denkapparat Operations GmbH Purchases Shares of 7,010 Devon Energy Co. (NYSE:DVN)

denkapparat Operations GmbH acquired a new position in Devon Energy Co. (NYSE:DVN) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 7,010 shares of the energy company’s stock, valued at approximately $229,000.

Several other large investors have also recently modified their holdings of DVN. True Wealth Design LLC grew its holdings in Devon Energy by 3,889.3% in the third quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock worth $44,000 after purchasing an additional 1,089 shares during the last quarter. Cromwell Holdings LLC grew its stake in Devon Energy by 98.0% during the 4th quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company’s stock worth $40,000 after buying an additional 598 shares during the last quarter. Sierra Ocean LLC purchased a new position in Devon Energy during the 4th quarter worth $43,000. Endeavor Private Wealth Inc. purchased a new stake in Devon Energy in the fourth quarter valued at about $52,000. Finally, Thompson Investment Management Inc. boosted its holdings in Devon Energy by 60.0% in the fourth quarter. Thompson Investment Management Inc. now owns 1,600 shares of the energy company’s stock worth $52,000 after acquiring an additional 600 shares in the last quarter. Institutional investors own 69.72% of the company’s stock.

Devon Energy Trading Down 0.3 %

Shares of DVN stock opened at $36.79 on Friday. The stock 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. The company has a market cap of $23.87 billion, a price-to-earnings ratio of 8.07, a PEG 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.

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 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 analysts’ expectations of $4.25 billion. On average, equities research analysts expect that Devon Energy Co. will post 4.85 EPS for the current fiscal year.

Devon Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.24 per share. This is a positive change from Devon Energy’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend is Friday, March 14th. Devon Energy’s payout ratio is 21.05%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on DVN shares. Morgan Stanley set a $47.00 price objective on shares of Devon Energy and gave the company an “overweight” rating in a report on Wednesday. Susquehanna lifted their price objective on shares of Devon Energy from $50.00 to $52.00 and gave the stock a “positive” rating in a research note on Thursday, February 20th. Piper Sandler upped their target price on Devon Energy from $54.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, February 24th. Truist Financial raised their target price on Devon Energy from $42.00 to $44.00 and gave the stock a “hold” rating in a research note on Thursday, February 20th. Finally, Barclays boosted their price target on Devon Energy from $43.00 to $44.00 and gave the company an “equal weight” rating in a research note on Thursday, February 20th. Ten equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $48.29.

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.