Devon Energy Corporation $DVN Shares Purchased by Greatmark Investment Partners Inc.

Greatmark Investment Partners Inc. grew its position in Devon Energy Corporation (NYSE:DVN) by 2.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 588,575 shares of the energy company’s stock after purchasing an additional 16,650 shares during the period. Devon Energy makes up approximately 2.6% of Greatmark Investment Partners Inc.’s holdings, making the stock its 15th largest holding. Greatmark Investment Partners Inc. owned approximately 0.09% of Devon Energy worth $21,560,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. PFS Partners LLC acquired a new position in shares of Devon Energy in the 3rd quarter valued at about $25,000. First Horizon Corp acquired a new position in shares of Devon Energy in the 3rd quarter valued at about $26,000. Caldwell Trust Co acquired a new position in shares of Devon Energy in the 2nd quarter valued at about $25,000. Ameriflex Group Inc. lifted its stake in shares of Devon Energy by 702.0% in the 3rd quarter. Ameriflex Group Inc. now owns 802 shares of the energy company’s stock valued at $28,000 after purchasing an additional 702 shares in the last quarter. Finally, Accredited Wealth Management LLC lifted its stake in shares of Devon Energy by 61.6% in the 3rd quarter. Accredited Wealth Management LLC now owns 808 shares of the energy company’s stock valued at $28,000 after purchasing an additional 308 shares in the last quarter. 69.72% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Benchmark reaffirmed a “buy” rating on shares of Devon Energy in a research note on Friday, January 16th. Susquehanna lifted their price objective on Devon Energy from $47.00 to $52.00 and gave the company a “positive” rating in a research note on Friday, February 20th. Zacks Research raised Devon Energy from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Jefferies Financial Group lifted their price objective on Devon Energy from $44.00 to $53.00 and gave the company a “hold” rating in a research note on Monday, April 13th. Finally, Piper Sandler lifted their price objective on Devon Energy from $59.00 to $67.00 and gave the company an “overweight” rating in a research note on Thursday, March 12th. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $53.25.

Devon Energy Stock Performance

Shares of NYSE:DVN opened at $44.18 on Friday. The company has a market cap of $27.45 billion, a P/E ratio of 10.59, a PEG ratio of 0.83 and a beta of 0.47. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.90 and a current ratio of 0.98. Devon Energy Corporation has a one year low of $29.06 and a one year high of $52.71. The business’s 50-day simple moving average is $46.37 and its 200 day simple moving average is $39.57.

Devon Energy (NYSE:DVN) last announced its earnings results on Tuesday, February 17th. The energy company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.81 by $0.01. The business had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $3.67 billion. Devon Energy had a return on equity of 16.28% and a net margin of 15.37%.The company’s revenue was down 6.4% on a year-over-year basis. During the same period last year, the business posted $1.10 EPS. On average, sell-side analysts forecast that Devon Energy Corporation will post 4.85 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, March 13th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Friday, March 13th. Devon Energy’s dividend payout ratio (DPR) is presently 23.02%.

Devon Energy Profile

Devon Energy Corporation (NYSE: DVN) is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.

Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.