Devon Energy Co. (NYSE:DVN) Stock Holdings Increased by Nilsine Partners LLC

Nilsine Partners LLC grew its holdings in shares of Devon Energy Co. (NYSE:DVN) by 169.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 26,618 shares of the energy company’s stock after acquiring an additional 16,747 shares during the quarter. Nilsine Partners LLC’s holdings in Devon Energy were worth $871,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Algert Global LLC increased its stake in Devon Energy by 17.8% during the 2nd quarter. Algert Global LLC now owns 9,719 shares of the energy company’s stock valued at $461,000 after buying an additional 1,466 shares during the period. Creative Planning increased its stake in shares of Devon Energy by 5.9% during the second quarter. Creative Planning now owns 98,957 shares of the energy company’s stock valued at $4,691,000 after acquiring an additional 5,476 shares during the period. NewEdge Advisors LLC raised its holdings in Devon Energy by 15.6% during the second quarter. NewEdge Advisors LLC now owns 191,109 shares of the energy company’s stock worth $9,059,000 after purchasing an additional 25,825 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Devon Energy by 13.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 41,610 shares of the energy company’s stock worth $1,972,000 after purchasing an additional 4,933 shares during the period. Finally, Quarry LP boosted its stake in Devon Energy by 32.1% during the 2nd quarter. Quarry LP now owns 1,832 shares of the energy company’s stock valued at $87,000 after purchasing an additional 445 shares in the last quarter. Institutional investors own 69.72% of the company’s stock.

Wall Street Analyst Weigh In

DVN has been the topic of a number of research reports. Wells Fargo & Company dropped their price objective on Devon Energy from $49.00 to $43.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Barclays dropped their price target on shares of Devon Energy from $55.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. Scotiabank cut their price target on shares of Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Piper Sandler lowered their price objective on shares of Devon Energy from $57.00 to $53.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Finally, Wolfe Research upgraded shares of Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 target price on the stock in a report on Friday, January 3rd. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.41.

Devon Energy Stock Performance

Shares of DVN opened at $34.88 on Wednesday. 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. The company has a market capitalization of $22.91 billion, a PE ratio of 6.47, a PEG ratio of 1.21 and a beta of 2.00. The company’s 50 day moving average price is $35.14 and its 200 day moving average price is $39.70.

Devon Energy (NYSE:DVN) last issued its earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.01. The company had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.72 billion. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The business’s revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.65 EPS. Research analysts expect that Devon Energy Co. will post 4.7 EPS for the current fiscal year.

Devon Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend was Friday, December 13th. Devon Energy’s dividend payout ratio is 16.33%.

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.