Headlands Technologies LLC Makes New $150,000 Investment in Devon Energy Co. (NYSE:DVN)

Headlands Technologies LLC bought a new stake in Devon Energy Co. (NYSE:DVN) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 4,587 shares of the energy company’s stock, valued at approximately $150,000.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in Devon Energy by 7.3% in the fourth quarter. Vanguard Group Inc. now owns 80,682,170 shares of the energy company’s stock valued at $2,640,727,000 after buying an additional 5,465,692 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Devon Energy by 6.5% in the 4th quarter. Geode Capital Management LLC now owns 16,931,275 shares of the energy company’s stock worth $552,830,000 after acquiring an additional 1,038,305 shares in the last quarter. Victory Capital Management Inc. grew its position in Devon Energy by 2.3% during the 4th quarter. Victory Capital Management Inc. now owns 10,203,812 shares of the energy company’s stock worth $333,971,000 after acquiring an additional 232,469 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in Devon Energy by 10.8% during the 4th quarter. Thrivent Financial for Lutherans now owns 5,694,373 shares of the energy company’s stock valued at $186,714,000 after purchasing an additional 554,219 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Devon Energy in the 4th quarter valued at $154,170,000. Institutional investors own 69.72% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on DVN. Wells Fargo & Company lowered their target price on Devon Energy from $49.00 to $43.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. StockNews.com upgraded shares of Devon Energy from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Mizuho reduced their target price on shares of Devon Energy from $51.00 to $47.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Truist Financial increased their price target on shares of Devon Energy from $42.00 to $44.00 and gave the company a “hold” rating in a research note on Thursday, February 20th. Finally, Raymond James dropped their price objective on shares of Devon Energy from $54.00 to $46.00 and set an “outperform” rating for the company in a research report on Monday, March 10th. Ten analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $48.17.

Devon Energy Stock Performance

DVN stock opened at $29.30 on Friday. Devon Energy Co. has a 1-year low of $29.06 and a 1-year high of $55.09. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57. The firm has a market cap of $19.01 billion, a PE ratio of 6.42, a P/E/G ratio of 1.20 and a beta of 1.50. The business’s 50-day moving average price is $35.22 and its two-hundred day moving average price is $36.70.

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

Devon Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a dividend of $0.24 per share. This is an increase from Devon Energy’s previous quarterly dividend of $0.22. The ex-dividend date was Friday, March 14th. This represents a $0.96 annualized dividend and a dividend yield of 3.28%. Devon Energy’s dividend payout ratio is currently 21.05%.

Devon Energy Company 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.