US Bancorp DE Sells 17,101 Shares of Devon Energy Co. (NYSE:DVN)

US Bancorp DE trimmed its stake in shares of Devon Energy Co. (NYSE:DVN) by 13.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 110,739 shares of the energy company’s stock after selling 17,101 shares during the quarter. US Bancorp DE’s holdings in Devon Energy were worth $3,624,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of DVN. Stephens Inc. AR grew its position in Devon Energy by 4.3% during the 3rd quarter. Stephens Inc. AR now owns 22,095 shares of the energy company’s stock worth $864,000 after acquiring an additional 905 shares during the last quarter. Chicago Partners Investment Group LLC increased its stake in shares of Devon Energy by 12.0% during the third quarter. Chicago Partners Investment Group LLC now owns 7,346 shares of the energy company’s stock valued at $290,000 after buying an additional 789 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in shares of Devon Energy by 419.3% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,018,139 shares of the energy company’s stock valued at $39,830,000 after buying an additional 822,096 shares during the period. National Pension Service increased its stake in shares of Devon Energy by 34.7% during the third quarter. National Pension Service now owns 1,185,265 shares of the energy company’s stock valued at $46,368,000 after buying an additional 305,486 shares during the period. Finally, Asset Management One Co. Ltd. increased its stake in shares of Devon Energy by 1.0% during the third quarter. Asset Management One Co. Ltd. now owns 243,247 shares of the energy company’s stock valued at $9,516,000 after buying an additional 2,363 shares during the period. 69.72% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on DVN shares. Truist Financial boosted their target price on Devon Energy from $42.00 to $44.00 and gave the company a “hold” rating in a research note on Thursday, February 20th. Wolfe Research raised Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 target price on the stock in a research note on Friday, January 3rd. Benchmark reissued a “buy” rating and set a $44.00 target price on shares of Devon Energy in a research note on Thursday, February 20th. JPMorgan Chase & Co. cut Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 target price on the stock. in a research note on Thursday, December 5th. Finally, StockNews.com raised Devon Energy from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Ten analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Devon Energy has an average rating of “Moderate Buy” and an average target price of $48.87.

Devon Energy Trading Down 1.8 %

Devon Energy stock opened at $33.64 on Thursday. The company has a market capitalization of $21.83 billion, a price-to-earnings ratio of 7.38, a price-to-earnings-growth 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 $35.07 and its two-hundred day simple moving average is $37.85.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.16. The firm 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, equities analysts predict that Devon Energy Co. will post 4.85 earnings per share for the current fiscal year.

Devon Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders 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. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date is Friday, March 14th. Devon Energy’s dividend payout ratio is presently 21.05%.

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.