Devon Energy Co. (NYSE:DVN) Shares Purchased by Cypress Capital Management LLC WY

Cypress Capital Management LLC WY raised its stake in shares of Devon Energy Co. (NYSE:DVN) by 47.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,807 shares of the energy company’s stock after buying an additional 10,557 shares during the period. Devon Energy makes up 1.6% of Cypress Capital Management LLC WY’s portfolio, making the stock its 16th biggest position. Cypress Capital Management LLC WY’s holdings in Devon Energy were worth $1,486,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of DVN. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Devon Energy in the third quarter worth about $27,000. Sound Income Strategies LLC boosted its holdings in shares of Devon Energy by 60.7% in the fourth quarter. Sound Income Strategies LLC now owns 675 shares of the energy company’s stock worth $31,000 after buying an additional 255 shares during the period. Rise Advisors LLC boosted its holdings in shares of Devon Energy by 1,365.3% in the fourth quarter. Rise Advisors LLC now owns 718 shares of the energy company’s stock worth $33,000 after buying an additional 669 shares during the period. PFS Partners LLC acquired a new position in shares of Devon Energy in the fourth quarter worth about $36,000. Finally, Naples Money Management LLC acquired a new position in shares of Devon Energy in the fourth quarter worth about $40,000. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Stock Performance

DVN stock traded up $0.41 on Monday, reaching $53.12. 3,200,676 shares of the company were exchanged, compared to its average volume of 7,797,145. Devon Energy Co. has a 12 month low of $40.47 and a 12 month high of $55.09. The stock’s fifty day moving average price is $48.88 and its 200 day moving average price is $46.18. The firm has a market capitalization of $33.73 billion, a PE ratio of 9.12 and a beta of 2.19. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.07 and a quick ratio of 0.99.

Devon Energy (NYSE:DVN) last announced its earnings results on Tuesday, February 27th. The energy company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.02. Devon Energy had a net margin of 24.56% and a return on equity of 31.72%. The business had revenue of $4.15 billion for the quarter, compared to analyst estimates of $3.88 billion. During the same quarter in the previous year, the firm posted $1.66 earnings per share. Devon Energy’s revenue was down 3.6% compared to the same quarter last year. On average, research analysts anticipate that Devon Energy Co. will post 5.28 EPS for the current fiscal year.

Devon Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a dividend of $0.44 per share. The ex-dividend date was Thursday, March 14th. This represents a $1.76 dividend on an annualized basis and a yield of 3.31%. Devon Energy’s dividend payout ratio is currently 15.09%.

Wall Street Analyst Weigh In

Several brokerages have commented on DVN. Truist Financial raised their target price on shares of Devon Energy from $66.00 to $69.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. Morgan Stanley raised their price target on shares of Devon Energy from $49.00 to $50.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Stifel Nicolaus raised their price target on shares of Devon Energy from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, April 23rd. Royal Bank of Canada restated a “sector perform” rating and set a $55.00 price target on shares of Devon Energy in a report on Thursday, March 7th. Finally, Barclays assumed coverage on shares of Devon Energy in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $59.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $58.33.

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.