Deutsche Bank AG Has $114.32 Million Position in Devon Energy Co. (NYSE:DVN)

Deutsche Bank AG lifted its holdings in Devon Energy Co. (NYSE:DVN) by 3.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,492,902 shares of the energy company’s stock after buying an additional 102,725 shares during the period. Deutsche Bank AG owned about 0.53% of Devon Energy worth $114,323,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Hurley Capital LLC purchased a new position in Devon Energy during the 4th quarter valued at about $26,000. Accredited Wealth Management LLC acquired a new stake in shares of Devon Energy during the fourth quarter worth approximately $28,000. Cromwell Holdings LLC grew its position in 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 in the last quarter. Sierra Ocean LLC acquired a new position in Devon Energy in the 4th quarter valued at approximately $43,000. Finally, Endeavor Private Wealth Inc. purchased a new stake in Devon Energy in the 4th quarter worth approximately $52,000. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. 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 note on Tuesday, April 22nd. Williams Trading set a $50.00 target price on Devon Energy in a research report on Wednesday, March 5th. Cowen lowered Devon Energy to a “hold” rating and reduced their price target for the company from $46.00 to $45.00 in a report on Tuesday, February 18th. Truist Financial increased their price objective on Devon Energy from $42.00 to $44.00 and gave the stock a “hold” rating in a report on Thursday, February 20th. Finally, Scotiabank reduced their target price on shares of Devon Energy from $45.00 to $35.00 and set a “sector outperform” rating for the company in a research note on Friday, April 11th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $43.96.

Devon Energy Stock Up 2.1 %

NYSE DVN opened at $32.60 on Friday. Devon Energy Co. has a twelve month low of $25.89 and a twelve month high of $50.44. The stock has a market cap of $20.97 billion, a PE ratio of 7.15, a PEG ratio of 1.20 and a beta of 1.00. The firm has a 50-day simple moving average of $32.55 and a 200 day simple moving average of $34.72. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.04.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, May 6th. The energy company reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.06). The firm had revenue of $4.45 billion during the quarter, compared to the consensus estimate of $4.31 billion. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. Devon Energy’s revenue was up 23.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.16 EPS. On average, research analysts forecast that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.94%. The ex-dividend date is Friday, June 13th. Devon Energy’s dividend payout ratio (DPR) is presently 21.87%.

Devon Energy Company 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.