Devon Energy Co. (NYSE:DVN) Shares Acquired by Larson Financial Group LLC

Larson Financial Group LLC grew its holdings in Devon Energy Co. (NYSE:DVN) by 28.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 61,695 shares of the energy company’s stock after purchasing an additional 13,816 shares during the period. Larson Financial Group LLC’s holdings in Devon Energy were worth $2,019,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of DVN. EnCap Energy Capital Fund XI L.P. acquired a new position in shares of Devon Energy in the 3rd quarter valued at $461,857,000. EnCap Partners GP LLC acquired a new position in Devon Energy during the 3rd quarter worth about $408,653,000. EnCap Energy Capital Fund X L.P. acquired a new position in Devon Energy during the 3rd quarter worth about $230,928,000. Raymond James Financial Inc. acquired a new position in Devon Energy during the 4th quarter worth about $154,170,000. Finally, Pacer Advisors Inc. lifted its stake 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 acquiring an additional 1,677,652 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on DVN shares. Wells Fargo & Company decreased their target price on Devon Energy from $49.00 to $43.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Truist Financial increased their target price on Devon Energy from $42.00 to $44.00 and gave the stock a “hold” rating in a research note on Thursday, February 20th. Susquehanna increased their target price on Devon Energy from $50.00 to $52.00 and gave the stock a “positive” rating in a research note on Thursday, February 20th. Piper Sandler increased their target price on Devon Energy from $54.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, February 24th. Finally, JPMorgan Chase & Co. downgraded Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 price target on the stock. in a report on Thursday, December 5th. Ten investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Devon Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.87.

Devon Energy Trading Up 2.6 %

DVN opened at $34.74 on Friday. Devon Energy Co. has a one year low of $30.39 and a one year high of $55.09. The company has a market cap of $22.54 billion, a P/E ratio of 7.62, a PEG ratio of 1.20 and a beta of 1.91. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.04. The business’s 50-day simple moving average is $35.24 and its 200-day simple moving average is $37.68.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.16. The business had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.25 billion. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. As a group, equities research analysts expect that Devon Energy Co. will post 4.85 EPS for the current fiscal year.

Devon Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Devon Energy’s previous quarterly dividend of $0.22. Devon Energy’s dividend payout ratio (DPR) is currently 21.05%.

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.