Dorsey & Whitney Trust CO LLC Has $284,000 Holdings in Devon Energy Co. (NYSE:DVN)

Dorsey & Whitney Trust CO LLC grew its stake in Devon Energy Co. (NYSE:DVN) by 6.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 8,681 shares of the energy company’s stock after buying an additional 499 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Devon Energy were worth $284,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Sfmg LLC lifted its position in shares of Devon Energy by 0.5% in the third quarter. Sfmg LLC now owns 64,871 shares of the energy company’s stock worth $2,538,000 after buying an additional 294 shares during the last quarter. Redwood Wealth Management Group LLC increased its stake in shares of Devon Energy by 3.9% in the fourth quarter. Redwood Wealth Management Group LLC now owns 8,141 shares of the energy company’s stock worth $266,000 after purchasing an additional 309 shares during the period. Cornerstone Wealth Management LLC increased its stake in shares of Devon Energy by 1.6% in the fourth quarter. Cornerstone Wealth Management LLC now owns 21,242 shares of the energy company’s stock worth $695,000 after purchasing an additional 326 shares during the period. Annex Advisory Services LLC increased its stake in shares of Devon Energy by 1.2% in the fourth quarter. Annex Advisory Services LLC now owns 27,021 shares of the energy company’s stock worth $884,000 after purchasing an additional 327 shares during the period. Finally, Fiduciary Trust Co increased its stake in shares of Devon Energy by 3.1% in the third quarter. Fiduciary Trust Co now owns 11,074 shares of the energy company’s stock worth $433,000 after purchasing an additional 329 shares during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Stock Up 0.5 %

Shares of DVN opened at $34.40 on Wednesday. The company has a market capitalization of $22.32 billion, a P/E ratio of 7.54, a PEG ratio of 1.20 and a beta of 1.91. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01. Devon Energy Co. has a one year low of $30.39 and a one year high of $55.09. The business’s 50 day simple moving average is $35.32 and its 200-day simple moving average is $37.49.

Devon Energy (NYSE:DVN) last announced its earnings results on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.00 by $0.16. The business had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.25 billion. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. As a group, sell-side analysts predict that Devon Energy Co. will post 4.85 EPS for the current fiscal year.

Devon Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.24 per share. This is an increase from Devon Energy’s previous quarterly dividend of $0.22. The ex-dividend date is Friday, March 14th. This represents a $0.96 annualized dividend and a yield of 2.79%. Devon Energy’s dividend payout ratio is currently 21.05%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Cowen lowered Devon Energy to a “hold” rating and dropped their price objective for the stock from $46.00 to $45.00 in a research note on Tuesday, February 18th. Benchmark reiterated a “buy” rating and issued a $44.00 price objective on shares of Devon Energy in a research note on Thursday, February 20th. Raymond James dropped their price objective on Devon Energy from $54.00 to $46.00 and set an “outperform” rating on the stock in a research note on Monday. Piper Sandler lifted their price objective on Devon Energy from $54.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, February 24th. Finally, Mizuho lowered their price target on Devon Energy from $51.00 to $47.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.58.

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.