Devon Energy Co. (NYSE:DVN) Shares Bought by StoneX Group Inc.

StoneX Group Inc. increased its stake in Devon Energy Co. (NYSE:DVN) by 90.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 41,724 shares of the energy company’s stock after acquiring an additional 19,859 shares during the quarter. StoneX Group Inc.’s holdings in Devon Energy were worth $1,366,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Cromwell Holdings LLC increased its stake in Devon Energy by 98.0% in the 4th quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company’s stock worth $40,000 after purchasing an additional 598 shares in the last quarter. Sierra Ocean LLC purchased a new position in shares of Devon Energy in the fourth quarter worth approximately $43,000. Endeavor Private Wealth Inc. acquired a new stake in shares of Devon Energy during the fourth quarter valued at approximately $52,000. Thompson Investment Management Inc. lifted its position in shares of Devon Energy by 60.0% in the 4th quarter. Thompson Investment Management Inc. now owns 1,600 shares of the energy company’s stock valued at $52,000 after acquiring an additional 600 shares in the last quarter. Finally, Asset Planning Inc acquired a new position in Devon Energy in the 4th quarter worth approximately $54,000. 69.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DVN has been the topic of several recent analyst reports. JPMorgan Chase & Co. cut their target price on shares of Devon Energy from $48.00 to $42.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. Wolfe Research raised Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price target on the stock in a research report on Friday, January 3rd. Mizuho decreased their price objective on Devon Energy from $51.00 to $47.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Barclays upped their target price on Devon Energy from $43.00 to $44.00 and gave the company an “equal weight” rating in a report on Thursday, February 20th. Finally, StockNews.com upgraded shares of Devon Energy from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Ten investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $48.29.

Devon Energy Stock Performance

NYSE:DVN opened at $37.56 on Wednesday. The firm has a market capitalization of $24.37 billion, a PE ratio of 8.24, a PEG ratio of 1.20 and a beta of 1.91. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57. Devon Energy Co. has a 1 year low of $30.39 and a 1 year high of $55.09. The firm’s fifty day simple moving average is $35.39 and its 200 day simple moving average is $36.81.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.16. The business had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.25 billion. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. On average, sell-side analysts anticipate that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $0.24 dividend. This is an increase from Devon Energy’s previous quarterly dividend of $0.22. The ex-dividend date was Friday, March 14th. This represents a $0.96 annualized dividend and a dividend yield of 2.56%. Devon Energy’s dividend payout ratio (DPR) is presently 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.