American Century Companies Inc. Has $29.36 Million Stock Position in Devon Energy Co. (NYSE:DVN)

American Century Companies Inc. increased its holdings in shares of Devon Energy Co. (NYSE:DVN) by 12.0% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 897,151 shares of the energy company’s stock after purchasing an additional 95,905 shares during the period. American Century Companies Inc.’s holdings in Devon Energy were worth $29,364,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. EnCap Energy Capital Fund XI L.P. bought a new position in Devon Energy during the third quarter worth $461,857,000. EnCap Partners GP LLC acquired a new stake in shares of Devon Energy during the 3rd quarter worth about $408,653,000. EnCap Energy Capital Fund X L.P. bought a new stake in shares of Devon Energy during the 3rd quarter worth about $230,928,000. Raymond James Financial Inc. acquired a new position in Devon Energy in the 4th quarter valued at about $154,170,000. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in Devon Energy by 90.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 2,724,407 shares of the energy company’s stock valued at $89,170,000 after acquiring an additional 1,296,590 shares during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on DVN shares. Citigroup decreased their target price on Devon Energy from $48.00 to $46.00 and set a “buy” rating on the stock in a research report on Monday, March 17th. Susquehanna upped their price objective on Devon Energy from $50.00 to $52.00 and gave the company a “positive” rating in a report on Thursday, February 20th. Williams Trading set a $50.00 target price on Devon Energy in a report on Wednesday, March 5th. Cowen downgraded shares of Devon Energy to a “hold” rating and decreased their price target for the company from $46.00 to $45.00 in a research note on Tuesday, February 18th. Finally, Piper Sandler lifted their price objective on shares of Devon Energy from $54.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, February 24th. Ten investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.29.

Devon Energy Price Performance

DVN stock opened at $36.79 on Friday. The stock has a market cap of $23.87 billion, a price-to-earnings ratio of 8.07, 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 current ratio of 1.04 and a quick ratio of 1.01. The company has a 50 day simple moving average of $35.38 and a 200 day simple moving average of $36.89. Devon Energy Co. has a 1 year low of $30.39 and a 1 year high of $55.09.

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

Devon Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a $0.24 dividend. 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 annualized dividend and a yield of 2.61%. Devon Energy’s dividend payout ratio (DPR) is currently 21.05%.

Devon Energy 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.