Ieq Capital LLC Acquires 38,790 Shares of Devon Energy Co. (NYSE:DVN)

Ieq Capital LLC grew its holdings in Devon Energy Co. (NYSE:DVN) by 88.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 82,659 shares of the energy company’s stock after acquiring an additional 38,790 shares during the period. Ieq Capital LLC’s holdings in Devon Energy were worth $2,705,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Performance Advisors LLP acquired a new stake in Devon Energy during the 3rd quarter valued at $35,000. Sierra Ocean LLC bought a new position in shares of Devon Energy in the fourth quarter valued at about $43,000. True Wealth Design LLC lifted its stake in shares of Devon Energy by 3,889.3% during the 3rd quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock worth $44,000 after buying an additional 1,089 shares during the last quarter. Hazlett Burt & Watson Inc. boosted its holdings in shares of Devon Energy by 29.8% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock worth $49,000 after buying an additional 290 shares during the period. Finally, Activest Wealth Management grew its stake in Devon Energy by 60.4% in the 3rd quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock valued at $50,000 after buying an additional 480 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Wells Fargo & Company cut their price objective 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. Royal Bank of Canada restated a “sector perform” rating and issued a $50.00 price target on shares of Devon Energy in a research note on Friday, January 10th. Truist Financial increased their price objective on Devon Energy from $42.00 to $44.00 and gave the stock a “hold” rating in a research report on Thursday. Benchmark reissued a “buy” rating and issued a $44.00 target price on shares of Devon Energy in a research report on Thursday. Finally, StockNews.com raised shares of Devon Energy from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Ten analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Devon Energy presently has an average rating of “Moderate Buy” and a consensus target price of $48.83.

Devon Energy Stock Down 2.8 %

NYSE DVN opened at $37.49 on Friday. Devon Energy Co. has a fifty-two week low of $30.39 and a fifty-two week high of $55.09. The business has a fifty day moving average price of $34.47 and a two-hundred day moving average price of $38.35. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01. The stock has a market capitalization of $24.33 billion, a PE ratio of 8.22, a PEG ratio of 1.20 and a beta of 1.98.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.16. The business had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.25 billion. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. Equities analysts expect that Devon Energy Co. will post 4.85 earnings per share for the current fiscal year.

Devon Energy Increases Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Devon Energy’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 2.56%. Devon Energy’s payout ratio is 19.30%.

Devon Energy Company 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.