Thrivent Financial for Lutherans Has $186.71 Million Stake in Devon Energy Co. (NYSE:DVN)

Thrivent Financial for Lutherans increased its holdings in shares of Devon Energy Co. (NYSE:DVN) by 10.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,694,373 shares of the energy company’s stock after acquiring an additional 554,219 shares during the quarter. Thrivent Financial for Lutherans owned about 0.87% of Devon Energy worth $186,714,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. KBC Group NV raised its position in shares of Devon Energy by 14.0% in the third quarter. KBC Group NV now owns 72,780 shares of the energy company’s stock valued at $2,847,000 after purchasing an additional 8,920 shares during the period. CIBC Asset Management Inc grew its stake in Devon Energy by 6.3% in the 3rd quarter. CIBC Asset Management Inc now owns 107,182 shares of the energy company’s stock valued at $4,193,000 after buying an additional 6,358 shares during the last quarter. TrinityPoint Wealth LLC raised its holdings in Devon Energy by 40.5% in the 3rd quarter. TrinityPoint Wealth LLC now owns 63,966 shares of the energy company’s stock valued at $2,502,000 after acquiring an additional 18,431 shares during the period. Quest Partners LLC lifted its position in Devon Energy by 16.0% during the third quarter. Quest Partners LLC now owns 67,022 shares of the energy company’s stock worth $2,622,000 after acquiring an additional 9,234 shares during the last quarter. Finally, Aviso Wealth Management bought a new stake in shares of Devon Energy during the third quarter worth approximately $560,000. 69.72% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on DVN shares. JPMorgan Chase & Co. lowered their target price on Devon Energy from $48.00 to $42.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. Piper Sandler raised their price objective on Devon Energy from $54.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, February 24th. Citigroup cut their target price on Devon Energy from $48.00 to $46.00 and set a “buy” rating for the company in a research report on Monday. StockNews.com raised Devon Energy from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Finally, Barclays boosted their price target on Devon Energy from $43.00 to $44.00 and gave the company an “equal weight” rating in a research note on Thursday, February 20th. Ten analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $48.46.

Devon Energy Stock Up 1.7 %

NYSE:DVN opened at $35.13 on Tuesday. Devon Energy Co. has a one year low of $30.39 and a one year high of $55.09. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01. The company has a market cap of $22.80 billion, a PE ratio of 7.70, a P/E/G ratio of 1.20 and a beta of 1.91. The firm’s 50 day simple moving average is $35.41 and its 200 day simple moving average is $37.20.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.16. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The company had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.25 billion. On average, research analysts anticipate 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. Shareholders of record on Friday, March 14th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date is Friday, March 14th. This is a positive change from Devon Energy’s previous quarterly dividend of $0.22. Devon Energy’s payout ratio is 21.05%.

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.