Bard Financial Services Inc. Buys 9,600 Shares of Devon Energy Co. (NYSE:DVN)

Bard Financial Services Inc. lifted its stake in shares of Devon Energy Co. (NYSE:DVN) by 86.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,650 shares of the energy company’s stock after purchasing an additional 9,600 shares during the quarter. Bard Financial Services Inc.’s holdings in Devon Energy were worth $676,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Private Advisor Group LLC boosted its holdings in Devon Energy by 6.3% in the second quarter. Private Advisor Group LLC now owns 83,609 shares of the energy company’s stock worth $3,963,000 after acquiring an additional 4,975 shares in the last quarter. Candriam S.C.A. lifted its holdings in shares of Devon Energy by 18.5% in the 2nd quarter. Candriam S.C.A. now owns 43,822 shares of the energy company’s stock worth $2,077,000 after purchasing an additional 6,850 shares in the last quarter. Savant Capital LLC grew its position in Devon Energy by 114.3% in the 2nd quarter. Savant Capital LLC now owns 43,795 shares of the energy company’s stock valued at $2,076,000 after purchasing an additional 23,355 shares during the period. Gallacher Capital Management LLC increased its stake in Devon Energy by 45.4% during the 2nd quarter. Gallacher Capital Management LLC now owns 14,748 shares of the energy company’s stock valued at $699,000 after purchasing an additional 4,607 shares in the last quarter. Finally, Acadian Asset Management LLC raised its holdings in Devon Energy by 1,061.4% during the second quarter. Acadian Asset Management LLC now owns 99,624 shares of the energy company’s stock worth $4,719,000 after buying an additional 91,046 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Devon Energy Stock Performance

Shares of NYSE:DVN traded up $0.31 during mid-day trading on Monday, reaching $34.24. The company had a trading volume of 6,857,725 shares, compared to its average volume of 8,429,619. Devon Energy Co. has a one year low of $30.39 and a one year high of $55.09. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The company’s 50-day moving average price is $35.97 and its 200-day moving average price is $40.97. The firm has a market cap of $22.49 billion, a price-to-earnings ratio of 6.35, a PEG ratio of 1.10 and a beta of 2.00.

Devon Energy (NYSE:DVN) last issued its earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.01. The firm had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.72 billion. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The business’s revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.65 earnings per share. As a group, equities research analysts anticipate that Devon Energy Co. will post 4.79 EPS for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.57%. Devon Energy’s dividend payout ratio is presently 16.33%.

Wall Street Analyst Weigh In

Several research firms have recently commented on DVN. Jefferies Financial Group initiated coverage on shares of Devon Energy in a research report on Thursday, October 3rd. They set a “hold” rating and a $45.00 target price for the company. Piper Sandler decreased their price objective on Devon Energy from $57.00 to $53.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Mizuho cut their target price on Devon Energy from $51.00 to $47.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Truist Financial lowered Devon Energy from a “buy” rating to a “hold” rating and lowered their price target for the company from $49.00 to $43.00 in a research report on Thursday, November 7th. Finally, Evercore ISI cut their price objective on shares of Devon Energy from $55.00 to $50.00 and set an “in-line” rating on the stock in a report on Monday, September 30th. Eleven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.81.

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.