Perpetual Ltd Sells 21,330 Shares of Devon Energy Corporation $DVN

Perpetual Ltd lessened its holdings in Devon Energy Corporation (NYSE:DVN) by 70.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,121 shares of the energy company’s stock after selling 21,330 shares during the period. Perpetual Ltd’s holdings in Devon Energy were worth $334,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. PFS Partners LLC bought a new position in Devon Energy in the 3rd quarter valued at about $25,000. First Horizon Corp bought a new position in Devon Energy in the 3rd quarter valued at about $26,000. Caldwell Trust Co bought a new position in Devon Energy in the 2nd quarter valued at about $25,000. Ameriflex Group Inc. raised its holdings in Devon Energy by 702.0% in the 3rd quarter. Ameriflex Group Inc. now owns 802 shares of the energy company’s stock valued at $28,000 after acquiring an additional 702 shares during the period. Finally, Accredited Wealth Management LLC raised its holdings in Devon Energy by 61.6% in the 3rd quarter. Accredited Wealth Management LLC now owns 808 shares of the energy company’s stock valued at $28,000 after acquiring an additional 308 shares during the period. Institutional investors own 69.72% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on DVN. Jefferies Financial Group increased their price target on shares of Devon Energy from $36.00 to $44.00 in a report on Monday, March 9th. Raymond James Financial increased their price target on shares of Devon Energy from $44.00 to $52.00 and gave the company an “outperform” rating in a report on Wednesday, February 11th. Truist Financial assumed coverage on Devon Energy in a research report on Tuesday, March 24th. They set a “buy” rating and a $63.00 price objective on the stock. Susquehanna increased their price objective on Devon Energy from $47.00 to $52.00 and gave the stock a “positive” rating in a research report on Friday, February 20th. Finally, Barclays increased their price objective on Devon Energy from $52.00 to $54.00 and gave the stock an “overweight” rating in a research report on Monday, March 16th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $51.39.

Devon Energy Stock Up 0.2%

Shares of NYSE DVN opened at $49.58 on Tuesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.90 and a current ratio of 0.98. Devon Energy Corporation has a 52 week low of $25.89 and a 52 week high of $52.71. The stock has a market capitalization of $30.81 billion, a P/E ratio of 11.89, a PEG ratio of 0.97 and a beta of 0.47. The stock’s fifty day moving average is $45.37 and its 200 day moving average is $38.86.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, February 17th. The energy company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.01. Devon Energy had a return on equity of 16.28% and a net margin of 15.37%.The company had revenue of $4.12 billion for the quarter, compared to analysts’ expectations of $3.67 billion. During the same quarter last year, the business earned $1.10 earnings per share. Devon Energy’s revenue was down 6.4% on a year-over-year basis. Sell-side analysts forecast that Devon Energy Corporation will post 4.85 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, March 13th were given a $0.24 dividend. The ex-dividend date was Friday, March 13th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.9%. Devon Energy’s dividend payout ratio (DPR) is presently 23.02%.

About Devon Energy

Devon Energy Corporation (NYSE: DVN) is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.

Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.