Baird Financial Group Inc. Has $5.14 Million Stake in Devon Energy Co. (NYSE:DVN)

Baird Financial Group Inc. lowered its holdings in Devon Energy Co. (NYSE:DVN) by 34.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 157,058 shares of the energy company’s stock after selling 83,526 shares during the quarter. Baird Financial Group Inc.’s holdings in Devon Energy were worth $5,141,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Black Maple Capital Management LP acquired a new position in shares of Devon Energy during the fourth quarter valued at about $1,957,000. Benjamin Edwards Inc. boosted its stake in Devon Energy by 25.1% during the 4th quarter. Benjamin Edwards Inc. now owns 19,696 shares of the energy company’s stock valued at $645,000 after purchasing an additional 3,952 shares during the last quarter. Alethea Capital Management LLC bought a new stake in Devon Energy during the 4th quarter worth approximately $274,000. Ameriprise Financial Inc. raised its stake in shares of Devon Energy by 13.4% in the fourth quarter. Ameriprise Financial Inc. now owns 2,777,069 shares of the energy company’s stock worth $90,811,000 after purchasing an additional 327,471 shares during the last quarter. Finally, American Trust Investment Advisors LLC lifted its holdings in shares of Devon Energy by 39.1% in the fourth quarter. American Trust Investment Advisors LLC now owns 18,835 shares of the energy company’s stock valued at $616,000 after purchasing an additional 5,290 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Wall Street Analyst Weigh In

DVN has been the subject of a number of analyst reports. Citigroup lowered their price target on Devon Energy from $46.00 to $43.00 and set a “buy” rating for the company in a research report on Friday, April 4th. Truist Financial raised their price target on shares of Devon Energy from $42.00 to $44.00 and gave the company a “hold” rating in a research report on Thursday, February 20th. UBS Group reduced their price objective on shares of Devon Energy from $41.00 to $35.00 and set a “neutral” rating for the company in a research report on Monday, April 7th. Cowen cut shares of Devon Energy to a “hold” rating and dropped their target price for the stock from $46.00 to $45.00 in a research report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. decreased their price target on Devon Energy from $48.00 to $42.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $43.96.

Devon Energy Stock Performance

NYSE:DVN opened at $32.60 on Friday. Devon Energy Co. has a 52-week low of $25.89 and a 52-week high of $51.20. The business’s fifty day moving average is $32.55 and its 200 day moving average is $34.75. 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 firm has a market cap of $20.97 billion, a price-to-earnings ratio of 7.15, a PEG ratio of 1.20 and a beta of 1.00.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, May 6th. The energy company reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.06). Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The firm had revenue of $4.45 billion during the quarter, compared to the consensus estimate of $4.31 billion. During the same quarter last year, the business posted $1.16 earnings per share. Devon Energy’s revenue was up 23.8% compared to the same quarter last year. Research analysts predict that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a $0.24 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.94%. Devon Energy’s dividend payout ratio (DPR) is presently 21.87%.

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.