Tejara Capital Ltd Invests $1.07 Million in Devon Energy Co. (NYSE:DVN)

Tejara Capital Ltd bought a new position in Devon Energy Co. (NYSE:DVN) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 32,600 shares of the energy company’s stock, valued at approximately $1,067,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in DVN. Geode Capital Management LLC lifted its position in Devon Energy by 1.3% during the third quarter. Geode Capital Management LLC now owns 15,892,970 shares of the energy company’s stock valued at $619,747,000 after purchasing an additional 206,884 shares during the period. EnCap Energy Capital Fund XI L.P. bought a new position in Devon Energy during the third quarter valued at approximately $461,857,000. Pacer Advisors Inc. lifted its position in Devon Energy by 16.9% during the third quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company’s stock valued at $453,446,000 after purchasing an additional 1,677,652 shares during the period. EnCap Partners GP LLC purchased a new stake in Devon Energy during the third quarter valued at approximately $408,653,000. Finally, Victory Capital Management Inc. increased its holdings in Devon Energy by 2.3% during the fourth quarter. Victory Capital Management Inc. now owns 10,203,812 shares of the energy company’s stock valued at $333,971,000 after buying an additional 232,469 shares during the last quarter. Institutional investors own 69.72% of the company’s stock.

Devon Energy Trading Up 1.7 %

NYSE:DVN opened at $35.13 on Tuesday. Devon Energy Co. has a one year low of $30.39 and a one year high of $55.09. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.04. The firm has a market cap of $22.80 billion, a P/E ratio of 7.70, a P/E/G ratio of 1.20 and a beta of 1.91. The firm has a 50-day simple moving average of $35.41 and a 200-day simple moving average of $37.20.

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

Devon Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.73%. The ex-dividend date is Friday, March 14th. This is a positive change from Devon Energy’s previous quarterly dividend of $0.22. Devon Energy’s payout ratio is 21.05%.

Analysts Set New Price Targets

DVN has been the subject of a number of research reports. Wells Fargo & Company reduced their target price on shares of Devon Energy from $49.00 to $43.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Cowen cut shares of Devon Energy to a “hold” rating and reduced their price objective for the stock from $46.00 to $45.00 in a research note on Tuesday, February 18th. Benchmark restated a “buy” rating and set a $44.00 target price on shares of Devon Energy in a research report on Thursday, February 20th. Truist Financial lifted their price target on shares of Devon Energy from $42.00 to $44.00 and gave the company a “hold” rating in a report on Thursday, February 20th. Finally, StockNews.com upgraded shares of Devon Energy from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Ten equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Devon Energy presently has an average rating of “Moderate Buy” and an average target price of $48.46.

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.