Kathmere Capital Management LLC Has $224,000 Stock Position in Devon Energy Co. (NYSE:DVN)

Kathmere Capital Management LLC cut its holdings in Devon Energy Co. (NYSE:DVN) by 34.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,854 shares of the energy company’s stock after selling 3,536 shares during the quarter. Kathmere Capital Management LLC’s holdings in Devon Energy were worth $224,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Assenagon Asset Management S.A. lifted its holdings in shares of Devon Energy by 312.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 328,029 shares of the energy company’s stock worth $10,736,000 after acquiring an additional 248,509 shares during the last quarter. San Luis Wealth Advisors LLC increased its position in Devon Energy by 39.2% during the 4th quarter. San Luis Wealth Advisors LLC now owns 19,756 shares of the energy company’s stock worth $647,000 after purchasing an additional 5,561 shares in the last quarter. Rockland Trust Co. lifted its stake in Devon Energy by 15.6% in the 4th quarter. Rockland Trust Co. now owns 6,395 shares of the energy company’s stock valued at $209,000 after purchasing an additional 865 shares during the last quarter. Fifth Third Wealth Advisors LLC boosted its position in Devon Energy by 35.4% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 15,240 shares of the energy company’s stock valued at $499,000 after buying an additional 3,981 shares in the last quarter. Finally, Signal Advisors Wealth LLC grew its stake in shares of Devon Energy by 25.8% during the fourth quarter. Signal Advisors Wealth LLC now owns 8,475 shares of the energy company’s stock worth $277,000 after buying an additional 1,739 shares during the last quarter. Institutional investors own 69.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on DVN. TD Cowen dropped their price target on Devon Energy from $54.00 to $46.00 and set a “hold” rating for the company in a research note on Tuesday, November 5th. Jefferies Financial Group assumed coverage on Devon Energy in a research report on Thursday, October 3rd. They issued a “hold” rating and a $45.00 target price for the company. Truist Financial reduced their price target on Devon Energy from $43.00 to $42.00 and set a “hold” rating on the stock in a report on Monday. Scotiabank dropped their price objective on shares of Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. lowered shares of Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 target price on the stock. in a report on Thursday, December 5th. Nine equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $49.27.

Devon Energy Stock Performance

NYSE:DVN opened at $38.42 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61. Devon Energy Co. has a twelve month low of $30.39 and a twelve month high of $55.09. The company has a fifty day moving average of $35.50 and a 200-day moving average of $40.40. The firm has a market capitalization of $25.24 billion, a P/E ratio of 7.13, a P/E/G ratio of 1.14 and a beta of 2.00.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.01. The firm had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.72 billion. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.65 earnings per share. As a group, sell-side analysts anticipate that Devon Energy Co. will post 4.72 EPS for the current year.

Devon Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were issued a dividend of $0.22 per share. The ex-dividend date was Friday, December 13th. This represents a $0.88 annualized dividend and a yield of 2.29%. Devon Energy’s payout ratio is 16.33%.

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.