Smith Anglin Financial LLC Takes $228,000 Position in Devon Energy Co. (NYSE:DVN)

Smith Anglin Financial LLC bought a new position in Devon Energy Co. (NYSE:DVN) in the fourth quarter, Holdings Channel reports. The firm bought 6,980 shares of the energy company’s stock, valued at approximately $228,000.

A number of other institutional investors also recently bought and sold shares of DVN. EnCap Energy Capital Fund XI L.P. acquired a new stake in Devon Energy in the 3rd quarter worth approximately $461,857,000. EnCap Partners GP LLC purchased a new position in Devon Energy during the 3rd quarter worth approximately $408,653,000. EnCap Energy Capital Fund X L.P. purchased a new position in Devon Energy during the 3rd quarter worth approximately $230,928,000. International Assets Investment Management LLC raised its position in Devon Energy by 4,125.7% during the 3rd quarter. International Assets Investment Management LLC now owns 2,280,961 shares of the energy company’s stock worth $89,231,000 after buying an additional 2,226,983 shares during the last quarter. Finally, Pacer Advisors Inc. raised its position in Devon Energy by 16.9% during the 3rd quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company’s stock worth $453,446,000 after buying an additional 1,677,652 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Devon Energy Stock Up 0.9 %

Shares of NYSE:DVN opened at $37.53 on Wednesday. The firm’s 50-day moving average is $35.58 and its two-hundred day moving average is $40.49. 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 1 year low of $30.39 and a 1 year high of $55.09. The firm has a market capitalization of $24.65 billion, a PE ratio of 6.96, a price-to-earnings-growth ratio of 1.07 and a beta of 2.00.

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 net margin of 21.71% and a return on equity of 24.73%. The firm had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same period in the prior year, the firm earned $1.65 earnings per share. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. Analysts predict that Devon Energy Co. will post 4.79 EPS for the current year.

Devon Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.34%. Devon Energy’s payout ratio is 16.33%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on DVN shares. Barclays reduced their price target on shares of Devon Energy from $55.00 to $46.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. Wells Fargo & Company reduced their price target on shares of Devon Energy from $49.00 to $43.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. BMO Capital Markets reduced their price target on shares of Devon Energy from $52.00 to $48.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Piper Sandler cut their target price on shares of Devon Energy from $57.00 to $53.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Finally, JPMorgan Chase & Co. lowered shares of Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 target price for the company. in a report on Thursday, December 5th. Nine research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Devon Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.27.

About Devon Energy

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.