Virtu Financial LLC Has $2.51 Million Position in Devon Energy Co. (NYSE:DVN)

Virtu Financial LLC reduced its holdings in shares of Devon Energy Co. (NYSE:DVN) by 59.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 76,619 shares of the energy company’s stock after selling 114,274 shares during the period. Virtu Financial LLC’s holdings in Devon Energy were worth $2,508,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in DVN. Prospera Financial Services Inc boosted its position in shares of Devon Energy by 20.4% during the 3rd quarter. Prospera Financial Services Inc now owns 22,813 shares of the energy company’s stock valued at $893,000 after acquiring an additional 3,867 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Devon Energy during the 3rd quarter valued at about $806,000. PNC Financial Services Group Inc. lifted its holdings in Devon Energy by 14.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 174,495 shares of the energy company’s stock valued at $6,826,000 after purchasing an additional 22,534 shares during the last quarter. Avior Wealth Management LLC lifted its holdings in Devon Energy by 15.7% during the 3rd quarter. Avior Wealth Management LLC now owns 9,515 shares of the energy company’s stock valued at $372,000 after purchasing an additional 1,293 shares during the last quarter. Finally, Landscape Capital Management L.L.C. lifted its holdings in Devon Energy by 177.4% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 25,566 shares of the energy company’s stock valued at $1,000,000 after purchasing an additional 16,351 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Devon Energy Trading Up 0.1 %

DVN opened at $36.18 on Friday. The company’s 50 day moving average is $35.46 and its 200-day moving average is $37.02. Devon Energy Co. has a 1-year low of $30.39 and a 1-year high of $55.09. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57. The company has a market cap of $23.48 billion, a P/E ratio of 7.93, a PEG ratio of 1.20 and a beta of 1.91.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share 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 for the quarter, compared to the consensus estimate of $4.25 billion. Equities research analysts predict that Devon Energy Co. will post 4.85 earnings per share for the current fiscal year.

Devon Energy Increases Dividend

The business 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 $0.24 dividend. 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 2.65%. The ex-dividend date of this dividend is Friday, March 14th. Devon Energy’s dividend payout ratio (DPR) is presently 21.05%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on DVN shares. Piper Sandler lifted their price target on shares of Devon Energy from $54.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, February 24th. Mizuho cut their price target on shares of Devon Energy from $51.00 to $47.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Royal Bank of Canada reissued a “sector perform” rating and set a $50.00 price target on shares of Devon Energy in a report on Friday, January 10th. Barclays lifted their price target on shares of Devon Energy from $43.00 to $44.00 and gave the company an “equal weight” rating in a report on Thursday, February 20th. Finally, Wells Fargo & Company dropped their target price on shares of Devon Energy from $49.00 to $43.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Ten research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Devon Energy presently has an average rating of “Moderate Buy” and a consensus price target of $48.46.

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.