Candriam S.C.A. lifted its stake in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 39.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 61,252 shares of the energy company's stock after purchasing an additional 17,258 shares during the quarter. Candriam S.C.A.'s holdings in Devon Energy were worth $2,005,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Bridgewater Associates LP bought a new stake in shares of Devon Energy during the third quarter valued at about $9,426,000. Legacy Investment Solutions LLC purchased a new position in Devon Energy during the third quarter valued at approximately $8,002,000. Petrus Trust Company LTA increased its holdings in Devon Energy by 394.7% during the 3rd quarter. Petrus Trust Company LTA now owns 21,827 shares of the energy company's stock worth $854,000 after acquiring an additional 17,415 shares during the period. CIBC Asset Management Inc lifted its stake in Devon Energy by 6.3% in the 3rd quarter. CIBC Asset Management Inc now owns 107,182 shares of the energy company's stock worth $4,193,000 after purchasing an additional 6,358 shares in the last quarter. Finally, Smead Capital Management Inc. boosted its holdings in Devon Energy by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 5,879,516 shares of the energy company's stock valued at $230,007,000 after purchasing an additional 198,193 shares during the period. Hedge funds and other institutional investors own 69.72% of the company's stock.
Several research analysts have recently weighed in on DVN shares. Susquehanna upped their price target on shares of Devon Energy from $50.00 to $52.00 and gave the stock a "positive" rating in a report on Thursday, February 20th. Sanford C. Bernstein raised Devon Energy from a "market perform" rating to an "outperform" rating and set a $45.00 price target on the stock in a report on Wednesday, January 15th. Cowen downgraded Devon Energy to a "hold" rating and dropped their price target for the company from $46.00 to $45.00 in a research report on Tuesday, February 18th. Truist Financial upped their price objective on shares of Devon Energy from $42.00 to $44.00 and gave the stock a "hold" rating in a research report on Thursday, February 20th. Finally, Wells Fargo & Company dropped their target price on shares of Devon Energy from $49.00 to $43.00 and set an "overweight" rating for the company in a research report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $48.58.
View Our Latest Analysis on Devon Energy
Devon Energy stock traded down $0.53 during trading hours on Monday, reaching $34.18. The stock had a trading volume of 10,568,316 shares, compared to its average volume of 7,852,128. The stock has a market cap of $22.18 billion, a PE ratio of 7.49, a PEG ratio of 1.20 and a beta of 1.91. The company has a fifty day simple moving average of $35.29 and a 200-day simple moving average of $37.57. 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 52 week low of $30.39 and a 52 week high of $55.09.
Devon Energy (NYSE:DVN - Get Free Report) last posted its earnings results 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. The company had revenue of $4.40 billion for the quarter, compared to analysts' expectations of $4.25 billion. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. Analysts forecast that Devon Energy Co. will post 4.85 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date of this dividend 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%.
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.
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