857 Shares in Devon Energy Co. (NYSE:DVN) Purchased by Accredited Wealth Management LLC

Accredited Wealth Management LLC acquired a new stake in shares of Devon Energy Co. (NYSE:DVN) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 857 shares of the energy company’s stock, valued at approximately $28,000.

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on DVN. Morgan Stanley set a $47.00 price objective on Devon Energy and gave the stock an “overweight” rating in a report on Wednesday, March 26th. Raymond James set a $40.00 price objective on shares of Devon Energy in a research report on Monday, April 21st. Truist Financial upped 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. Wells Fargo & Company cut their price target on shares of Devon Energy from $46.00 to $44.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Finally, Benchmark restated a “buy” rating and set a $44.00 price target on shares of Devon Energy in a research report on Thursday, February 20th. Ten investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $43.87.

Devon Energy Stock Performance

NYSE DVN opened at $31.46 on Friday. The company has a 50-day simple moving average of $32.94 and a two-hundred day simple moving average of $35.03. Devon Energy Co. has a 12-month low of $25.89 and a 12-month high of $51.46. The firm has a market cap of $20.24 billion, a price-to-earnings ratio of 6.90, a PEG ratio of 1.20 and a beta of 1.50. 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 (NYSE:DVN) last posted its quarterly earnings results 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 business had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.25 billion. On average, equities analysts forecast that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a dividend of $0.24 per share. This is a positive change from Devon Energy’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date was Friday, March 14th. Devon Energy’s dividend payout ratio is currently 21.05%.

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.