Jackson Creek Investment Advisors LLC Has $203,000 Stock Position in Devon Energy Co. (NYSE:DVN)

Jackson Creek Investment Advisors LLC lowered its stake in Devon Energy Co. (NYSE:DVN) by 63.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,187 shares of the energy company’s stock after selling 10,857 shares during the quarter. Jackson Creek Investment Advisors LLC’s holdings in Devon Energy were worth $203,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in DVN. EnCap Energy Capital Fund XI L.P. acquired a new position in shares of Devon Energy in the 3rd quarter valued at $461,857,000. EnCap Partners GP LLC acquired a new position in shares of Devon Energy in the 3rd quarter valued at $408,653,000. EnCap Energy Capital Fund X L.P. acquired a new position in shares of Devon Energy in the 3rd quarter valued at $230,928,000. Raymond James Financial Inc. acquired a new position in shares of Devon Energy in the 4th quarter valued at $154,170,000. Finally, Pacer Advisors Inc. lifted its stake in shares of Devon Energy by 16.9% in the 3rd quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company’s stock valued at $453,446,000 after purchasing an additional 1,677,652 shares during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on DVN shares. Sanford C. Bernstein raised Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price target on the stock in a research note on Wednesday, January 15th. Truist Financial raised their price objective on Devon Energy from $42.00 to $44.00 and gave the stock a “hold” rating in a research note on Thursday, February 20th. Cowen downgraded Devon Energy to a “hold” rating and dropped their price objective for the stock from $46.00 to $45.00 in a research note on Tuesday, February 18th. Raymond James raised their price objective on Devon Energy from $53.00 to $54.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Finally, Citigroup dropped their price objective on Devon Energy from $55.00 to $48.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. Ten analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $48.87.

Devon Energy Price Performance

Shares of NYSE DVN opened at $34.74 on Friday. The stock has a market capitalization of $22.54 billion, a price-to-earnings ratio of 7.62, a PEG ratio of 1.20 and a beta of 1.91. The business has a 50-day moving average of $35.24 and a 200-day moving average of $37.68. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01. Devon Energy Co. has a fifty-two week low of $30.39 and a fifty-two week high of $55.09.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.16. The company 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%. As a group, sell-side 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 disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $0.24 dividend. This is a boost from Devon Energy’s previous quarterly dividend of $0.22. The ex-dividend date is Friday, March 14th. This represents a $0.96 annualized dividend and a dividend yield of 2.76%. 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.