KBC Group NV Grows Stock Holdings in Devon Energy Co. (NYSE:DVN)

KBC Group NV boosted its holdings in shares of Devon Energy Co. (NYSE:DVN) by 1,015.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 812,027 shares of the energy company’s stock after purchasing an additional 739,247 shares during the period. KBC Group NV’s holdings in Devon Energy were worth $26,577,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Algert Global LLC raised its position in shares of Devon Energy by 17.8% in the 2nd quarter. Algert Global LLC now owns 9,719 shares of the energy company’s stock worth $461,000 after acquiring an additional 1,466 shares in the last quarter. Creative Planning grew its position in shares of Devon Energy by 5.9% in the 2nd quarter. Creative Planning now owns 98,957 shares of the energy company’s stock worth $4,691,000 after buying an additional 5,476 shares during the period. NewEdge Advisors LLC increased its holdings in shares of Devon Energy by 15.6% during the second quarter. NewEdge Advisors LLC now owns 191,109 shares of the energy company’s stock valued at $9,059,000 after acquiring an additional 25,825 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Devon Energy by 13.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 41,610 shares of the energy company’s stock valued at $1,972,000 after purchasing an additional 4,933 shares in the last quarter. Finally, Quarry LP raised its holdings in Devon Energy by 32.1% in the 2nd quarter. Quarry LP now owns 1,832 shares of the energy company’s stock worth $87,000 after acquiring an additional 445 shares during the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on DVN. TD Cowen reduced their price objective on Devon Energy from $54.00 to $46.00 and set a “hold” rating for the company in a report on Tuesday, November 5th. Truist Financial decreased their price objective on shares of Devon Energy from $43.00 to $42.00 and set a “hold” rating for the company in a report on Monday, January 13th. Wells Fargo & Company dropped their target price on shares of Devon Energy from $49.00 to $43.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Jefferies Financial Group initiated coverage on shares of Devon Energy in a research note on Thursday, October 3rd. They set a “hold” rating and a $45.00 target price for the company. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $50.00 price target on shares of Devon Energy in a research note on Friday, January 10th. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $49.41.

Devon Energy Trading Down 1.3 %

Shares of DVN stock opened at $34.88 on Wednesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11. The stock has a fifty day simple moving average of $35.14 and a two-hundred day simple moving average of $39.70. The firm has a market capitalization of $22.91 billion, a PE ratio of 6.47, a PEG ratio of 1.21 and a beta of 2.00. Devon Energy Co. has a 52-week low of $30.39 and a 52-week high of $55.09.

Devon Energy (NYSE:DVN) last issued its earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.01. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The company had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter last year, the company earned $1.65 EPS. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. On average, analysts predict that Devon Energy Co. will post 4.7 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.52%. Devon Energy’s dividend payout ratio is 16.33%.

About Devon Energy

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.