Schroder Investment Management Group Trims Stock Holdings in Devon Energy Co. (NYSE:DVN)

Schroder Investment Management Group decreased its position in Devon Energy Co. (NYSE:DVN) by 15.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,584,535 shares of the energy company’s stock after selling 487,593 shares during the quarter. Schroder Investment Management Group owned about 0.39% of Devon Energy worth $82,628,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DVN. Algert Global LLC lifted its stake in shares of Devon Energy by 15.5% during the third quarter. Algert Global LLC now owns 11,229 shares of the energy company’s stock valued at $439,000 after buying an additional 1,510 shares during the period. FMR LLC raised its holdings in Devon Energy by 39.8% in the 3rd quarter. FMR LLC now owns 1,722,145 shares of the energy company’s stock valued at $67,370,000 after acquiring an additional 489,964 shares during the last quarter. Townsquare Capital LLC lifted its stake in shares of Devon Energy by 40.4% during the 3rd quarter. Townsquare Capital LLC now owns 22,773 shares of the energy company’s stock worth $891,000 after purchasing an additional 6,554 shares during the period. Freedom Investment Management Inc. purchased a new stake in shares of Devon Energy in the third quarter valued at $346,000. Finally, Glenmede Trust Co. NA increased its stake in Devon Energy by 121.9% in the third quarter. Glenmede Trust Co. NA now owns 35,654 shares of the energy company’s stock valued at $1,395,000 after purchasing an additional 19,589 shares during the last quarter. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Devon Energy Stock Performance

Shares of Devon Energy stock opened at $36.79 on Monday. 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 $23.87 billion, a PE ratio of 8.07, a price-to-earnings-growth ratio of 1.20 and a beta of 1.91. Devon Energy Co. has a 1 year low of $30.39 and a 1 year high of $55.09. The firm’s 50-day simple moving average is $35.38 and its 200-day simple moving average is $36.84.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.16 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.25 billion. Equities analysts forecast that Devon Energy Co. will post 4.85 earnings per share for the current fiscal year.

Devon Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date is Friday, March 14th. This is an increase from Devon Energy’s previous quarterly dividend of $0.22. Devon Energy’s dividend payout ratio is currently 21.05%.

Analyst Ratings Changes

DVN has been the topic of a number of research analyst reports. JPMorgan Chase & Co. decreased their price target on Devon Energy from $48.00 to $42.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. Citigroup dropped their price target on Devon Energy from $48.00 to $46.00 and set a “buy” rating for the company in a research note on Monday, March 17th. Barclays boosted their target price on Devon Energy from $43.00 to $44.00 and gave the stock an “equal weight” rating in a report on Thursday, February 20th. 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 report 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 research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $48.29.

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.