AJOVista LLC Buys Shares of 4,135 Devon Energy Co. (NYSE:DVN)

AJOVista LLC acquired a new stake in shares of Devon Energy Co. (NYSE:DVN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,135 shares of the energy company’s stock, valued at approximately $187,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Pacer Advisors Inc. increased its holdings in Devon Energy by 1,279.7% in the 4th quarter. Pacer Advisors Inc. now owns 6,145,605 shares of the energy company’s stock valued at $278,396,000 after acquiring an additional 5,700,167 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new stake in Devon Energy in the third quarter worth $113,793,000. Morgan Stanley raised its stake in Devon Energy by 23.6% during the third quarter. Morgan Stanley now owns 11,647,104 shares of the energy company’s stock valued at $555,567,000 after purchasing an additional 2,220,194 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Devon Energy by 3,885.4% in the 4th quarter. International Assets Investment Management LLC now owns 1,695,206 shares of the energy company’s stock worth $76,793,000 after buying an additional 1,652,671 shares during the last quarter. Finally, Schroder Investment Management Group raised its holdings in Devon Energy by 61.0% during the 3rd quarter. Schroder Investment Management Group now owns 2,673,781 shares of the energy company’s stock valued at $127,539,000 after buying an additional 1,013,353 shares during the period. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Devon Energy Stock Performance

Shares of DVN stock traded up $0.20 during mid-day trading on Friday, hitting $50.54. 8,953,763 shares of the stock were exchanged, compared to its average volume of 7,073,719. Devon Energy Co. has a 12-month low of $40.47 and a 12-month high of $55.09. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.99 and a current ratio of 1.04. The stock has a market capitalization of $32.09 billion, a price-to-earnings ratio of 9.65 and a beta of 2.16. The stock’s fifty day simple moving average is $49.62 and its two-hundred day simple moving average is $46.31.

Devon Energy (NYSE:DVN) last issued its earnings results on Wednesday, May 1st. The energy company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.10 by $0.06. The company had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.64 billion. Devon Energy had a net margin of 22.27% and a return on equity of 29.02%. The business’s revenue was down 5.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.46 EPS. On average, analysts forecast that Devon Energy Co. will post 5.28 EPS for the current year.

Devon Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.74%. The ex-dividend date is Friday, June 14th. Devon Energy’s dividend payout ratio (DPR) is presently 16.79%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on DVN. Mizuho increased their price target on Devon Energy from $53.00 to $57.00 and gave the stock a “buy” rating in a report on Thursday. Piper Sandler raised their price target on Devon Energy from $59.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $55.00 price target on shares of Devon Energy in a research report on Thursday, March 7th. Raymond James lowered their price target on shares of Devon Energy from $53.00 to $52.00 and set an “outperform” rating on the stock in a report on Wednesday, January 24th. Finally, StockNews.com raised Devon Energy from a “hold” rating to a “buy” rating in a research report on Friday. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.44.

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.