O Shaughnessy Asset Management LLC Buys 195,103 Shares of Devon Energy Co. (NYSE:DVN)

O Shaughnessy Asset Management LLC lifted its stake in Devon Energy Co. (NYSE:DVN) by 42.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 654,943 shares of the energy company’s stock after buying an additional 195,103 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Devon Energy were worth $21,436,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. True Wealth Design LLC lifted its holdings in shares of Devon Energy by 3,889.3% during the third quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock valued at $44,000 after acquiring an additional 1,089 shares during the period. Cromwell Holdings LLC lifted its holdings in Devon Energy by 98.0% during the 4th 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 acquired a new position in Devon Energy in the fourth quarter valued at about $43,000. Endeavor Private Wealth Inc. bought a new stake in Devon Energy during the fourth quarter worth about $52,000. Finally, Thompson Investment Management Inc. increased its holdings in shares of 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 buying an additional 600 shares in the last quarter. Institutional investors own 69.72% of the company’s stock.

Devon Energy Price Performance

DVN stock opened at $36.79 on Monday. The stock 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. The stock has a 50-day moving average price of $35.38 and a two-hundred day moving average price of $36.84. Devon Energy Co. has a 1 year low of $30.39 and a 1 year high of $55.09. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57.

Devon Energy (NYSE:DVN) last announced its earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share (EPS) for the quarter, beating 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 business had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.25 billion. Equities analysts forecast that Devon Energy Co. will post 4.85 EPS for the current fiscal year.

Devon Energy Increases Dividend

The firm 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. The ex-dividend date is Friday, March 14th. This represents a $0.96 dividend on an annualized basis and a yield of 2.61%. This is an increase from Devon Energy’s previous quarterly dividend of $0.22. Devon Energy’s dividend payout ratio (DPR) is 21.05%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on DVN shares. Williams Trading set a $50.00 price target on Devon Energy in a research report on Wednesday, March 5th. StockNews.com upgraded Devon Energy from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Truist Financial upped their price target on shares of Devon Energy from $42.00 to $44.00 and gave the stock a “hold” rating in a research report on Thursday, February 20th. Wolfe Research upgraded shares of Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price objective for the company in a research report on Friday, January 3rd. Finally, Barclays upped their target price on shares of Devon Energy from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 20th. Ten research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $48.29.

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.