Loomis Sayles & Co. L P Sells 1,356 Shares of Devon Energy Co. (NYSE:DVN)

Loomis Sayles & Co. L P cut its holdings in shares of Devon Energy Co. (NYSE:DVN) by 9.5% during the fourth quarter, Holdings Channel reports. The fund owned 12,965 shares of the energy company’s stock after selling 1,356 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Devon Energy were worth $424,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Cromwell Holdings LLC increased its holdings in shares of Devon Energy by 98.0% in the fourth quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company’s stock valued at $40,000 after purchasing an additional 598 shares during the last quarter. Sierra Ocean LLC bought a new stake in shares of Devon Energy during the 4th quarter worth about $43,000. True Wealth Design LLC grew its stake in Devon Energy by 3,889.3% in the 3rd quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock valued at $44,000 after buying an additional 1,089 shares during the last quarter. Endeavor Private Wealth Inc. bought a new position in Devon Energy in the 4th quarter valued at about $52,000. Finally, Thompson Investment Management Inc. lifted its position in Devon Energy by 60.0% during 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 during the last quarter. Institutional investors own 69.72% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on DVN. Cowen lowered Devon Energy to a “hold” rating and lowered their target price for the stock from $46.00 to $45.00 in a research note on Tuesday, February 18th. Truist Financial increased their price objective on Devon Energy from $42.00 to $44.00 and gave the stock a “hold” rating in a research report on Thursday, February 20th. Barclays upped their price target on shares of Devon Energy from $43.00 to $44.00 and gave the company an “equal weight” rating in a research note on Thursday, February 20th. Williams Trading set a $50.00 price objective on shares of Devon Energy in a research note on Wednesday, March 5th. Finally, Citigroup cut their price target on Devon Energy from $48.00 to $46.00 and set a “buy” rating for the company in a research note on Monday, March 17th. Ten equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Devon Energy currently has an average rating of “Moderate Buy” and a consensus price target of $48.29.

Devon Energy Price Performance

Shares of DVN opened at $36.79 on Friday. The firm has a market cap of $23.87 billion, a PE ratio of 8.07, a price-to-earnings-growth ratio of 1.20 and a beta of 1.91. Devon Energy Co. has a 52-week low of $30.39 and a 52-week high of $55.09. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.04. The business’s 50 day moving average price is $35.38 and its two-hundred day moving average price is $36.87.

Devon Energy (NYSE:DVN) last issued its 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 business had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.25 billion. On average, equities analysts anticipate that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Increases Dividend

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