Impact Partnership Wealth LLC cut its stake in shares of Devon Energy Co. (NYSE:DVN – Free Report) by 31.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,234 shares of the energy company’s stock after selling 7,803 shares during the period. Impact Partnership Wealth LLC’s holdings in Devon Energy were worth $564,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. EnCap Energy Capital Fund XI L.P. bought a new stake in Devon Energy in the 3rd quarter valued at $461,857,000. EnCap Partners GP LLC acquired a new stake in shares of Devon Energy during the third quarter worth $408,653,000. EnCap Energy Capital Fund X L.P. bought a new position in Devon Energy in the 3rd quarter valued at about $230,928,000. International Assets Investment Management LLC lifted its holdings in shares of Devon Energy by 4,125.7% during the 3rd quarter. International Assets Investment Management LLC now owns 2,280,961 shares of the energy company’s stock worth $89,231,000 after acquiring an additional 2,226,983 shares during the period. Finally, Pacer Advisors Inc. boosted its position in shares of 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 acquiring an additional 1,677,652 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.
Devon Energy Stock Performance
Devon Energy stock opened at $36.43 on Friday. Devon Energy Co. has a fifty-two week low of $30.39 and a fifty-two week high of $55.09. The stock has a market cap of $23.93 billion, a price-to-earnings ratio of 6.76, a PEG ratio of 1.21 and a beta of 2.00. The stock’s 50 day simple moving average is $35.31 and its two-hundred day simple moving average is $40.02. 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 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 issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.42%. The ex-dividend date was Friday, December 13th. Devon Energy’s dividend payout ratio (DPR) is 16.33%.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on DVN. Barclays lowered their price target on Devon Energy from $55.00 to $46.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. StockNews.com upgraded Devon Energy from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. 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 research note on Monday, December 16th. Jefferies Financial Group began coverage on shares of Devon Energy in a research note on Thursday, October 3rd. They set a “hold” rating and a $45.00 target price for the company. Finally, TD Cowen decreased their price target on Devon Energy from $54.00 to $46.00 and set a “hold” rating for the company in a report on Tuesday, November 5th. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $49.41.
Read Our Latest Report on Devon Energy
Devon Energy 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.
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