Annex Advisory Services LLC Purchases 327 Shares of Devon Energy Co. (NYSE:DVN)

Annex Advisory Services LLC grew its position in shares of Devon Energy Co. (NYSE:DVN) by 1.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 27,021 shares of the energy company’s stock after acquiring an additional 327 shares during the period. Annex Advisory Services LLC’s holdings in Devon Energy were worth $884,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of DVN. EnCap Energy Capital Fund XI L.P. purchased a new stake in Devon Energy in the third quarter worth approximately $461,857,000. EnCap Partners GP LLC purchased a new stake in shares of Devon Energy in the 3rd quarter valued at $408,653,000. EnCap Energy Capital Fund X L.P. bought a new position in shares of Devon Energy during the 3rd quarter valued at $230,928,000. International Assets Investment Management LLC raised its position in Devon Energy by 4,125.7% in the 3rd quarter. International Assets Investment Management LLC now owns 2,280,961 shares of the energy company’s stock worth $89,231,000 after purchasing an additional 2,226,983 shares during the period. Finally, Pacer Advisors Inc. lifted its stake in Devon Energy by 16.9% in the third quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company’s stock worth $453,446,000 after purchasing an additional 1,677,652 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on DVN shares. Royal Bank of Canada reissued a “sector perform” rating and issued a $50.00 price target on shares of Devon Energy in a research note on Friday, January 10th. Sanford C. Bernstein raised shares of Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price target for the company in a research note on Wednesday, January 15th. Barclays lowered their price target on shares of Devon Energy from $55.00 to $46.00 and set an “equal weight” rating for the company in a research note on Thursday, October 3rd. Piper Sandler lowered their price target on shares of Devon Energy from $57.00 to $53.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Finally, Jefferies Financial Group initiated coverage on shares of Devon Energy in a research note on Thursday, October 3rd. They issued a “hold” rating and a $45.00 price target for the company. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Devon Energy presently has an average rating of “Moderate Buy” and an average target price of $49.27.

Devon Energy Price Performance

Shares of DVN opened at $37.98 on Tuesday. The stock has a market cap of $24.95 billion, a PE ratio of 7.05, a price-to-earnings-growth ratio of 1.14 and a beta of 2.00. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11. Devon Energy Co. has a fifty-two week low of $30.39 and a fifty-two week high of $55.09. The firm’s 50-day simple moving average is $35.46 and its two-hundred day simple moving average is $40.14.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.01. The business had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.72 billion. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The business’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.65 earnings per share. Analysts anticipate that Devon Energy Co. will post 4.72 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend was Friday, December 13th. Devon Energy’s dividend payout ratio (DPR) is presently 16.33%.

About Devon Energy

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.