Devon Energy Co. (NYSE:DVN) Shares Purchased by Citizens National Bank Trust Department

Citizens National Bank Trust Department raised its stake in shares of Devon Energy Co. (NYSE:DVN) by 1.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 26,999 shares of the energy company’s stock after purchasing an additional 510 shares during the quarter. Citizens National Bank Trust Department’s holdings in Devon Energy were worth $884,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Geode Capital Management LLC increased its position in shares of Devon Energy by 1.3% in the third quarter. Geode Capital Management LLC now owns 15,892,970 shares of the energy company’s stock worth $619,747,000 after acquiring an additional 206,884 shares in the last quarter. EnCap Energy Capital Fund XI L.P. acquired a new stake in shares of Devon Energy in the third quarter worth $461,857,000. Pacer Advisors Inc. increased its position in shares of Devon Energy by 16.9% in the third quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company’s stock worth $453,446,000 after acquiring an additional 1,677,652 shares in the last quarter. EnCap Partners GP LLC acquired a new stake in shares of Devon Energy in the third quarter worth $408,653,000. Finally, Victory Capital Management Inc. increased its position in shares of Devon Energy by 3.8% in the third quarter. Victory Capital Management Inc. now owns 9,971,343 shares of the energy company’s stock worth $390,079,000 after acquiring an additional 361,968 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on DVN shares. Wolfe Research raised 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. Sanford C. Bernstein raised shares of Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price target for the company in a report on Wednesday, January 15th. TD Cowen lowered their price target on shares of Devon Energy from $54.00 to $46.00 and set a “hold” rating for the company in a report on Tuesday, November 5th. Benchmark raised shares of Devon Energy from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a report on Tuesday, January 14th. Finally, Raymond James raised their price target on shares of Devon Energy from $53.00 to $54.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Ten analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Devon Energy currently has an average rating of “Moderate Buy” and a consensus price target of $49.26.

Devon Energy Trading Up 7.7 %

Devon Energy stock opened at $37.58 on Thursday. The firm’s 50-day moving average is $34.31 and its 200-day moving average is $38.40. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11. Devon Energy Co. has a 1 year low of $30.39 and a 1 year high of $55.09. The company has a market cap of $24.69 billion, a P/E ratio of 6.97, a PEG ratio of 1.08 and a beta of 1.98.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.16. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The company had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.25 billion. On average, equities analysts expect that Devon Energy Co. will post 4.68 earnings per share for the current year.

Devon Energy Increases Dividend

The company also recently disclosed 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 of this dividend is Friday, March 14th. This is an increase from Devon Energy’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a yield of 2.55%. Devon Energy’s dividend payout ratio (DPR) is currently 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.