Devon Energy Co. (NYSE:DVN) Shares Purchased by Rockland Trust Co.

Rockland Trust Co. boosted its holdings in shares of Devon Energy Co. (NYSE:DVN) by 15.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,395 shares of the energy company’s stock after acquiring an additional 865 shares during the quarter. Rockland Trust Co.’s holdings in Devon Energy were worth $209,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DVN. Capital Performance Advisors LLP acquired a new stake in shares of Devon Energy during the 3rd quarter worth about $35,000. Future Financial Wealth Managment LLC purchased a new position in Devon Energy during the third quarter worth about $39,000. True Wealth Design LLC increased its position in shares of Devon Energy by 3,889.3% during the third quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock valued at $44,000 after acquiring an additional 1,089 shares during the last quarter. Hazlett Burt & Watson Inc. raised its stake in shares of Devon Energy by 29.8% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock valued at $49,000 after acquiring an additional 290 shares during the period. Finally, Activest Wealth Management lifted its holdings in shares of Devon Energy by 60.4% in the 3rd quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock worth $50,000 after acquiring an additional 480 shares during the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on DVN shares. Piper Sandler cut their target price on Devon Energy from $57.00 to $53.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Barclays decreased their target price on Devon Energy from $55.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 3rd. JPMorgan Chase & Co. downgraded Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 target price for the company. in a research report on Thursday, December 5th. Wells Fargo & Company reduced their price target on shares of Devon Energy from $49.00 to $43.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Finally, Truist Financial dropped their price objective on shares of Devon Energy from $43.00 to $42.00 and set a “hold” rating for the company in a report on Monday. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.27.

Devon Energy Trading Up 3.4 %

NYSE DVN opened at $38.45 on Thursday. Devon Energy Co. has a 12 month low of $30.39 and a 12 month high of $55.09. The company has a market capitalization of $25.26 billion, a price-to-earnings ratio of 7.13, a price-to-earnings-growth ratio of 1.07 and a beta of 2.00. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01. The firm’s fifty day moving average price is $35.54 and its 200 day moving average price is $40.42.

Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.01. The business had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.72 billion. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The business’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.65 earnings per share. On average, sell-side analysts expect that Devon Energy Co. will post 4.79 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were given a dividend of $0.22 per share. The ex-dividend date was Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.29%. Devon Energy’s dividend payout ratio (DPR) is presently 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.