Virtus ETF Advisers LLC cut its stake in shares of Devon Energy Co. (NYSE:DVN – Free Report) by 10.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,165 shares of the energy company’s stock after selling 476 shares during the period. Virtus ETF Advisers LLC’s holdings in Devon Energy were worth $199,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of the stock. T. Rowe Price Investment Management Inc. lifted its position in shares of Devon Energy by 96.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,608,577 shares of the energy company’s stock valued at $344,984,000 after buying an additional 2,752,752 shares during the last quarter. Barclays PLC lifted its position in shares of Devon Energy by 124.6% in the second quarter. Barclays PLC now owns 2,874,386 shares of the energy company’s stock valued at $138,951,000 after buying an additional 1,594,886 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in Devon Energy during the 1st quarter worth approximately $85,234,000. First Trust Advisors LP boosted its stake in Devon Energy by 79.4% in the 1st quarter. First Trust Advisors LP now owns 3,206,111 shares of the energy company’s stock valued at $189,577,000 after purchasing an additional 1,419,322 shares during the period. Finally, Fort Pitt Capital Group LLC boosted its stake in Devon Energy by 3,276.4% in the 1st quarter. Fort Pitt Capital Group LLC now owns 1,143,533 shares of the energy company’s stock valued at $57,874,000 after purchasing an additional 1,109,665 shares during the period. 68.34% of the stock is owned by institutional investors and hedge funds.
Devon Energy Price Performance
Shares of DVN opened at $41.29 on Friday. Devon Energy Co. has a 12-month low of $40.51 and a 12-month high of $64.40. The business has a 50-day simple moving average of $44.04 and a two-hundred day simple moving average of $47.12. The company has a quick ratio of 0.89, a current ratio of 0.96 and a debt-to-equity ratio of 0.48. The stock has a market cap of $26.45 billion, a PE ratio of 7.06, a PEG ratio of 0.15 and a beta of 2.20.
Devon Energy Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 15th were issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 7.46%. The ex-dividend date was Thursday, December 14th. This is a boost from Devon Energy’s previous quarterly dividend of $0.49. Devon Energy’s dividend payout ratio is presently 13.68%.
Wall Street Analyst Weigh In
Several analysts recently issued reports on DVN shares. Royal Bank of Canada reduced their price target on Devon Energy from $60.00 to $55.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 15th. UBS Group reduced their price target on Devon Energy from $52.00 to $48.00 and set a “neutral” rating for the company in a research note on Thursday, December 14th. Susquehanna reduced their price target on Devon Energy from $72.00 to $62.00 and set a “positive” rating for the company in a research note on Wednesday, October 18th. Truist Financial reduced their price target on Devon Energy from $68.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday, November 9th. Finally, JPMorgan Chase & Co. upgraded Devon Energy from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $57.00 to $58.00 in a research note on Wednesday, December 6th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $56.65.
Devon Energy Company Profile
Devon Energy Corporation, an independent energy company, explores for, develops, and produces oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Anadarko, Williston, Eagle Ford, and Powder River Basin. The company was incorporated in 1971 and is headquartered in Oklahoma City, Oklahoma.
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