Vista Investment Partners LLC Acquires 18,241 Shares of Devon Energy Corporation $DVN

Vista Investment Partners LLC boosted its stake in Devon Energy Corporation (NYSE:DVN) by 185.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,102 shares of the energy company’s stock after purchasing an additional 18,241 shares during the period. Vista Investment Partners LLC’s holdings in Devon Energy were worth $1,029,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. Aprio Wealth Management LLC increased its position in Devon Energy by 4.1% during the 3rd quarter. Aprio Wealth Management LLC now owns 7,521 shares of the energy company’s stock valued at $264,000 after purchasing an additional 297 shares during the period. Accredited Wealth Management LLC lifted its position in shares of Devon Energy by 61.6% in the 3rd quarter. Accredited Wealth Management LLC now owns 808 shares of the energy company’s stock worth $28,000 after purchasing an additional 308 shares during the period. Lindenwold Advisors INC boosted its stake in shares of Devon Energy by 1.2% in the 3rd quarter. Lindenwold Advisors INC now owns 27,094 shares of the energy company’s stock valued at $950,000 after purchasing an additional 314 shares during the last quarter. OneDigital Investment Advisors LLC increased its position in shares of Devon Energy by 2.6% during the third quarter. OneDigital Investment Advisors LLC now owns 12,620 shares of the energy company’s stock worth $442,000 after buying an additional 318 shares during the period. Finally, US Bancorp DE increased its position in shares of Devon Energy by 0.3% during the third quarter. US Bancorp DE now owns 113,308 shares of the energy company’s stock worth $3,973,000 after buying an additional 329 shares during the period. 69.72% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on DVN shares. Raymond James Financial boosted their price objective on Devon Energy from $44.00 to $52.00 and gave the company an “outperform” rating in a research note on Wednesday, February 11th. JPMorgan Chase & Co. decreased their target price on Devon Energy from $44.00 to $41.00 and set an “overweight” rating for the company in a research note on Thursday, January 15th. Weiss Ratings upgraded Devon Energy from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, January 28th. Truist Financial began coverage on shares of Devon Energy in a research note on Tuesday, March 24th. They issued a “buy” rating and a $63.00 price objective for the company. Finally, Wolfe Research boosted their target price on shares of Devon Energy from $58.00 to $64.00 in a research report on Monday, March 9th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $51.36.

Devon Energy Stock Down 3.4%

DVN stock opened at $48.62 on Thursday. The stock’s 50 day simple moving average is $44.70 and its 200 day simple moving average is $38.52. The company has a market cap of $30.15 billion, a P/E ratio of 11.66, a price-to-earnings-growth ratio of 0.99 and a beta of 0.56. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.90 and a current ratio of 0.98. Devon Energy Corporation has a fifty-two week low of $25.89 and a fifty-two week high of $52.71.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, February 17th. The energy company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.81 by $0.01. Devon Energy had a return on equity of 16.28% and a net margin of 15.37%.The firm had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $3.67 billion. During the same quarter in the previous year, the company posted $1.10 earnings per share. The company’s quarterly revenue was down 6.4% on a year-over-year basis. On average, research analysts expect that Devon Energy Corporation will post 4.85 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Friday, March 13th. Devon Energy’s dividend payout ratio (DPR) is currently 23.02%.

Devon Energy Profile

Devon Energy Corporation (NYSE: DVN) is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.

Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.