WR Wealth Planners LLC Decreases Stake in Devon Energy Co. (NYSE:DVN)

WR Wealth Planners LLC reduced its holdings in Devon Energy Co. (NYSE:DVN) by 37.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,879 shares of the energy company’s stock after selling 1,699 shares during the period. WR Wealth Planners LLC’s holdings in Devon Energy were worth $94,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of DVN. Integrated Advisors Network LLC lifted its stake in shares of Devon Energy by 6.0% in the third quarter. Integrated Advisors Network LLC now owns 7,875 shares of the energy company’s stock worth $308,000 after buying an additional 446 shares in the last quarter. JFS Wealth Advisors LLC lifted its stake in shares of Devon Energy by 93.2% in the third quarter. JFS Wealth Advisors LLC now owns 1,669 shares of the energy company’s stock worth $65,000 after buying an additional 805 shares in the last quarter. Financial Advocates Investment Management lifted its stake in shares of Devon Energy by 10.0% in the third quarter. Financial Advocates Investment Management now owns 11,069 shares of the energy company’s stock worth $433,000 after buying an additional 1,007 shares in the last quarter. US Bancorp DE raised its stake in Devon Energy by 1.6% during the third quarter. US Bancorp DE now owns 127,840 shares of the energy company’s stock worth $5,001,000 after purchasing an additional 2,026 shares during the period. Finally, Stephens Inc. AR raised its stake in Devon Energy by 4.3% during the third quarter. Stephens Inc. AR now owns 22,095 shares of the energy company’s stock worth $864,000 after purchasing an additional 905 shares during the period. 69.72% of the stock is owned by hedge funds and other institutional investors.

Devon Energy Trading Up 1.0 %

Shares of DVN stock opened at $36.24 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.04. The stock has a market capitalization of $23.52 billion, a P/E ratio of 7.95, a price-to-earnings-growth ratio of 1.20 and a beta of 1.98. The company has a 50 day moving average price of $34.94 and a 200 day moving average price of $38.05. Devon Energy Co. has a fifty-two week low of $30.39 and a fifty-two week high of $55.09.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $4.25 billion. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. Equities research analysts predict that Devon Energy Co. will post 4.85 EPS for the current fiscal year.

Devon Energy Increases Dividend

The company also recently declared 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 represents a $0.96 annualized dividend and a yield of 2.65%. The ex-dividend date is Friday, March 14th. This is a boost from Devon Energy’s previous quarterly dividend of $0.22. Devon Energy’s payout ratio is 21.05%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. TD Cowen reduced their target price on shares of Devon Energy from $54.00 to $46.00 and set a “hold” rating on the stock in a research note on Tuesday, November 5th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $50.00 target price on shares of Devon Energy in a research note on Friday, January 10th. Piper Sandler lifted their target price on shares of Devon Energy from $54.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, February 24th. Wolfe Research raised 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 research note on Friday, January 3rd. Finally, Susquehanna lifted their target price on shares of Devon Energy from $50.00 to $52.00 and gave the stock a “positive” rating in a research note on Thursday, February 20th. Ten analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.87.

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.