Generali Investments Management Co LLC Makes New Investment in Devon Energy Co. (NYSE:DVN)

Generali Investments Management Co LLC purchased a new stake in shares of Devon Energy Co. (NYSE:DVN) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,005 shares of the energy company’s stock, valued at approximately $98,000.

Several other institutional investors have also modified their holdings of the company. Koss Olinger Consulting LLC acquired a new position in shares of Devon Energy during the fourth quarter valued at $663,000. OVERSEA CHINESE BANKING Corp Ltd raised its position in shares of Devon Energy by 217.8% during the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 27,931 shares of the energy company’s stock worth $871,000 after buying an additional 19,142 shares in the last quarter. Intech Investment Management LLC boosted its holdings in shares of Devon Energy by 6.0% in the fourth quarter. Intech Investment Management LLC now owns 16,213 shares of the energy company’s stock valued at $531,000 after acquiring an additional 915 shares in the last quarter. Horizon Investments LLC increased its stake in shares of Devon Energy by 4.1% during the fourth quarter. Horizon Investments LLC now owns 8,843 shares of the energy company’s stock valued at $289,000 after acquiring an additional 347 shares during the period. Finally, Advisors Asset Management Inc. raised its holdings in Devon Energy by 7.3% during the fourth quarter. Advisors Asset Management Inc. now owns 139,708 shares of the energy company’s stock worth $4,573,000 after purchasing an additional 9,510 shares in the last quarter. Institutional investors own 69.72% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on DVN shares. Wells Fargo & Company decreased their price target on Devon Energy from $49.00 to $43.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Williams Trading set a $50.00 price target on shares of Devon Energy in a report on Wednesday, March 5th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $50.00 price objective on shares of Devon Energy in a research note on Friday, January 10th. Sanford C. Bernstein raised shares of Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 target price for the company in a research note on Wednesday, January 15th. Finally, Piper Sandler lifted their price target on shares of Devon Energy from $54.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. Ten analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $48.46.

Devon Energy Stock Performance

DVN stock opened at $36.08 on Thursday. The stock has a market cap of $23.41 billion, a P/E ratio of 7.91, a P/E/G ratio of 1.20 and a beta of 1.91. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.04. The firm has a 50 day simple moving average of $35.44 and a 200 day simple moving average of $37.13. 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, February 18th. The energy company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.16. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The company had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.25 billion. Research analysts anticipate that Devon Energy Co. will post 4.85 earnings per share for the current fiscal year.

Devon Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Devon Energy’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.66%. Devon Energy’s dividend payout ratio (DPR) is 21.05%.

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.