Cheviot Value Management LLC Decreases Stake in Devon Energy Co. (NYSE:DVN)

Cheviot Value Management LLC decreased its stake in Devon Energy Co. (NYSE:DVN) by 1.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 63,490 shares of the energy company’s stock after selling 907 shares during the period. Cheviot Value Management LLC’s holdings in Devon Energy were worth $2,078,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Two Sigma Securities LLC increased its stake in Devon Energy by 1,989.0% in the 4th quarter. Two Sigma Securities LLC now owns 22,582 shares of the energy company’s stock valued at $739,000 after purchasing an additional 21,501 shares in the last quarter. Nebula Research & Development LLC purchased a new position in shares of Devon Energy in the fourth quarter valued at $444,000. Van Den Berg Management I Inc. raised its stake in shares of Devon Energy by 1.4% during the 4th quarter. Van Den Berg Management I Inc. now owns 33,422 shares of the energy company’s stock worth $1,094,000 after buying an additional 465 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. boosted its position in shares of Devon Energy by 14.8% in the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 328,919 shares of the energy company’s stock worth $10,709,000 after buying an additional 42,339 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its stake in Devon Energy by 345.9% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 2,163,792 shares of the energy company’s stock valued at $70,821,000 after acquiring an additional 1,678,500 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Devon Energy Trading Up 1.3 %

NYSE DVN opened at $31.47 on Friday. The company has a market capitalization of $20.42 billion, a price-to-earnings ratio of 6.90, a price-to-earnings-growth ratio of 1.20 and a beta of 1.50. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01. Devon Energy Co. has a 12 month low of $25.89 and a 12 month high of $53.20. The company’s fifty day moving average price is $33.63 and its two-hundred day moving average price is $35.53.

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

Devon Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a dividend of $0.24 per share. The ex-dividend date was Friday, March 14th. This is a positive change from Devon Energy’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 3.05%. Devon Energy’s dividend payout ratio is 21.05%.

Analyst Upgrades and Downgrades

DVN has been the topic of a number of recent research reports. Raymond James set a $40.00 target price on Devon Energy in a research note on Monday. Truist Financial boosted their target price 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. Wolfe Research upgraded shares of Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price target for the company in a report on Friday, January 3rd. Royal Bank of Canada decreased their target price on shares of Devon Energy from $49.00 to $40.00 and set a “sector perform” rating on the stock in a research report on Monday, April 14th. Finally, Benchmark reiterated a “buy” rating and issued a $44.00 target price on shares of Devon Energy in a research note on Thursday, February 20th. Ten investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Devon Energy has a consensus rating of “Moderate Buy” and an average target price of $44.83.

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.