotiabank lifted their target price on shares of Devon Energy from $53.00 to $67.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th. Mizuho lifted their target price on shares of Devon Energy from $53.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday. UBS Group lifted their target price on shares of Devon Energy from $48.00 to $57.00 and gave the company a “neutral” rating in a research note on Wednesday, April 10th. Finally, Truist Financial lifted their target price on shares of Devon Energy from $66.00 to $69.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $58.56.
View Our Latest Stock Analysis on Devon Energy
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.
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