Vinva Investment Management Ltd Has $985,000 Stake in Devon Energy Co. (NYSE:DVN)

Vinva Investment Management Ltd reduced its stake in shares of Devon Energy Co. (NYSE:DVN) by 89.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 30,818 shares of the energy company’s stock after selling 249,362 shares during the quarter. Vinva Investment Management Ltd’s holdings in Devon Energy were worth $985,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Sfmg LLC grew its stake in shares of Devon Energy by 0.5% during the third quarter. Sfmg LLC now owns 64,871 shares of the energy company’s stock valued at $2,538,000 after purchasing an additional 294 shares during the last quarter. Redwood Wealth Management Group LLC grew its stake in shares of Devon Energy by 3.9% during the fourth quarter. Redwood Wealth Management Group LLC now owns 8,141 shares of the energy company’s stock valued at $266,000 after purchasing an additional 309 shares during the last quarter. Cornerstone Wealth Management LLC grew its stake in shares of Devon Energy by 1.6% during the fourth quarter. Cornerstone Wealth Management LLC now owns 21,242 shares of the energy company’s stock valued at $695,000 after purchasing an additional 326 shares during the last quarter. Annex Advisory Services LLC grew its stake in shares of Devon Energy by 1.2% during the fourth quarter. Annex Advisory Services LLC now owns 27,021 shares of the energy company’s stock valued at $884,000 after purchasing an additional 327 shares during the last quarter. Finally, Fiduciary Trust Co grew its stake in shares of Devon Energy by 3.1% during the third quarter. Fiduciary Trust Co now owns 11,074 shares of the energy company’s stock valued at $433,000 after purchasing an additional 329 shares during the last quarter. 69.72% of the stock is owned by institutional investors.

Devon Energy Trading Up 0.3 %

Shares of NYSE:DVN opened at $36.14 on Friday. Devon Energy Co. has a 12 month low of $30.39 and a 12 month high of $55.09. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. The company’s fifty day simple moving average is $35.46 and its 200 day simple moving average is $37.12. The firm has a market cap of $23.46 billion, a price-to-earnings ratio of 7.93, a PEG ratio of 1.20 and a beta of 1.91.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data 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 business had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.25 billion. As a group, research analysts forecast that Devon Energy Co. will post 4.85 EPS for the current fiscal year.

Devon Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders 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 yield of 2.66%. The ex-dividend date of this dividend is Friday, March 14th. Devon Energy’s payout ratio is presently 21.05%.

Wall Street Analyst Weigh In

DVN has been the topic of several research analyst reports. Truist Financial increased their price target on shares of Devon Energy from $42.00 to $44.00 and gave the company a “hold” rating in a research note on Thursday, February 20th. Piper Sandler raised their price objective on shares of Devon Energy from $54.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, February 24th. Susquehanna raised their price objective on shares of Devon Energy from $50.00 to $52.00 and gave the company a “positive” rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. reduced their price objective on shares of Devon Energy from $48.00 to $42.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. Finally, Barclays raised their price objective on shares of 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $48.46.

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.