Oppenheimer & Co. Inc. Sells 47,556 Shares of Devon Energy Co. (NYSE:DVN)

Oppenheimer & Co. Inc. trimmed its holdings in Devon Energy Co. (NYSE:DVN) by 33.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 93,597 shares of the energy company’s stock after selling 47,556 shares during the period. Oppenheimer & Co. Inc.’s holdings in Devon Energy were worth $3,063,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Capital Performance Advisors LLP bought a new stake in Devon Energy in the third quarter worth $35,000. Cromwell Holdings LLC lifted its position 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 during the last quarter. Sierra Ocean LLC bought a new stake in shares of Devon Energy during the 4th quarter worth about $43,000. True Wealth Design LLC increased its holdings in shares of Devon Energy by 3,889.3% during the 3rd 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 during the last quarter. Finally, Hazlett Burt & Watson Inc. raised its stake in shares of Devon Energy by 29.8% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock valued at $49,000 after acquiring an additional 290 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on DVN. Mizuho decreased their target price on Devon Energy from $51.00 to $47.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Truist Financial raised their target price on shares of 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 upgraded shares of Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 target price on the stock in a report on Friday, January 3rd. Benchmark restated a “buy” rating and set a $44.00 price target on shares of Devon Energy in a report on Thursday, February 20th. Finally, 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. Ten analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $48.87.

Devon Energy Stock Up 1.0 %

NYSE DVN opened at $36.24 on Friday. Devon Energy Co. has a 1-year low of $30.39 and a 1-year high of $55.09. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57. The stock’s 50 day moving average is $34.94 and its two-hundred day moving average is $38.05. The company has a market capitalization of $23.52 billion, a price-to-earnings ratio of 7.95, a PEG ratio of 1.20 and a beta of 1.98.

Devon Energy (NYSE:DVN) last announced its quarterly 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. The firm had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.25 billion. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. Equities analysts forecast that Devon Energy Co. will post 4.85 earnings per share for the current fiscal year.

Devon Energy Increases Dividend

The company 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 dividend on an annualized basis and a dividend yield of 2.65%. This is a boost from Devon Energy’s previous quarterly dividend of $0.22. Devon Energy’s dividend payout ratio (DPR) is 21.05%.

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.