Devon Energy Co. (NYSE:DVN) Shares Bought by Avior Wealth Management LLC

Avior Wealth Management LLC raised its position in Devon Energy Co. (NYSE:DVN) by 50.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,629 shares of the energy company’s stock after acquiring an additional 2,223 shares during the period. Avior Wealth Management LLC’s holdings in Devon Energy were worth $300,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Canada Pension Plan Investment Board acquired a new stake in shares of Devon Energy during the first quarter worth $26,000. Fortis Capital Advisors LLC acquired a new stake in shares of Devon Energy during the fourth quarter worth $31,000. KB Financial Partners LLC acquired a new stake in shares of Devon Energy during the first quarter worth $26,000. Coppell Advisory Solutions LLC acquired a new stake in shares of Devon Energy during the second quarter worth $25,000. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Devon Energy during the third quarter worth $27,000. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Raymond James lowered their price objective on shares of Devon Energy from $53.00 to $52.00 and set an “outperform” rating for the company in a research note on Wednesday, January 24th. UBS Group lifted their price objective on shares of Devon Energy from $48.00 to $57.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 10th. Truist Financial lowered their price objective on shares of Devon Energy from $69.00 to $66.00 and set a “buy” rating for the company in a research note on Friday, April 5th. Stifel Nicolaus decreased their target price on shares of Devon Energy from $75.00 to $65.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Finally, Piper Sandler boosted their target price on shares of Devon Energy from $59.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Devon Energy currently has a consensus rating of “Moderate Buy” and an average price target of $57.94.

Devon Energy Stock Up 0.8 %

DVN opened at $51.85 on Friday. Devon Energy Co. has a fifty-two week low of $40.47 and a fifty-two week high of $55.09. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.99 and a current ratio of 1.07. The company has a fifty day moving average of $47.89 and a two-hundred day moving average of $45.90. The stock has a market capitalization of $32.92 billion, a price-to-earnings ratio of 8.89 and a beta of 2.19.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, February 27th. The energy company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.02. Devon Energy had a net margin of 24.56% and a return on equity of 31.72%. The company had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $3.88 billion. During the same quarter in the previous year, the company earned $1.66 earnings per share. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, research analysts expect that Devon Energy Co. will post 5.14 earnings per share for the current year.

Devon Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.39%. Devon Energy’s dividend payout ratio is currently 15.09%.

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.