Venturi Wealth Management LLC Acquires 1,084 Shares of Devon Energy Co. (NYSE:DVN)

Venturi Wealth Management LLC lifted its holdings in Devon Energy Co. (NYSE:DVN) by 34.8% during the fourth quarter, HoldingsChannel reports. The firm owned 4,198 shares of the energy company’s stock after purchasing an additional 1,084 shares during the period. Venturi Wealth Management LLC’s holdings in Devon Energy were worth $137,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in DVN. Capital Performance Advisors LLP bought a new position in shares of Devon Energy in the third quarter worth about $35,000. Sierra Ocean LLC bought a new position in Devon Energy during the fourth quarter valued at about $43,000. True Wealth Design LLC increased its stake in Devon Energy by 3,889.3% during the third quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock valued at $44,000 after acquiring an additional 1,089 shares during the period. Hazlett Burt & Watson Inc. increased its stake in Devon Energy by 29.8% during the third quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock valued at $49,000 after acquiring an additional 290 shares during the period. Finally, Activest Wealth Management increased its stake in Devon Energy by 60.4% during the third quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock valued at $50,000 after acquiring an additional 480 shares during the period. 69.72% of the stock is currently owned by institutional investors.

Devon Energy Stock Down 2.8 %

NYSE:DVN opened at $37.49 on Friday. The stock’s fifty day moving average price is $34.47 and its two-hundred day moving average price is $38.35. Devon Energy Co. has a 52-week low of $30.39 and a 52-week high of $55.09. 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 company has a market cap of $24.33 billion, a price-to-earnings ratio of 8.22, a P/E/G ratio of 1.20 and a beta of 1.98.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.16. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. The firm had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.25 billion. On average, analysts anticipate that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $0.24 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.56%. This is an increase from Devon Energy’s previous quarterly dividend of $0.22. Devon Energy’s dividend payout ratio is 19.30%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on DVN. StockNews.com upgraded Devon Energy from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Barclays upped their price objective on Devon Energy from $43.00 to $44.00 and gave the company an “equal weight” rating in a research note on Thursday. Mizuho lowered their price objective on Devon Energy from $51.00 to $47.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Susquehanna upped their price objective on Devon Energy from $50.00 to $52.00 and gave the company a “positive” rating in a research note on Thursday. Finally, Truist Financial upped their price objective on Devon Energy from $42.00 to $44.00 and gave the company a “hold” rating in a research note on Thursday. Ten analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $48.83.

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.