Devon Energy Co. (NYSE:DVN) Shares Bought by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Devon Energy Co. (NYSE:DVN) by 2.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 139,677 shares of the energy company’s stock after acquiring an additional 3,359 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Devon Energy were worth $4,572,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC boosted its position in Devon Energy by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 15,892,970 shares of the energy company’s stock valued at $619,747,000 after purchasing an additional 206,884 shares during the period. EnCap Energy Capital Fund XI L.P. acquired a new position in Devon Energy during the 3rd quarter valued at approximately $461,857,000. EnCap Partners GP LLC acquired a new position in Devon Energy during the 3rd quarter valued at approximately $408,653,000. Victory Capital Management Inc. boosted its position in Devon Energy by 2.3% during the 4th quarter. Victory Capital Management Inc. now owns 10,203,812 shares of the energy company’s stock valued at $333,971,000 after purchasing an additional 232,469 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Devon Energy by 1.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,793,610 shares of the energy company’s stock valued at $265,766,000 after purchasing an additional 70,848 shares during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Stock Performance

Shares of NYSE DVN opened at $36.18 on Monday. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $23.48 billion, a price-to-earnings ratio of 7.93, a PEG ratio of 1.20 and a beta of 1.91. The stock’s fifty day simple moving average is $35.46 and its 200 day simple moving average is $36.98. Devon Energy Co. has a 52-week low of $30.39 and a 52-week high of $55.09.

Devon Energy (NYSE:DVN) last issued its earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.16. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. The business had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.25 billion. As a group, sell-side analysts forecast that Devon Energy Co. will post 4.85 earnings per share for the current fiscal year.

Devon Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.24 per share. This is an increase from Devon Energy’s previous quarterly dividend of $0.22. The ex-dividend date is Friday, March 14th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.65%. Devon Energy’s payout ratio is currently 21.05%.

Analyst Upgrades and Downgrades

DVN has been the subject of a number of analyst reports. Truist Financial boosted their price objective on Devon Energy from $42.00 to $44.00 and gave the company a “hold” rating in a research report on Thursday, February 20th. Piper Sandler lifted their target price on Devon Energy from $54.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, February 24th. Williams Trading set a $50.00 target price on Devon Energy in a research note on Wednesday, March 5th. Wolfe Research raised Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 target price on the stock in a research note on Friday, January 3rd. Finally, Citigroup cut their target price on Devon Energy from $48.00 to $46.00 and set a “buy” rating on the stock in a research note on Monday, March 17th. Ten research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $48.46.

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.