Veracity Capital LLC Has $349,000 Stake in Devon Energy Co. (NYSE:DVN)

Veracity Capital LLC boosted its holdings in shares of Devon Energy Co. (NYSE:DVN) by 23.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,654 shares of the energy company’s stock after buying an additional 2,004 shares during the period. Veracity Capital LLC’s holdings in Devon Energy were worth $349,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of DVN. Capital Performance Advisors LLP acquired a new stake in shares of Devon Energy during the 3rd quarter valued at about $35,000. Future Financial Wealth Managment LLC acquired a new stake in Devon Energy during the third quarter valued at approximately $39,000. True Wealth Design LLC grew its stake in shares of 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 purchasing an additional 1,089 shares during the period. Hazlett Burt & Watson Inc. raised its holdings 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 worth $49,000 after buying an additional 290 shares in the last quarter. Finally, Activest Wealth Management lifted its position in shares of Devon Energy by 60.4% during the 3rd quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock worth $50,000 after buying an additional 480 shares during the period. Institutional investors own 69.72% of the company’s stock.

Devon Energy Price Performance

DVN opened at $36.43 on Friday. The company has a fifty day moving average price of $35.31 and a two-hundred day moving average price of $40.02. The firm has a market capitalization of $23.93 billion, a PE ratio of 6.76, a P/E/G ratio of 1.22 and a beta of 2.00. Devon Energy Co. has a 52 week low of $30.39 and a 52 week high of $55.09. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.01. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The business had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter in the prior year, the company posted $1.65 earnings per share. The firm’s revenue was up 4.9% on a year-over-year basis. As a group, analysts anticipate that Devon Energy Co. will post 4.68 earnings per share for the current year.

Devon Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were given a $0.22 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.42%. Devon Energy’s dividend payout ratio is 16.33%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on DVN shares. Truist Financial lowered their price target on Devon Energy from $43.00 to $42.00 and set a “hold” rating on the stock in a research report on Monday, January 13th. TD Cowen lowered their target price on shares of Devon Energy from $54.00 to $46.00 and set a “hold” rating on the stock in a report on Tuesday, November 5th. Jefferies Financial Group began coverage on shares of Devon Energy in a report on Thursday, October 3rd. They set a “hold” rating and a $45.00 price target for the company. Wells Fargo & Company decreased their price objective on shares of Devon Energy from $49.00 to $43.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Finally, Scotiabank cut their target price on shares of Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Nine analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $49.41.

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.