Banco Santander S.A. Acquires 98,135 Shares of Devon Energy Co. (NYSE:DVN)

Banco Santander S.A. grew its stake in Devon Energy Co. (NYSE:DVN) by 68.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 240,499 shares of the energy company’s stock after acquiring an additional 98,135 shares during the quarter. Banco Santander S.A.’s holdings in Devon Energy were worth $7,872,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of DVN. Capital Performance Advisors LLP bought a new position in Devon Energy in the 3rd quarter worth about $35,000. Cromwell Holdings LLC lifted its stake in shares of Devon Energy by 98.0% in the fourth quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company’s stock worth $40,000 after buying an additional 598 shares in the last quarter. Sierra Ocean LLC purchased a new stake in shares of Devon Energy during the fourth quarter valued at approximately $43,000. True Wealth Design LLC increased its position in shares of Devon Energy by 3,889.3% during the third quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock valued at $44,000 after acquiring an additional 1,089 shares in the last quarter. Finally, Activest Wealth Management raised its holdings in Devon Energy by 60.4% in the 3rd quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock worth $50,000 after acquiring an additional 480 shares during the last quarter. 69.72% of the stock is owned by hedge funds and other institutional investors.

Devon Energy Stock Performance

DVN opened at $34.74 on Friday. The company has a 50 day simple moving average of $35.24 and a two-hundred day simple moving average of $37.68. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01. The firm has a market cap of $22.54 billion, a P/E ratio of 7.62, a PEG ratio of 1.20 and a beta of 1.91. Devon Energy Co. has a 1-year low of $30.39 and a 1-year high of $55.09.

Devon Energy (NYSE:DVN) last released its earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.16. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The company had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.25 billion. Equities analysts forecast that Devon Energy Co. will post 4.85 earnings per share for the current fiscal year.

Devon Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors 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 2.76%. This is a boost from Devon Energy’s previous quarterly dividend of $0.22. Devon Energy’s dividend payout ratio (DPR) is currently 21.05%.

Analyst Upgrades and Downgrades

DVN has been the topic of several recent analyst reports. Sanford C. Bernstein upgraded Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 target price on the stock in a research note on Wednesday, January 15th. JPMorgan Chase & Co. downgraded Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 price objective for the company. in a report on Thursday, December 5th. Susquehanna boosted their target price on Devon Energy from $50.00 to $52.00 and gave the stock a “positive” rating in a research report on Thursday, February 20th. Piper Sandler raised their price target on shares of Devon Energy from $54.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, February 24th. Finally, StockNews.com raised shares of Devon Energy from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Ten equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $48.87.

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.