Machina Capital S.A.S. Makes New Investment in Devon Energy Co. (NYSE:DVN)

Machina Capital S.A.S. purchased a new stake in Devon Energy Co. (NYSE:DVN) during the 4th quarter, Holdings Channel reports. The firm purchased 12,171 shares of the energy company’s stock, valued at approximately $551,000.

A number of other hedge funds have also modified their holdings of DVN. Stratos Wealth Partners LTD. boosted its stake in shares of Devon Energy by 2.2% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 27,834 shares of the energy company’s stock worth $1,328,000 after purchasing an additional 594 shares during the last quarter. Brown Advisory Inc. grew its stake in Devon Energy by 77.2% in the 3rd quarter. Brown Advisory Inc. now owns 8,316 shares of the energy company’s stock worth $397,000 after acquiring an additional 3,622 shares during the period. Lindbrook Capital LLC grew its stake in Devon Energy by 32.5% in the 3rd quarter. Lindbrook Capital LLC now owns 1,916 shares of the energy company’s stock worth $91,000 after acquiring an additional 470 shares during the period. WealthShield Partners LLC raised its holdings in Devon Energy by 9.1% in the 3rd quarter. WealthShield Partners LLC now owns 23,507 shares of the energy company’s stock valued at $1,122,000 after acquiring an additional 1,959 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Devon Energy by 20.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 133,594 shares of the energy company’s stock worth $6,372,000 after purchasing an additional 22,517 shares during the period. 69.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Truist Financial lowered their price objective on Devon Energy from $69.00 to $67.00 and set a “buy” rating for the company in a research report on Friday. Scotiabank upped their price objective on shares of Devon Energy from $53.00 to $67.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th. Barclays initiated coverage on shares of Devon Energy in a report on Wednesday, April 10th. They set an “equal weight” rating and a $59.00 price objective on the stock. Mizuho boosted their target price on shares of Devon Energy from $53.00 to $57.00 and gave the company a “buy” rating in a report on Thursday. Finally, Citigroup upped their price target on shares of Devon Energy from $55.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $58.44.

Devon Energy Stock Up 0.6 %

NYSE DVN traded up $0.32 during trading hours on Monday, hitting $50.86. The company had a trading volume of 5,851,269 shares, compared to its average volume of 7,877,557. The firm’s 50 day moving average is $49.62 and its 200 day moving average is $46.25. The company has a market capitalization of $32.14 billion, a price-to-earnings ratio of 9.71 and a beta of 2.16. Devon Energy Co. has a fifty-two week low of $40.47 and a fifty-two week high of $55.09. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.04 and a quick ratio of 0.97.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Wednesday, May 1st. The energy company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.06. Devon Energy had a net margin of 22.27% and a return on equity of 29.02%. The company had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.64 billion. During the same quarter last year, the firm posted $1.46 earnings per share. The business’s quarterly revenue was down 5.9% on a year-over-year basis. Sell-side analysts anticipate that Devon Energy Co. will post 5.24 earnings per share for the current fiscal year.

Devon Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.73%. The ex-dividend date is Friday, June 14th. Devon Energy’s dividend payout ratio (DPR) is 16.79%.

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.