Fidelis Capital Partners LLC Has $1.48 Million Holdings in Devon Energy Co. (NYSE:DVN)

Fidelis Capital Partners LLC boosted its holdings in shares of Devon Energy Co. (NYSE:DVN) by 11.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,742 shares of the energy company’s stock after buying an additional 3,277 shares during the quarter. Fidelis Capital Partners LLC’s holdings in Devon Energy were worth $1,483,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of DVN. Pacer Advisors Inc. grew its position in shares of Devon Energy by 1,279.7% in the fourth quarter. Pacer Advisors Inc. now owns 6,145,605 shares of the energy company’s stock valued at $278,396,000 after purchasing an additional 5,700,167 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its position in shares of Devon Energy by 96.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,608,577 shares of the energy company’s stock valued at $344,984,000 after purchasing an additional 2,752,752 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC acquired a new position in shares of Devon Energy in the third quarter valued at approximately $113,793,000. Morgan Stanley grew its position in shares of Devon Energy by 23.6% in the third quarter. Morgan Stanley now owns 11,647,104 shares of the energy company’s stock valued at $555,567,000 after purchasing an additional 2,220,194 shares during the last quarter. Finally, International Assets Investment Management LLC grew its position in shares of Devon Energy by 3,885.4% in the fourth quarter. International Assets Investment Management LLC now owns 1,695,206 shares of the energy company’s stock valued at $76,793,000 after purchasing an additional 1,652,671 shares during the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on DVN. Truist Financial decreased their target price on Devon Energy from $69.00 to $66.00 and set a “buy” rating on the stock in a research report on Friday, April 5th. Piper Sandler cut their price target on Devon Energy from $61.00 to $59.00 and set an “overweight” rating for the company in a research note on Wednesday, January 24th. JPMorgan Chase & Co. boosted their price target on Devon Energy from $57.00 to $62.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Stifel Nicolaus cut their price target on Devon Energy from $75.00 to $65.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Finally, Scotiabank boosted their price target on Devon Energy from $53.00 to $67.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Devon Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.89.

Devon Energy Trading Down 0.5 %

Devon Energy stock traded down $0.24 during trading hours on Thursday, reaching $51.43. 5,167,779 shares of the company’s stock were exchanged, compared to its average volume of 8,043,624. The company has a quick ratio of 0.99, a current ratio of 1.07 and a debt-to-equity ratio of 0.46. The firm’s 50 day simple moving average is $47.51 and its 200 day simple moving average is $45.82. Devon Energy Co. has a twelve month low of $40.47 and a twelve month high of $55.09. The firm has a market capitalization of $32.66 billion, a PE ratio of 8.89 and a beta of 2.19.

Devon Energy (NYSE:DVN) last issued its earnings results on Tuesday, February 27th. The energy company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.39 by $0.02. The company had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $3.88 billion. Devon Energy had a return on equity of 31.72% and a net margin of 24.56%. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period last year, the business posted $1.66 EPS. Research analysts predict that Devon Energy Co. will post 5.14 earnings per share for the current year.

Devon Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a $0.44 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.76 annualized dividend and a dividend yield of 3.42%. Devon Energy’s dividend payout ratio is presently 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.