Pekin Hardy Strauss Inc. Has $5.67 Million Stock Holdings in Devon Energy Co. (NYSE:DVN)

Pekin Hardy Strauss Inc. reduced its position in shares of Devon Energy Co. (NYSE:DVN) by 24.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 173,110 shares of the energy company’s stock after selling 56,582 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Devon Energy were worth $5,666,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in DVN. Private Advisor Group LLC raised its stake in Devon Energy by 15.1% during the 3rd quarter. Private Advisor Group LLC now owns 96,216 shares of the energy company’s stock worth $3,764,000 after buying an additional 12,607 shares during the period. International Assets Investment Management LLC raised its stake in Devon Energy by 4,125.7% during the 3rd quarter. International Assets Investment Management LLC now owns 2,280,961 shares of the energy company’s stock worth $89,231,000 after buying an additional 2,226,983 shares during the period. Mediolanum International Funds Ltd raised its stake in Devon Energy by 55.3% during the 3rd quarter. Mediolanum International Funds Ltd now owns 156,490 shares of the energy company’s stock worth $6,087,000 after buying an additional 55,704 shares during the period. Allworth Financial LP increased its holdings in Devon Energy by 8.7% during the 3rd quarter. Allworth Financial LP now owns 6,079 shares of the energy company’s stock worth $238,000 after purchasing an additional 484 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in Devon Energy by 19.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 61,970 shares of the energy company’s stock worth $2,414,000 after purchasing an additional 10,141 shares in the last quarter. 69.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Citigroup decreased their price objective on Devon Energy from $55.00 to $48.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. Truist Financial boosted their price objective on Devon Energy from $42.00 to $44.00 and gave the stock a “hold” rating in a report on Thursday. Wells Fargo & Company decreased their price objective on Devon Energy from $49.00 to $43.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. StockNews.com raised Devon Energy from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Finally, Susquehanna boosted their price objective on Devon Energy from $50.00 to $52.00 and gave the stock a “positive” rating in a report on Thursday. Ten analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.83.

Devon Energy Price Performance

Shares of NYSE DVN opened at $37.49 on Friday. The stock has a fifty day simple moving average of $34.47 and a two-hundred day simple moving average of $38.35. Devon Energy Co. has a 1-year low of $30.39 and a 1-year high of $55.09. The firm has a market cap of $24.33 billion, a price-to-earnings ratio of 8.22, a price-to-earnings-growth ratio of 1.20 and a beta of 1.98. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.16. The business had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.25 billion. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. Analysts anticipate that Devon Energy Co. will post 4.85 earnings per share for the current year.

Devon Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.96 annualized dividend and a dividend yield of 2.56%. This is an increase from Devon Energy’s previous quarterly dividend of $0.22. Devon Energy’s dividend payout ratio is currently 19.30%.

Devon Energy 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.