Everence Capital Management Inc. Boosts Position in Devon Energy Co. (NYSE:DVN)

Everence Capital Management Inc. grew its holdings in shares of Devon Energy Co. (NYSE:DVN) by 19.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,140 shares of the energy company’s stock after buying an additional 5,380 shares during the quarter. Everence Capital Management Inc.’s holdings in Devon Energy were worth $1,085,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new stake in Devon Energy during the 3rd quarter worth $35,000. Future Financial Wealth Managment LLC acquired a new position in shares of Devon Energy during the third quarter worth about $39,000. True Wealth Design LLC boosted its position in shares of Devon Energy by 3,889.3% in the third quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock worth $44,000 after buying an additional 1,089 shares during the period. Hazlett Burt & Watson Inc. grew its stake in shares of Devon Energy by 29.8% in the third quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock valued at $49,000 after buying an additional 290 shares in the last quarter. Finally, Activest Wealth Management raised its holdings in shares of Devon Energy by 60.4% during the 3rd quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock valued at $50,000 after buying an additional 480 shares during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on DVN shares. Raymond James lowered their price objective on shares of Devon Energy from $58.00 to $51.00 in a research report on Tuesday, November 5th. Truist Financial lowered shares of Devon Energy from a “buy” rating to a “hold” rating and cut their price objective for the stock from $49.00 to $43.00 in a report on Thursday, November 7th. Barclays lowered their target price on Devon Energy from $55.00 to $46.00 and set an “equal weight” rating for the company in a research note on Thursday, October 3rd. UBS Group cut their price target on Devon Energy from $53.00 to $47.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 18th. Finally, StockNews.com upgraded Devon Energy from a “sell” rating to a “hold” rating in a research note on Friday. Eleven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Devon Energy has a consensus rating of “Moderate Buy” and an average price target of $49.81.

Devon Energy Trading Up 1.6 %

NYSE:DVN opened at $33.93 on Friday. The firm has a market capitalization of $22.29 billion, a P/E ratio of 6.30, a P/E/G ratio of 1.10 and a beta of 1.99. The business has a 50 day simple moving average of $35.97 and a 200 day simple moving average of $41.04. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01. Devon Energy Co. has a 12-month low of $30.39 and a 12-month high of $55.09.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.01. The company had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.72 billion. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.65 earnings per share. Equities research analysts predict that Devon Energy Co. will post 4.79 EPS 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 was Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.59%. Devon Energy’s dividend payout ratio (DPR) is presently 16.33%.

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.