Nordea Investment Management AB Has $2.15 Million Stock Holdings in Devon Energy Co. (NYSE:DVN)

Nordea Investment Management AB increased its position in shares of Devon Energy Co. (NYSE:DVN) by 70.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,861 shares of the energy company’s stock after acquiring an additional 27,114 shares during the period. Nordea Investment Management AB’s holdings in Devon Energy were worth $2,145,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital Performance Advisors LLP purchased a new stake in shares of Devon Energy during the third quarter worth $35,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Devon Energy during the third quarter worth $39,000. True Wealth Design LLC raised its holdings in shares of Devon Energy by 3,889.3% during the third quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock worth $44,000 after acquiring an additional 1,089 shares in the last quarter. Hazlett Burt & Watson Inc. raised its holdings in shares of Devon Energy by 29.8% during the third quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock worth $49,000 after acquiring 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 third quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock worth $50,000 after acquiring an additional 480 shares in the last quarter. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Devon Energy Stock Up 2.7 %

DVN stock opened at $36.10 on Friday. Devon Energy Co. has a twelve month low of $30.39 and a twelve month high of $55.09. The company has a market cap of $23.71 billion, a PE ratio of 6.70, a price-to-earnings-growth ratio of 1.07 and a beta of 1.99. The business’s 50-day simple moving average is $35.62 and its 200 day simple moving average is $40.60. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61.

Devon Energy (NYSE:DVN) last released its earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.01. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The business had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same period last year, the business earned $1.65 earnings per share. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, research analysts anticipate that Devon Energy Co. will post 4.79 earnings per share for the current year.

Devon Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date was Friday, December 13th. Devon Energy’s dividend payout ratio (DPR) is presently 16.33%.

Wall Street Analyst Weigh In

DVN has been the subject of several recent research reports. Wells Fargo & Company cut their price objective on Devon Energy from $49.00 to $43.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Mizuho cut their target price on Devon Energy from $51.00 to $47.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. TD Cowen cut their target price on Devon Energy from $54.00 to $46.00 and set a “hold” rating on the stock in a report on Tuesday, November 5th. Evercore ISI cut their target price on Devon Energy from $55.00 to $50.00 and set an “in-line” rating on the stock in a report on Monday, September 30th. Finally, Barclays cut their target price on Devon Energy from $55.00 to $46.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. Eleven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $49.48.

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.