44 Wealth Management LLC Decreases Stock Position in Devon Energy Co. (NYSE:DVN)

44 Wealth Management LLC lessened its stake in shares of Devon Energy Co. (NYSE:DVN) by 12.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 27,339 shares of the energy company’s stock after selling 3,833 shares during the period. 44 Wealth Management LLC’s holdings in Devon Energy were worth $895,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Hazlett Burt & Watson Inc. raised its holdings in shares of Devon Energy by 29.8% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock valued at $49,000 after buying an additional 290 shares during the period. Sfmg LLC raised its holdings in shares of Devon Energy by 0.5% in the 3rd quarter. Sfmg LLC now owns 64,871 shares of the energy company’s stock valued at $2,538,000 after buying an additional 294 shares during the period. Redwood Wealth Management Group LLC raised its holdings in shares of Devon Energy by 3.9% in the 4th quarter. Redwood Wealth Management Group LLC now owns 8,141 shares of the energy company’s stock valued at $266,000 after buying an additional 309 shares during the period. Brighton Jones LLC raised its holdings in shares of Devon Energy by 0.7% in the 3rd quarter. Brighton Jones LLC now owns 42,510 shares of the energy company’s stock valued at $1,663,000 after buying an additional 310 shares during the period. Finally, Cornerstone Wealth Management LLC raised its holdings in shares of Devon Energy by 1.6% in the 4th quarter. Cornerstone Wealth Management LLC now owns 21,242 shares of the energy company’s stock valued at $695,000 after buying an additional 326 shares during the period. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Analysts Set New Price Targets

DVN has been the topic of several research analyst reports. Piper Sandler boosted their price objective on Devon Energy from $53.00 to $54.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. StockNews.com upgraded Devon Energy from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Raymond James upped their price target on Devon Energy from $53.00 to $54.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Susquehanna upped their price target on Devon Energy from $50.00 to $52.00 and gave the stock a “positive” rating in a report on Thursday. Finally, Mizuho cut their price target on Devon Energy from $51.00 to $47.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Ten research 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 company currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.83.

Devon Energy Stock Down 2.8 %

Shares of NYSE DVN opened at $37.49 on Friday. The stock has a market cap of $24.62 billion, a PE ratio of 8.22, a price-to-earnings-growth ratio of 1.17 and a beta of 1.98. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. Devon Energy Co. has a 52-week low of $30.39 and a 52-week high of $55.09. The business has a 50-day moving average price of $34.47 and a 200 day moving average price of $38.37.

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 analysts’ consensus estimates of $1.00 by $0.16. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. The company had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.25 billion. Equities research analysts forecast that Devon Energy Co. will post 4.85 earnings per share for the current year.

Devon Energy Increases Dividend

The firm also recently announced 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. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.56%. This is an increase from Devon Energy’s previous quarterly dividend of $0.22. The ex-dividend date is Friday, March 14th. Devon Energy’s dividend payout ratio is 21.05%.

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.