Syon Capital LLC Buys 791 Shares of Devon Energy Co. (NYSE:DVN)

Syon Capital LLC raised its position in shares of Devon Energy Co. (NYSE:DVN) by 5.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,957 shares of the energy company’s stock after purchasing an additional 791 shares during the period. Syon Capital LLC’s holdings in Devon Energy were worth $678,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in DVN. Morgan Stanley increased its holdings in shares of Devon Energy by 23.6% during the third quarter. Morgan Stanley now owns 11,647,104 shares of the energy company’s stock worth $555,567,000 after buying an additional 2,220,194 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Devon Energy by 5.1% in the third quarter. Victory Capital Management Inc. now owns 8,470,996 shares of the energy company’s stock valued at $404,067,000 after purchasing an additional 411,777 shares during the period. Raymond James & Associates increased its holdings in Devon Energy by 5.0% in the third quarter. Raymond James & Associates now owns 8,429,670 shares of the energy company’s stock valued at $402,095,000 after purchasing an additional 402,055 shares during the period. Northern Trust Corp increased its holdings in Devon Energy by 1.2% in the third quarter. Northern Trust Corp now owns 6,774,537 shares of the energy company’s stock valued at $323,145,000 after purchasing an additional 82,607 shares during the period. Finally, Pacer Advisors Inc. increased its holdings in 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 period. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DVN has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. increased their price target on Devon Energy from $57.00 to $62.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Susquehanna lifted their target price on shares of Devon Energy from $52.00 to $65.00 and gave the stock a “positive” rating in a research report on Monday. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $55.00 price target on shares of Devon Energy in a report on Thursday, March 7th. Raymond James lowered their price target on shares of Devon Energy from $53.00 to $52.00 and set an “outperform” rating on the stock in a report on Wednesday, January 24th. Finally, UBS Group lifted their price objective on shares of Devon Energy from $48.00 to $57.00 and gave the company a “neutral” rating in a research note on Wednesday, April 10th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Devon Energy presently has a consensus rating of “Moderate Buy” and an average target price of $58.33.

Devon Energy Price Performance

NYSE:DVN traded up $0.10 during midday trading on Friday, hitting $52.71. The company had a trading volume of 4,614,757 shares, compared to its average volume of 7,856,843. 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 company has a market capitalization of $33.47 billion, a PE ratio of 8.97 and a beta of 2.19. The stock’s fifty day moving average price is $48.70 and its 200-day moving average price is $46.13. Devon Energy Co. has a 52-week low of $40.47 and a 52-week high of $55.09.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, February 27th. The energy company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.02. The business had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $3.88 billion. Devon Energy had a net margin of 24.56% and a return on equity of 31.72%. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.66 earnings per share. As a group, research analysts expect that Devon Energy Co. will post 5.25 earnings per share for the current year.

Devon Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 3.34%. The ex-dividend date was Thursday, March 14th. Devon Energy’s dividend payout ratio (DPR) is 15.09%.

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.