Team Hewins LLC Takes $252,000 Position in Devon Energy Co. (NYSE:DVN)

Team Hewins LLC acquired a new position in shares of Devon Energy Co. (NYSE:DVN) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 5,556 shares of the energy company’s stock, valued at approximately $252,000.

Several other large investors have also recently bought and sold shares of the business. Oxford Asset Management LLP acquired a new position in shares of Devon Energy during the 4th quarter worth $408,000. Avantax Planning Partners Inc. purchased a new stake in Devon Energy during the fourth quarter worth about $352,000. TCW Group Inc. purchased a new position in Devon Energy in the fourth quarter valued at about $463,000. US Bancorp DE increased its holdings in Devon Energy by 7.6% in the fourth quarter. US Bancorp DE now owns 137,359 shares of the energy company’s stock valued at $6,222,000 after buying an additional 9,647 shares in the last quarter. Finally, Prospector Partners LLC lifted its position in shares of Devon Energy by 15.9% during the 4th quarter. Prospector Partners LLC now owns 52,655 shares of the energy company’s stock valued at $2,385,000 after acquiring an additional 7,230 shares during the period. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Tana K. Cashion sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $51.04, for a total value of $1,020,800.00. Following the transaction, the executive vice president now directly owns 104,182 shares in the company, valued at approximately $5,317,449.28. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.63% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

DVN has been the subject of several research analyst reports. Wells Fargo & Company raised Devon Energy from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $46.00 to $59.00 in a research note on Monday, April 1st. Truist Financial decreased their price objective on shares of Devon Energy from $69.00 to $67.00 and set a “buy” rating on the stock in a research report on Friday, May 3rd. UBS Group raised their target price on shares of Devon Energy from $48.00 to $57.00 and gave the company a “neutral” rating in a report on Wednesday, April 10th. Barclays began coverage on shares of Devon Energy in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $59.00 price target on the stock. Finally, Citigroup raised their price objective on shares of Devon Energy from $55.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Devon Energy currently has a consensus rating of “Moderate Buy” and an average target price of $58.83.

Devon Energy Trading Down 0.2 %

Shares of DVN stock traded down $0.08 during trading hours on Friday, hitting $48.15. 4,039,375 shares of the company were exchanged, compared to its average volume of 5,924,975. The firm has a fifty day moving average of $50.87 and a 200 day moving average of $46.54. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 0.46. Devon Energy Co. has a 1 year low of $40.47 and a 1 year high of $55.09. The firm has a market cap of $30.43 billion, a PE ratio of 9.19 and a beta of 2.15.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Wednesday, May 1st. The energy company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.06. Devon Energy had a net margin of 22.27% and a return on equity of 29.02%. The company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.64 billion. During the same quarter last year, the firm posted $1.46 earnings per share. Devon Energy’s revenue was down 5.9% on a year-over-year basis. Analysts expect that Devon Energy Co. will post 5.21 earnings per share for the current year.

Devon Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date of this dividend is Friday, June 14th. Devon Energy’s dividend payout ratio (DPR) is presently 16.79%.

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.