14,629 Shares in Devon Energy Co. (NYSE:DVN) Bought by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Devon Energy Co. (NYSE:DVN) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 14,629 shares of the energy company’s stock, valued at approximately $734,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DVN. Manchester Capital Management LLC purchased a new position in shares of Devon Energy in the 4th quarter valued at approximately $28,000. Tradewinds Capital Management LLC acquired a new position in shares of Devon Energy in the 1st quarter valued at about $30,000. Jones Financial Companies Lllp boosted its stake in shares of Devon Energy by 104.8% in the fourth quarter. Jones Financial Companies Lllp now owns 731 shares of the energy company’s stock worth $33,000 after buying an additional 374 shares during the last quarter. PFS Partners LLC purchased a new stake in shares of Devon Energy in the fourth quarter worth about $36,000. Finally, Naples Money Management LLC acquired a new stake in Devon Energy during the fourth quarter worth about $40,000. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Morgan Stanley upped their price objective on Devon Energy from $52.00 to $54.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Scotiabank lowered their price objective on Devon Energy from $67.00 to $60.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Wells Fargo & Company reduced their target price on Devon Energy from $60.00 to $57.00 and set an “overweight” rating for the company in a report on Tuesday. Truist Financial lowered their price target on Devon Energy from $67.00 to $64.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Finally, Piper Sandler increased their price objective on Devon Energy from $60.00 to $61.00 and gave the company an “overweight” rating in a research note on Tuesday, May 14th. Six investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.13.

Insider Buying and Selling at Devon Energy

In related news, EVP Tana K. Cashion sold 20,000 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $51.04, for a total transaction of $1,020,800.00. Following the completion of the transaction, the executive vice president now owns 104,182 shares in the company, valued at $5,317,449.28. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.73% of the company’s stock.

Devon Energy Trading Up 1.5 %

DVN opened at $46.28 on Friday. The business has a fifty day simple moving average of $47.26 and a 200-day simple moving average of $47.10. Devon Energy Co. has a 52 week low of $40.47 and a 52 week high of $55.09. The firm has a market cap of $29.25 billion, a P/E ratio of 8.83, a P/E/G ratio of 0.76 and a beta of 2.07. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 0.46.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Wednesday, May 1st. The energy company reported $1.16 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $3.64 billion. During the same quarter last year, the company posted $1.46 EPS. The firm’s revenue was down 5.9% compared to the same quarter last year. On average, equities analysts expect that Devon Energy Co. will post 5.39 earnings per share for the current year.

Devon Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.90%. The ex-dividend date was Friday, June 14th. Devon Energy’s dividend payout ratio (DPR) is presently 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.