8,222 Shares in Devon Energy Co. (NYSE:DVN) Purchased by Williams & Novak LLC

Williams & Novak LLC acquired a new stake in Devon Energy Co. (NYSE:DVN) in the 4th quarter, according to the company in its most recent filing with the SEC. The firm acquired 8,222 shares of the energy company’s stock, valued at approximately $269,000.

Several other hedge funds have also recently modified their holdings of DVN. Wealth Effects LLC grew its holdings in shares of Devon Energy by 185.1% in the fourth quarter. Wealth Effects LLC now owns 30,432 shares of the energy company’s stock valued at $996,000 after acquiring an additional 19,759 shares in the last quarter. Perigon Wealth Management LLC boosted its position in Devon Energy by 7.6% in the fourth quarter. Perigon Wealth Management LLC now owns 6,356 shares of the energy company’s stock worth $208,000 after purchasing an additional 451 shares during the last quarter. Wealth Forward LLC grew its stake in Devon Energy by 11.1% in the 4th quarter. Wealth Forward LLC now owns 6,904 shares of the energy company’s stock valued at $226,000 after purchasing an additional 687 shares during the period. Nilsine Partners LLC increased its position in shares of Devon Energy by 169.7% during the 4th quarter. Nilsine Partners LLC now owns 26,618 shares of the energy company’s stock valued at $871,000 after purchasing an additional 16,747 shares during the last quarter. Finally, Lebenthal Global Advisors LLC boosted its holdings in shares of Devon Energy by 47.9% in the 4th quarter. Lebenthal Global Advisors LLC now owns 22,883 shares of the energy company’s stock worth $749,000 after buying an additional 7,407 shares during the last quarter. Institutional investors own 69.72% of the company’s stock.

Analyst Upgrades and Downgrades

DVN has been the subject of a number of research analyst reports. Raymond James raised their price objective on shares of Devon Energy from $53.00 to $54.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. StockNews.com upgraded shares of Devon Energy from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Citigroup dropped their price objective on Devon Energy from $55.00 to $48.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. Benchmark upgraded Devon Energy from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a research note on Tuesday, January 14th. Finally, Piper Sandler cut their price target on Devon Energy from $57.00 to $53.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Nine equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $49.41.

Devon Energy Stock Down 1.3 %

DVN opened at $34.88 on Wednesday. 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 one year low of $30.39 and a one year high of $55.09. The firm has a market capitalization of $22.91 billion, a P/E ratio of 6.47, a price-to-earnings-growth ratio of 1.21 and a beta of 2.00. The company has a fifty day moving average price of $35.14 and a 200-day moving average price of $39.70.

Devon Energy (NYSE:DVN) last posted its 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 business had revenue of $4.02 billion during the quarter, compared to analysts’ expectations 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 previous year, the business earned $1.65 earnings per share. Equities research analysts expect that Devon Energy Co. will post 4.7 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date was Friday, December 13th. Devon Energy’s payout ratio is 16.33%.

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.