Acrisure Capital Management LLC purchased a new stake in shares of Devon Energy Co. (NYSE:DVN – Get Rating) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 3,479 shares of the energy company’s stock, valued at approximately $214,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. WFA of San Diego LLC acquired a new position in shares of Devon Energy during the 4th quarter valued at about $25,000. Tyler Stone Wealth Management purchased a new stake in Devon Energy in the 4th quarter valued at about $25,000. Tradewinds Capital Management LLC raised its holdings in Devon Energy by 115.0% in the 4th quarter. Tradewinds Capital Management LLC now owns 430 shares of the energy company’s stock valued at $26,000 after buying an additional 230 shares during the period. Canada Pension Plan Investment Board purchased a new stake in Devon Energy in the 1st quarter valued at about $26,000. Finally, Romano Brothers AND Company purchased a new stake in Devon Energy in the 4th quarter valued at about $29,000. Institutional investors and hedge funds own 78.08% of the company’s stock.
Devon Energy Stock Performance
Shares of DVN opened at $49.80 on Friday. The stock has a 50 day moving average price of $50.42 and a 200 day moving average price of $55.50. The company has a quick ratio of 1.02, a current ratio of 1.09 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $32.57 billion, a price-to-earnings ratio of 5.43, a price-to-earnings-growth ratio of 0.16 and a beta of 2.33. Devon Energy Co. has a 52-week low of $44.03 and a 52-week high of $78.82.
Devon Energy Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 15th will be issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 5.78%. The ex-dividend date is Wednesday, June 14th. Devon Energy’s dividend payout ratio (DPR) is 8.72%.
Insider Activity
In other news, EVP Dennis C. Cameron sold 8,292 shares of the firm’s stock in a transaction that occurred on Friday, May 5th. The shares were sold at an average price of $49.97, for a total transaction of $414,351.24. Following the transaction, the executive vice president now directly owns 218,418 shares in the company, valued at $10,914,347.46. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.63% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on DVN. Mizuho reduced their price objective on shares of Devon Energy from $71.00 to $65.00 in a report on Friday, May 19th. Sanford C. Bernstein cut their price target on shares of Devon Energy from $71.00 to $64.00 in a research note on Wednesday, May 17th. Barclays cut their price target on shares of Devon Energy from $82.00 to $67.00 in a research note on Friday, March 17th. UBS Group began coverage on shares of Devon Energy in a research note on Wednesday, April 19th. They set a “neutral” rating and a $60.00 price target on the stock. Finally, Truist Financial cut their price target on shares of Devon Energy from $87.00 to $81.00 in a research note on Wednesday, May 10th. One analyst has rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $67.39.
Devon Energy Company Profile
Devon Energy Corporation, an independent energy company, explores for, develops, and produces oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Anadarko, Williston, Eagle Ford, and Powder River Basin. The company was incorporated in 1971 and is headquartered in Oklahoma City, Oklahoma.
Read More
- Get a free copy of the StockNews.com research report on Devon Energy (DVN)
- MarketBeat Week in Review – 6/12 – 6/16
- Micron Building Goodwill In Asia, Near $2 Billion Investment
- Is Twilio On The Verge Of A Comeback?
- Broadcom: All-Time Highs But Still Good Value
- Leverage AI And Build A Fortress Portfolio With Adobe
Want to see what other hedge funds are holding DVN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Devon Energy Co. (NYSE:DVN – Get Rating).
Receive News & Ratings for Devon Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Devon Energy and related companies with MarketBeat.com's FREE daily email newsletter.
