Aviso Financial Inc. Has $608,000 Position in Devon Energy Co. (NYSE:DVN)

Aviso Financial Inc. cut its holdings in Devon Energy Co. (NYSE:DVN) by 3.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 18,590 shares of the energy company’s stock after selling 620 shares during the quarter. Aviso Financial Inc.’s holdings in Devon Energy were worth $608,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Geode Capital Management LLC raised its stake in shares of Devon Energy by 1.3% in the third quarter. Geode Capital Management LLC now owns 15,892,970 shares of the energy company’s stock worth $619,747,000 after acquiring an additional 206,884 shares during the last quarter. EnCap Energy Capital Fund XI L.P. bought a new position in Devon Energy in the 3rd quarter worth approximately $461,857,000. Pacer Advisors Inc. lifted its holdings in Devon Energy by 16.9% during the 3rd quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company’s stock worth $453,446,000 after buying an additional 1,677,652 shares in the last quarter. EnCap Partners GP LLC bought a new position in Devon Energy in the 3rd quarter valued at $408,653,000. Finally, Victory Capital Management Inc. raised its position in shares of Devon Energy by 2.3% during the fourth quarter. Victory Capital Management Inc. now owns 10,203,812 shares of the energy company’s stock worth $333,971,000 after acquiring an additional 232,469 shares during the last quarter. 69.72% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on DVN. Piper Sandler lifted their price objective on Devon Energy from $54.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. Wolfe Research upgraded shares of Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price target for the company in a research report on Friday, January 3rd. StockNews.com upgraded shares of Devon Energy from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Mizuho lowered their target price on shares of Devon Energy from $51.00 to $47.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Finally, 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 note on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $48.54.

Devon Energy Trading Up 2.1 %

Shares of NYSE:DVN opened at $34.50 on Friday. The firm has a market cap of $22.39 billion, a price-to-earnings ratio of 7.56, a PEG ratio of 1.20 and a beta of 1.91. Devon Energy Co. has a 12 month low of $30.39 and a 12 month high of $55.09. The company’s fifty day simple moving average is $35.38 and its 200 day simple moving average is $37.37. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.57.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate 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, research analysts forecast that Devon Energy Co. will post 4.85 EPS for the current fiscal year.

Devon Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $0.24 dividend. The ex-dividend date is Friday, March 14th. 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 2.78%. 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.