Paragon Capital Management Ltd Boosts Stock Position in Devon Energy Co. (NYSE:DVN)

Paragon Capital Management Ltd boosted its position in Devon Energy Co. (NYSE:DVN) by 2.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,439 shares of the energy company’s stock after buying an additional 400 shares during the period. Paragon Capital Management Ltd’s holdings in Devon Energy were worth $505,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. SkyOak Wealth LLC lifted its holdings in Devon Energy by 4.1% in the second quarter. SkyOak Wealth LLC now owns 6,297 shares of the energy company’s stock valued at $298,000 after acquiring an additional 250 shares during the period. Riversedge Advisors LLC raised its stake in shares of Devon Energy by 3.6% during the 3rd quarter. Riversedge Advisors LLC now owns 7,336 shares of the energy company’s stock worth $287,000 after buying an additional 253 shares during the period. Modus Advisors LLC raised its stake in shares of Devon Energy by 2.4% during the 3rd quarter. Modus Advisors LLC now owns 11,439 shares of the energy company’s stock worth $447,000 after buying an additional 272 shares during the period. Lummis Asset Management LP raised its stake in shares of Devon Energy by 1.0% during the 2nd quarter. Lummis Asset Management LP now owns 30,055 shares of the energy company’s stock worth $1,425,000 after buying an additional 290 shares during the period. Finally, Hazlett Burt & Watson Inc. raised its stake in shares of Devon Energy by 29.8% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock worth $49,000 after buying an additional 290 shares during the period. 69.72% of the stock is owned by institutional investors and hedge funds.

Devon Energy Stock Performance

Devon Energy stock opened at $38.45 on Thursday. The firm has a market capitalization of $25.26 billion, a P/E ratio of 7.13, a PEG ratio of 1.14 and a beta of 2.00. The stock has a fifty day moving average price of $35.50 and a 200 day moving average price of $40.40. Devon Energy Co. has a 52 week low of $30.39 and a 52 week high of $55.09. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, topping the consensus estimate of $1.09 by $0.01. The company had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.72 billion. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The firm’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.65 earnings per share. Equities research analysts anticipate that Devon Energy Co. will post 4.72 earnings per share for the current year.

Devon Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders 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 annualized dividend and a yield of 2.29%. Devon Energy’s dividend payout ratio is presently 16.33%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on DVN shares. Truist Financial dropped their price target on Devon Energy from $43.00 to $42.00 and set a “hold” rating for the company in a research report on Monday. Barclays dropped their target price on Devon Energy from $55.00 to $46.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. UBS Group dropped their target price on Devon Energy from $53.00 to $47.00 and set a “neutral” rating for the company in a report on Wednesday, September 18th. Susquehanna dropped their target price on Devon Energy from $63.00 to $62.00 and set a “positive” rating for the company in a report on Friday, October 18th. Finally, TD Cowen lowered their price target on Devon Energy from $54.00 to $46.00 and set a “hold” rating for the company in a report on Tuesday, November 5th. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.27.

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.