Mitchell Mcleod Pugh & Williams Inc. Has $369,000 Stake in Devon Energy Co. (NYSE:DVN)

Mitchell Mcleod Pugh & Williams Inc. reduced its position in shares of Devon Energy Co. (NYSE:DVN) by 7.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,149 shares of the energy company’s stock after selling 700 shares during the quarter. Mitchell Mcleod Pugh & Williams Inc.’s holdings in Devon Energy were worth $369,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in DVN. Cornerstone Wealth Management LLC increased its stake in shares of Devon Energy by 1.9% in the third quarter. Cornerstone Wealth Management LLC now owns 11,540 shares of the energy company’s stock worth $550,000 after purchasing an additional 218 shares during the period. Clearbridge Investments LLC grew its stake in shares of Devon Energy by 2.1% in the third quarter. Clearbridge Investments LLC now owns 11,887 shares of the energy company’s stock worth $567,000 after acquiring an additional 239 shares during the last quarter. Sound Income Strategies LLC increased its position in Devon Energy by 60.7% during the fourth quarter. Sound Income Strategies LLC now owns 675 shares of the energy company’s stock worth $31,000 after acquiring an additional 255 shares during the period. Kestra Private Wealth Services LLC boosted its holdings in Devon Energy by 0.8% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 34,216 shares of the energy company’s stock valued at $1,632,000 after purchasing an additional 256 shares during the period. Finally, S. R. Schill & Associates increased its holdings in shares of Devon Energy by 3.8% during the 4th quarter. S. R. Schill & Associates now owns 7,784 shares of the energy company’s stock worth $353,000 after purchasing an additional 282 shares during the period. 69.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Piper Sandler lifted their target price on Devon Energy from $59.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Stifel Nicolaus lifted their price target on shares of Devon Energy from $65.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Truist Financial raised their price objective on shares of Devon Energy from $66.00 to $69.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. Barclays assumed coverage on shares of Devon Energy in a research report on Wednesday, April 10th. They issued an “equal weight” rating and a $59.00 price target for the company. Finally, Scotiabank increased their target price on Devon Energy from $53.00 to $67.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Devon Energy presently has an average rating of “Moderate Buy” and an average price target of $58.33.

Devon Energy Stock Up 0.7 %

NYSE:DVN opened at $53.08 on Tuesday. The company has a market cap of $33.71 billion, a price-to-earnings ratio of 9.10 and a beta of 2.19. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.99 and a current ratio of 1.07. The stock’s fifty day moving average price is $49.07 and its two-hundred day moving average price is $46.22. Devon Energy Co. has a 52-week low of $40.47 and a 52-week high of $55.09.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, February 27th. The energy company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.02. The business had revenue of $4.15 billion for the quarter, compared to analyst estimates of $3.88 billion. Devon Energy had a return on equity of 31.72% and a net margin of 24.56%. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.66 earnings per share. On average, analysts anticipate that Devon Energy Co. will post 5.28 EPS for the current year.

Devon Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend was Thursday, March 14th. Devon Energy’s dividend payout ratio is 15.09%.

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.