Devon Energy Co. (NYSE:DVN) Stock Holdings Lifted by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Devon Energy Co. (NYSE:DVN) by 2.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 139,677 shares of the energy company’s stock after purchasing an additional 3,359 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Devon Energy were worth $4,572,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DVN. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Devon Energy in the third quarter valued at about $806,000. PNC Financial Services Group Inc. lifted its position in shares of Devon Energy by 14.8% in the third quarter. PNC Financial Services Group Inc. now owns 174,495 shares of the energy company’s stock worth $6,826,000 after buying an additional 22,534 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Devon Energy by 1.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,881,720 shares of the energy company’s stock worth $151,853,000 after buying an additional 69,442 shares during the last quarter. Nwam LLC acquired a new stake in shares of Devon Energy in the third quarter worth about $562,000. Finally, Great Valley Advisor Group Inc. lifted its position in shares of Devon Energy by 17.4% in the third quarter. Great Valley Advisor Group Inc. now owns 7,226 shares of the energy company’s stock worth $283,000 after buying an additional 1,073 shares during the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on DVN shares. Wells Fargo & Company reduced their price target on Devon Energy from $49.00 to $43.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Benchmark reaffirmed a “buy” rating and issued a $44.00 price target on shares of Devon Energy in a research report on Thursday, February 20th. Piper Sandler boosted their price target on Devon Energy from $54.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. Susquehanna boosted their price target on Devon Energy from $50.00 to $52.00 and gave the stock a “positive” rating in a research report on Thursday, February 20th. Finally, Truist Financial boosted 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. Ten research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $48.46.

Devon Energy Trading Up 0.1 %

DVN stock opened at $36.18 on Monday. Devon Energy Co. has a 1-year low of $30.39 and a 1-year high of $55.09. The firm has a market cap of $23.48 billion, a P/E ratio of 7.93, a P/E/G ratio of 1.20 and a beta of 1.91. The business’s 50 day moving average is $35.46 and its 200-day moving average is $36.98. 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 released its quarterly earnings data 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. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. The company had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.25 billion. Equities analysts anticipate that Devon Energy Co. will post 4.85 earnings per share for the current fiscal year.

Devon Energy Increases Dividend

The business also recently disclosed 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 positive change from Devon Energy’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 2.65%. The ex-dividend date is Friday, March 14th. Devon Energy’s dividend payout ratio is currently 21.05%.

About Devon Energy

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.