Howard Capital Management Inc. Has $885,000 Stock Holdings in Devon Energy Co. (NYSE:DVN)

Howard Capital Management Inc. increased its stake in shares of Devon Energy Co. (NYSE:DVN) by 12.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 27,043 shares of the energy company’s stock after buying an additional 2,902 shares during the period. Howard Capital Management Inc.’s holdings in Devon Energy were worth $885,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Capital Performance Advisors LLP bought a new stake in shares of Devon Energy during the third quarter worth approximately $35,000. Cromwell Holdings LLC lifted its holdings in Devon Energy by 98.0% during the 4th quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company’s stock worth $40,000 after purchasing an additional 598 shares during the last quarter. Sierra Ocean LLC bought a new stake in Devon Energy in the 4th quarter valued at $43,000. True Wealth Design LLC grew its holdings in Devon Energy by 3,889.3% in the 3rd quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock valued at $44,000 after buying an additional 1,089 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. increased its position in Devon Energy by 29.8% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock worth $49,000 after buying an additional 290 shares during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.

Analyst Upgrades and Downgrades

DVN has been the subject of a number of recent research reports. Barclays boosted their target price on shares of Devon Energy from $43.00 to $44.00 and gave the company an “equal weight” rating in a research report on Thursday. Susquehanna boosted their price objective on shares of Devon Energy from $50.00 to $52.00 and gave the company a “positive” rating in a report on Thursday. Piper Sandler raised their target price on shares of Devon Energy from $53.00 to $54.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Truist Financial lifted their price target on shares of Devon Energy from $42.00 to $44.00 and gave the company a “hold” rating in a research report on Thursday. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $50.00 price target on shares of Devon Energy in a research report on Friday, January 10th. Ten analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Devon Energy has a consensus rating of “Moderate Buy” and a consensus price target of $48.83.

Devon Energy Trading Down 2.8 %

Shares of Devon Energy stock opened at $37.49 on Monday. The firm’s 50 day moving average is $34.47 and its 200 day moving average is $38.31. The firm has a market capitalization of $24.33 billion, a PE ratio of 8.22, a price-to-earnings-growth ratio of 1.20 and a beta of 1.98. Devon Energy Co. has a 1 year low of $30.39 and a 1 year high of $55.09. 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 posted its earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share 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 firm had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.25 billion. Equities research analysts forecast 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 will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a $0.24 dividend. The ex-dividend date 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 2.56%. Devon Energy’s dividend payout ratio (DPR) is currently 19.30%.

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.