denkapparat Operations GmbH Purchases Shares of 7,010 Devon Energy Co. (NYSE:DVN)

denkapparat Operations GmbH acquired a new stake in shares of Devon Energy Co. (NYSE:DVN) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 7,010 shares of the energy company’s stock, valued at approximately $229,000.

Other large investors have also recently made changes to their positions in the company. Cromwell Holdings LLC grew its holdings in Devon Energy by 98.0% during the 4th quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company’s stock valued at $40,000 after buying an additional 598 shares in the last quarter. Sierra Ocean LLC purchased a new position in shares of Devon Energy in the fourth quarter valued at $43,000. True Wealth Design LLC increased its position in Devon Energy by 3,889.3% in the third quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock worth $44,000 after purchasing an additional 1,089 shares during the last quarter. Endeavor Private Wealth Inc. purchased a new stake in Devon Energy during the fourth quarter valued at $52,000. Finally, Thompson Investment Management Inc. lifted its position in Devon Energy by 60.0% during the fourth quarter. Thompson Investment Management Inc. now owns 1,600 shares of the energy company’s stock valued at $52,000 after purchasing an additional 600 shares during the last quarter. 69.72% of the stock is owned by institutional investors.

Devon Energy Price Performance

DVN opened at $36.79 on Friday. The company has a market capitalization of $23.87 billion, a price-to-earnings ratio of 8.07, a PEG ratio of 1.20 and a beta of 1.91. 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 Co. has a 12-month low of $30.39 and a 12-month high of $55.09. The business’s fifty day simple moving average is $35.38 and its 200-day simple moving average is $36.89.

Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, February 18th. The energy company reported $1.16 EPS 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 business had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.25 billion. On average, equities research analysts anticipate that Devon Energy Co. will post 4.85 earnings per share for the current fiscal year.

Devon Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.24 dividend. This is an increase from Devon Energy’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.96 dividend on an annualized basis and a yield of 2.61%. Devon Energy’s payout ratio is 21.05%.

Analyst Ratings Changes

Several brokerages have recently issued reports on DVN. Citigroup decreased their target price on shares of Devon Energy from $48.00 to $46.00 and set a “buy” rating on the stock in a research report on Monday, March 17th. Wells Fargo & Company decreased their price objective on Devon Energy from $49.00 to $43.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Piper Sandler raised their price objective on Devon Energy from $54.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, February 24th. Raymond James cut their target price on Devon Energy from $54.00 to $46.00 and set an “outperform” rating on the stock in a research report on Monday, March 10th. Finally, Sanford C. Bernstein upgraded Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price target for the company in a research report on Wednesday, January 15th. Ten investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $48.29.

About Devon Energy

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.