IHT Wealth Management LLC Has $974,000 Stock Holdings in Devon Energy Co. (NYSE:DVN)

IHT Wealth Management LLC trimmed its holdings in Devon Energy Co. (NYSE:DVN) by 9.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,753 shares of the energy company’s stock after selling 3,034 shares during the quarter. IHT Wealth Management LLC’s holdings in Devon Energy were worth $974,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Hurley Capital LLC acquired a new stake in Devon Energy in the 4th quarter valued at about $26,000. Cromwell Holdings LLC grew its stake in shares of Devon Energy by 98.0% during the fourth quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company’s stock valued at $40,000 after purchasing an additional 598 shares during the last quarter. Sierra Ocean LLC acquired a new stake in shares of Devon Energy in the fourth quarter valued at approximately $43,000. Endeavor Private Wealth Inc. bought a new position in Devon Energy in the 4th quarter worth approximately $52,000. Finally, Thompson Investment Management Inc. lifted its holdings in Devon Energy by 60.0% during the 4th quarter. Thompson Investment Management Inc. now owns 1,600 shares of the energy company’s stock worth $52,000 after buying an additional 600 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on DVN. Mizuho cut their price target on Devon Energy from $49.00 to $46.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. Piper Sandler reduced their target price on shares of Devon Energy from $55.00 to $54.00 and set an “overweight” rating on the stock in a research note on Tuesday. Royal Bank of Canada dropped their price target on shares of Devon Energy from $49.00 to $40.00 and set a “sector perform” rating for the company in a research note on Monday, April 14th. Scotiabank reduced their price objective on shares of 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. Finally, Truist Financial lifted their target price on shares of Devon Energy from $42.00 to $44.00 and gave the stock a “hold” rating in a report on Thursday, February 20th. Ten research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.83.

Devon Energy Price Performance

NYSE:DVN opened at $31.08 on Thursday. The stock has a market capitalization of $20.17 billion, a PE ratio of 6.82, a P/E/G ratio of 1.20 and a beta of 1.50. Devon Energy Co. has a 1-year low of $25.89 and a 1-year high of $53.20. The firm has a fifty day simple moving average of $33.70 and a 200 day simple moving average of $35.60. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57.

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

Devon Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a dividend of $0.24 per share. This is an increase from Devon Energy’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 3.09%. The ex-dividend date was Friday, March 14th. Devon Energy’s payout ratio is currently 21.05%.

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.