Atria Wealth Solutions Inc. Boosts Position in Devon Energy Co. (NYSE:DVN)

Atria Wealth Solutions Inc. boosted its holdings in shares of Devon Energy Co. (NYSE:DVN) by 8.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 101,895 shares of the energy company’s stock after buying an additional 8,350 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Devon Energy were worth $4,616,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Devon Energy during the 3rd quarter worth approximately $27,000. Sound Income Strategies LLC raised its position 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 buying an additional 255 shares during the last quarter. Rise Advisors LLC raised its position 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 buying an additional 669 shares during the last quarter. PFS Partners LLC purchased a new position in Devon Energy during the 4th quarter worth approximately $36,000. Finally, Naples Money Management LLC purchased a new position in Devon Energy during the 4th quarter worth approximately $40,000. 69.72% of the stock is owned by hedge funds and other institutional investors.

Devon Energy Trading Up 0.2 %

Shares of DVN opened at $52.72 on Friday. Devon Energy Co. has a 52-week low of $40.47 and a 52-week high of $55.09. The company has a quick ratio of 0.99, a current ratio of 1.07 and a debt-to-equity ratio of 0.46. The firm’s fifty day moving average is $48.88 and its two-hundred day moving average is $46.18. The stock has a market cap of $33.48 billion, a PE ratio of 9.04 and a beta of 2.19.

Devon Energy (NYSE:DVN) last announced its earnings results 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 company had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $3.88 billion. During the same quarter in the previous year, the company posted $1.66 EPS. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. Research analysts forecast that Devon Energy Co. will post 5.25 earnings per share for the current fiscal year.

Devon Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.76 annualized dividend and a yield of 3.34%. Devon Energy’s dividend payout ratio (DPR) is presently 15.09%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on DVN shares. Piper Sandler lifted their target price on shares of Devon Energy from $59.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Citigroup lifted their target price on shares of Devon Energy from $55.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, April 11th. JPMorgan Chase & Co. lifted their target price on shares of Devon Energy from $57.00 to $62.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Wells Fargo & Company raised shares of Devon Energy from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $46.00 to $59.00 in a report on Monday, April 1st. Finally, Barclays started coverage on shares of Devon Energy in a report on Wednesday, April 10th. They set an “equal weight” rating and a $59.00 target price for the company. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $58.33.

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.