Stonebrook Private Inc. Purchases Shares of 51,092 Devon Energy Co. (NYSE:DVN)

Stonebrook Private Inc. purchased a new stake in Devon Energy Co. (NYSE:DVN) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 51,092 shares of the energy company’s stock, valued at approximately $2,314,000.

Other large investors have also recently bought and sold shares of the company. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Devon Energy during the 3rd quarter worth $27,000. Sound Income Strategies LLC lifted its holdings in shares of Devon Energy by 60.7% during the 4th quarter. Sound Income Strategies LLC now owns 675 shares of the energy company’s stock worth $31,000 after acquiring an additional 255 shares during the last quarter. Rise Advisors LLC lifted its holdings in shares of Devon Energy by 1,365.3% during the 4th quarter. Rise Advisors LLC now owns 718 shares of the energy company’s stock worth $33,000 after acquiring an additional 669 shares during the last quarter. PFS Partners LLC bought a new stake in shares of Devon Energy during the 4th quarter worth $36,000. Finally, Naples Money Management LLC bought a new stake in shares of Devon Energy during the 4th quarter worth $40,000. 69.72% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Raymond James decreased their target price on shares of Devon Energy from $53.00 to $52.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 24th. Truist Financial lifted their target price on shares of Devon Energy from $66.00 to $69.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. Wells Fargo & Company upgraded shares of Devon Energy from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $46.00 to $59.00 in a research report on Monday, April 1st. 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, April 22nd. Finally, Piper Sandler lifted their target price on shares of Devon Energy from $59.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.33.

Devon Energy Stock Up 0.2 %

Shares of NYSE DVN traded up $0.10 during midday trading on Friday, hitting $52.71. The stock had a trading volume of 4,618,432 shares, compared to its average volume of 6,726,952. The business’s 50 day moving average is $48.88 and its 200-day moving average is $46.18. The company has a market cap of $33.47 billion, a P/E ratio of 9.04 and a beta of 2.19. Devon Energy Co. has a 52 week low of $40.47 and a 52 week high of $55.09. The company has a quick ratio of 0.99, a current ratio of 1.07 and a debt-to-equity ratio of 0.46.

Devon Energy (NYSE:DVN) last issued its earnings results on Tuesday, February 27th. The energy company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.02. Devon Energy had a net margin of 24.56% and a return on equity of 31.72%. The firm had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $3.88 billion. During the same quarter in the prior year, the firm posted $1.66 earnings per share. The business’s revenue was down 3.6% on a year-over-year basis. As a group, analysts predict that Devon Energy Co. will post 5.28 EPS for the current year.

Devon Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a dividend of $0.44 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.76 dividend on an annualized basis and a yield of 3.34%. Devon Energy’s dividend payout ratio is currently 15.09%.

Devon Energy 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.