Arkfeld Wealth Strategies L.L.C. Has $1.32 Million Holdings in Devon Energy Co. (NYSE:DVN)

Arkfeld Wealth Strategies L.L.C. cut its holdings in Devon Energy Co. (NYSE:DVN) by 3.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 40,401 shares of the energy company’s stock after selling 1,565 shares during the period. Arkfeld Wealth Strategies L.L.C.’s holdings in Devon Energy were worth $1,322,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. William B. Walkup & Associates Inc. acquired a new position in Devon Energy during the second quarter worth $1,026,000. Bridgewater Associates LP acquired a new position in Devon Energy during the third quarter worth $9,426,000. Legacy Investment Solutions LLC acquired a new position in Devon Energy during the third quarter worth $8,002,000. Petrus Trust Company LTA increased its holdings in Devon Energy by 394.7% during the third quarter. Petrus Trust Company LTA now owns 21,827 shares of the energy company’s stock worth $854,000 after buying an additional 17,415 shares during the last quarter. Finally, CIBC Asset Management Inc increased its holdings in Devon Energy by 6.3% during the third quarter. CIBC Asset Management Inc now owns 107,182 shares of the energy company’s stock worth $4,193,000 after buying an additional 6,358 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Wolfe Research upgraded shares of Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 target price on the stock in a report on Friday, January 3rd. JPMorgan Chase & Co. downgraded shares of Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 price objective on the stock. in a report on Thursday, December 5th. Benchmark upgraded shares of Devon Energy from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a report on Tuesday, January 14th. Piper Sandler decreased their price objective on shares of Devon Energy from $57.00 to $53.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Finally, Truist Financial decreased their price objective on shares of Devon Energy from $43.00 to $42.00 and set a “hold” rating on the stock in a report on Monday, January 13th. Nine equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $49.41.

Devon Energy Trading Down 1.3 %

DVN opened at $35.98 on Friday. Devon Energy Co. has a twelve month low of $30.39 and a twelve month high of $55.09. The company has a 50-day simple moving average of $35.27 and a 200 day simple moving average of $39.90. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $23.64 billion, a price-to-earnings ratio of 6.68, a P/E/G ratio of 1.21 and a beta of 2.00.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.01. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The business had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter in the prior year, the business posted $1.65 earnings per share. Devon Energy’s revenue was up 4.9% compared to the same quarter last year. Analysts predict that Devon Energy Co. will post 4.7 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were issued a $0.22 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.45%. Devon Energy’s dividend payout ratio (DPR) is currently 16.33%.

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.