Aptus Capital Advisors LLC Purchases 2,056 Shares of Devon Energy Co. (NYSE:DVN)

Aptus Capital Advisors LLC grew its position in shares of Devon Energy Co. (NYSE:DVN) by 12.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 19,188 shares of the energy company’s stock after purchasing an additional 2,056 shares during the period. Aptus Capital Advisors LLC’s holdings in Devon Energy were worth $628,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in DVN. Klein Pavlis & Peasley Financial Inc. acquired a new position in Devon Energy in the 4th quarter valued at approximately $782,000. Resona Asset Management Co. Ltd. acquired a new stake in Devon Energy in the fourth quarter valued at $5,967,000. New York State Teachers Retirement System raised its position in Devon Energy by 4.5% during the 4th quarter. New York State Teachers Retirement System now owns 736,351 shares of the energy company’s stock worth $24,101,000 after purchasing an additional 31,520 shares during the last quarter. First Dallas Securities Inc. lifted its holdings in Devon Energy by 31.9% during the 4th quarter. First Dallas Securities Inc. now owns 52,715 shares of the energy company’s stock worth $1,725,000 after buying an additional 12,760 shares during the period. Finally, Aviva PLC grew its position in shares of Devon Energy by 767.3% in the 4th quarter. Aviva PLC now owns 376,999 shares of the energy company’s stock valued at $12,339,000 after buying an additional 333,530 shares during the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Stock Performance

Shares of Devon Energy stock opened at $30.70 on Wednesday. The company has a market cap of $19.75 billion, a PE ratio of 6.73, a price-to-earnings-growth ratio of 1.20 and a beta of 1.00. 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 Co. has a 52 week low of $25.89 and a 52 week high of $51.28. The business has a 50 day moving average price of $32.75 and a 200-day moving average price of $34.89.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, May 6th. The energy company reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.06). Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The company had revenue of $4.45 billion for the quarter, compared to the consensus estimate of $4.31 billion. During the same quarter last year, the business posted $1.16 earnings per share. Devon Energy’s revenue was up 23.8% on a year-over-year basis. Equities analysts anticipate that Devon Energy Co. will post 4.85 earnings per share for the current fiscal year.

Devon Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 3.13%. This is an increase from Devon Energy’s previous quarterly dividend of $0.22. The ex-dividend date was Friday, March 14th. Devon Energy’s dividend payout ratio is presently 21.05%.

Analyst Upgrades and Downgrades

DVN has been the topic of a number of recent analyst reports. Scotiabank cut their price objective on Devon Energy from $45.00 to $35.00 and set a “sector outperform” rating on the stock in a research note on Friday, April 11th. Piper Sandler dropped their price target on shares of Devon Energy from $55.00 to $54.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. Royal Bank of Canada decreased their price objective on shares of Devon Energy from $49.00 to $40.00 and set a “sector perform” rating for the company in a research report on Monday, April 14th. Cowen lowered shares of Devon Energy to a “hold” rating and dropped their target price for the company from $46.00 to $45.00 in a report on Tuesday, February 18th. Finally, Barclays lowered their price objective on Devon Energy from $44.00 to $38.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 23rd. Ten investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Devon Energy has a consensus rating of “Moderate Buy” and a consensus target price of $43.87.

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.