Securian Asset Management Inc. Has $1.16 Million Stock Holdings in Devon Energy Co. (NYSE:DVN)

Securian Asset Management Inc. raised its position in Devon Energy Co. (NYSE:DVN) by 1.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 35,305 shares of the energy company’s stock after purchasing an additional 672 shares during the period. Securian Asset Management Inc.’s holdings in Devon Energy were worth $1,156,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DVN. Cromwell Holdings LLC grew its holdings in Devon Energy by 98.0% in the 4th quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company’s stock valued at $40,000 after buying an additional 598 shares in the last quarter. Sierra Ocean LLC acquired a new position in Devon Energy in the 4th quarter valued at $43,000. True Wealth Design LLC grew its holdings 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 in the last quarter. Activest Wealth Management grew its holdings in Devon Energy by 60.4% in the 3rd quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock valued at $50,000 after buying an additional 480 shares in the last quarter. Finally, Endeavor Private Wealth Inc. bought a new stake in shares of Devon Energy during the 4th quarter valued at $52,000. 69.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DVN has been the subject of a number of recent analyst reports. Benchmark reiterated a “buy” rating and set a $44.00 target price on shares of Devon Energy in a research report on Thursday, February 20th. Wolfe Research upgraded Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 target price for the company in a research report on Friday, January 3rd. Truist Financial upped their target price on Devon Energy from $42.00 to $44.00 and gave the company a “hold” rating in a research report on Thursday, February 20th. Royal Bank of Canada reiterated a “sector perform” rating and set a $50.00 target price on shares of Devon Energy in a research report on Friday, January 10th. Finally, StockNews.com upgraded Devon Energy from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $48.54.

Devon Energy Trading Up 2.1 %

Shares of DVN stock opened at $34.50 on Friday. The stock has a market cap of $22.39 billion, a price-to-earnings ratio of 7.56, a PEG ratio of 1.20 and a beta of 1.91. The stock has a 50-day moving average of $35.38 and a 200-day moving average of $37.37. 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 Co. has a 1-year low of $30.39 and a 1-year high of $55.09.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.16. The company had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.25 billion. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. On average, equities research analysts forecast that Devon Energy Co. will post 4.85 earnings per share for the current year.

Devon Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $0.24 dividend. This is a boost from Devon Energy’s previous quarterly dividend of $0.22. The ex-dividend date is Friday, March 14th. This represents a $0.96 annualized dividend and a dividend yield of 2.78%. Devon Energy’s dividend payout ratio is presently 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.