Huber Capital Management LLC Has $661,000 Stock Holdings in Devon Energy Co. (NYSE:DVN)

Huber Capital Management LLC lowered its stake in shares of Devon Energy Co. (NYSE:DVN) by 33.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,200 shares of the energy company’s stock after selling 10,200 shares during the period. Huber Capital Management LLC’s holdings in Devon Energy were worth $661,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Pitcairn Co. increased its position in Devon Energy by 29.1% in the 4th quarter. Pitcairn Co. now owns 54,725 shares of the energy company’s stock worth $1,791,000 after purchasing an additional 12,342 shares during the last quarter. Westpac Banking Corp increased its holdings in Devon Energy by 165.2% in the fourth quarter. Westpac Banking Corp now owns 16,268 shares of the energy company’s stock worth $532,000 after buying an additional 10,133 shares during the last quarter. Bryce Point Capital LLC bought a new position in Devon Energy during the fourth quarter valued at approximately $468,000. Huntington National Bank lifted its stake in Devon Energy by 84.6% in the fourth quarter. Huntington National Bank now owns 4,910 shares of the energy company’s stock valued at $161,000 after acquiring an additional 2,250 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new stake in Devon Energy in the fourth quarter valued at approximately $150,000. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on DVN shares. JPMorgan Chase & Co. cut their price target on shares of Devon Energy from $48.00 to $42.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. Morgan Stanley set a $47.00 target price on Devon Energy and gave the company an “overweight” rating in a report on Wednesday, March 26th. StockNews.com upgraded Devon Energy from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Susquehanna boosted their target price on Devon Energy from $50.00 to $52.00 and gave the stock a “positive” rating in a report on Thursday, February 20th. Finally, Truist Financial boosted their price objective on shares of Devon Energy from $42.00 to $44.00 and gave the stock a “hold” rating in a research note on Thursday, February 20th. Ten investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Devon Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.29.

Devon Energy Stock Performance

NYSE:DVN opened at $37.92 on Thursday. Devon Energy Co. has a 12-month low of $30.39 and a 12-month high of $55.09. The firm has a market capitalization of $24.61 billion, a PE ratio of 8.32, a price-to-earnings-growth ratio of 1.20 and a beta of 1.91. The firm has a 50-day moving average price of $35.42 and a 200 day moving average price of $36.82. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.57.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.16. The firm had revenue of $4.40 billion for 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%. Research analysts anticipate that Devon Energy Co. will post 4.85 earnings per share for the current fiscal year.

Devon Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $0.24 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.53%. This is a boost 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.