Larson Financial Group LLC Has $1.91 Million Holdings in Devon Energy Co. (NYSE:DVN)

Larson Financial Group LLC lessened its holdings in shares of Devon Energy Co. (NYSE:DVN) by 11.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 42,150 shares of the energy company’s stock after selling 5,232 shares during the quarter. Larson Financial Group LLC’s holdings in Devon Energy were worth $1,909,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Devon Energy during the 3rd quarter worth $27,000. Sound Income Strategies LLC increased its holdings in Devon Energy by 60.7% during the 4th quarter. Sound Income Strategies LLC now owns 675 shares of the energy company’s stock worth $31,000 after purchasing an additional 255 shares in the last quarter. Rise Advisors LLC increased its holdings in Devon Energy by 1,365.3% during the 4th quarter. Rise Advisors LLC now owns 718 shares of the energy company’s stock worth $33,000 after purchasing an additional 669 shares in the last quarter. PFS Partners LLC bought a new position in Devon Energy during the 4th quarter worth about $36,000. Finally, Naples Money Management LLC bought a new position in Devon Energy during the 4th quarter worth about $40,000. Institutional investors and hedge funds own 69.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on DVN. Raymond James lowered their target price on Devon Energy from $53.00 to $52.00 and set an “outperform” rating for the company in a report on Wednesday, January 24th. Truist Financial increased their target price on Devon Energy from $66.00 to $69.00 and gave the stock a “buy” rating in a report on Monday. Mizuho lowered their target price on Devon Energy from $54.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, January 11th. Scotiabank increased their target price on Devon Energy from $53.00 to $67.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. Finally, Wells Fargo & Company upgraded Devon Energy from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $46.00 to $59.00 in a report on Monday, April 1st. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Devon Energy currently has a consensus rating of “Moderate Buy” and an average price target of $58.28.

Devon Energy Stock Performance

DVN stock traded up $0.43 during mid-day trading on Tuesday, hitting $52.56. 1,903,440 shares of the company were exchanged, compared to its average volume of 7,903,457. The business has a 50 day simple moving average of $48.09 and a 200-day simple moving average of $45.98. The company has a current ratio of 1.07, a quick ratio of 0.99 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $33.38 billion, a PE ratio of 8.96 and a beta of 2.19. Devon Energy Co. has a 1-year low of $40.47 and a 1-year high of $55.09.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, February 27th. The energy company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.02. Devon Energy had a net margin of 24.56% and a return on equity of 31.72%. The firm had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $3.88 billion. During the same period last year, the business posted $1.66 earnings per share. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, equities analysts forecast that Devon Energy Co. will post 5.14 earnings per share for the current year.

Devon Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a $0.44 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.35%. Devon Energy’s payout ratio is 15.09%.

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.