Murphy Pohlad Asset Management LLC Has $3.11 Million Stock Position in Devon Energy Co. (NYSE:DVN)

Murphy Pohlad Asset Management LLC increased its position in Devon Energy Co. (NYSE:DVN) by 0.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 94,972 shares of the energy company’s stock after purchasing an additional 450 shares during the quarter. Murphy Pohlad Asset Management LLC’s holdings in Devon Energy were worth $3,108,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Geode Capital Management LLC raised its position in Devon Energy by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 15,892,970 shares of the energy company’s stock worth $619,747,000 after purchasing an additional 206,884 shares during the last quarter. EnCap Energy Capital Fund XI L.P. acquired a new position in shares of Devon Energy during the third quarter worth about $461,857,000. Pacer Advisors Inc. grew its position in Devon Energy by 16.9% in the third quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company’s stock valued at $453,446,000 after purchasing an additional 1,677,652 shares in the last quarter. EnCap Partners GP LLC acquired a new stake in shares of Devon Energy in the third quarter valued at about $408,653,000. Finally, Victory Capital Management Inc. raised its position in Devon Energy by 3.8% during the third quarter. Victory Capital Management Inc. now owns 9,971,343 shares of the energy company’s stock worth $390,079,000 after acquiring an additional 361,968 shares in the last quarter. Institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Performance

Shares of DVN stock opened at $35.05 on Thursday. The firm’s 50-day simple moving average is $35.07 and its two-hundred day simple moving average is $39.67. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11. Devon Energy Co. has a 52 week low of $30.39 and a 52 week high of $55.09. The firm has a market cap of $23.02 billion, a price-to-earnings ratio of 6.50, a P/E/G ratio of 1.21 and a beta of 2.00.

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

Devon Energy Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on DVN shares. Royal Bank of Canada restated a “sector perform” rating and set a $50.00 price objective on shares of Devon Energy in a research report on Friday, January 10th. Truist Financial lowered their target price on Devon Energy from $43.00 to $42.00 and set a “hold” rating for the company in a report on Monday, January 13th. Wolfe Research raised Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price objective on the stock in a research note on Friday, January 3rd. Jefferies Financial Group initiated coverage on Devon Energy in a report on Thursday, October 3rd. They issued a “hold” rating and a $45.00 target price for the company. Finally, Susquehanna cut their price target on Devon Energy from $63.00 to $62.00 and set a “positive” rating on the stock in a report on Friday, October 18th. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Devon Energy has a consensus rating of “Moderate Buy” and a consensus price target of $49.45.

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.