Lewis Asset Management LLC Boosts Stock Position in Devon Energy Co. (NYSE:DVN)

Lewis Asset Management LLC boosted its position in shares of Devon Energy Co. (NYSE:DVN) by 12.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,050 shares of the energy company’s stock after acquiring an additional 1,723 shares during the quarter. Lewis Asset Management LLC’s holdings in Devon Energy were worth $493,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Algert Global LLC increased its stake in Devon Energy by 17.8% during the 2nd quarter. Algert Global LLC now owns 9,719 shares of the energy company’s stock worth $461,000 after buying an additional 1,466 shares during the period. Creative Planning grew its stake in shares of Devon Energy by 5.9% in the second quarter. Creative Planning now owns 98,957 shares of the energy company’s stock worth $4,691,000 after acquiring an additional 5,476 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Devon Energy by 13.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 41,610 shares of the energy company’s stock valued at $1,972,000 after acquiring an additional 4,933 shares in the last quarter. Quarry LP boosted its holdings in Devon Energy by 32.1% in the second quarter. Quarry LP now owns 1,832 shares of the energy company’s stock valued at $87,000 after purchasing an additional 445 shares during the period. Finally, Truist Financial Corp grew its stake in Devon Energy by 48.5% during the 2nd quarter. Truist Financial Corp now owns 539,645 shares of the energy company’s stock worth $25,579,000 after purchasing an additional 176,325 shares in the last quarter. 69.72% of the stock is owned by institutional investors and hedge funds.

Devon Energy Stock Up 0.5 %

DVN stock opened at $35.05 on Thursday. The company has a market cap of $23.02 billion, a price-to-earnings ratio of 6.50, a price-to-earnings-growth ratio of 1.21 and a beta of 2.00. The company has a fifty day moving average price of $35.07 and a 200 day moving average price of $39.67. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01. Devon Energy Co. has a 12 month low of $30.39 and a 12 month high of $55.09.

Devon Energy (NYSE:DVN) last announced its earnings results on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.01. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The business had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same period in the prior year, the company earned $1.65 earnings per share. The business’s revenue was up 4.9% compared to the same quarter last year. Sell-side analysts expect that Devon Energy Co. will post 4.7 earnings per share for the current year.

Devon Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were paid a $0.22 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.88 annualized dividend and a dividend yield of 2.51%. Devon Energy’s dividend payout ratio (DPR) is currently 16.33%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Sanford C. Bernstein raised Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price target on the stock in a research report on Wednesday, January 15th. Wells Fargo & Company reduced their target price on shares of Devon Energy from $49.00 to $43.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Susquehanna lowered their price target on shares of Devon Energy from $63.00 to $62.00 and set a “positive” rating for the company in a report on Friday, October 18th. Mizuho reduced their price objective on shares of Devon Energy from $51.00 to $47.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Finally, Jefferies Financial Group started coverage on shares of Devon Energy in a research report on Thursday, October 3rd. They set a “hold” rating and a $45.00 price objective for the company. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Devon Energy currently has an average rating of “Moderate Buy” and an average price target of $49.45.

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.