Park Place Capital Corp Has $277,000 Stake in Devon Energy Co. (NYSE:DVN)

Park Place Capital Corp cut its holdings in shares of Devon Energy Co. (NYSE:DVN) by 3.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,449 shares of the energy company’s stock after selling 335 shares during the quarter. Park Place Capital Corp’s holdings in Devon Energy were worth $277,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Dakota Wealth Management increased its holdings in shares of Devon Energy by 260.8% in the fourth quarter. Dakota Wealth Management now owns 19,230 shares of the energy company’s stock valued at $629,000 after purchasing an additional 13,900 shares during the last quarter. MCF Advisors LLC boosted its holdings in shares of Devon Energy by 60.6% during the 4th quarter. MCF Advisors LLC now owns 6,109 shares of the energy company’s stock worth $200,000 after buying an additional 2,306 shares during the period. Segment Wealth Management LLC grew its stake in Devon Energy by 4.5% in the 4th quarter. Segment Wealth Management LLC now owns 8,952 shares of the energy company’s stock valued at $293,000 after buying an additional 385 shares during the last quarter. Perpetual Ltd raised its holdings in Devon Energy by 165.2% in the 4th quarter. Perpetual Ltd now owns 16,268 shares of the energy company’s stock valued at $532,000 after acquiring an additional 10,133 shares during the period. Finally, Lmcg Investments LLC lifted its position in Devon Energy by 1.6% during the fourth quarter. Lmcg Investments LLC now owns 56,858 shares of the energy company’s stock worth $1,861,000 after acquiring an additional 896 shares during the last quarter. Institutional investors own 69.72% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on DVN shares. Scotiabank decreased their target price on Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $50.00 price objective on shares of Devon Energy in a report on Friday, January 10th. Sanford C. Bernstein raised Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 target price for the company in a report on Wednesday, January 15th. Truist Financial decreased their price target on shares of Devon Energy from $43.00 to $42.00 and set a “hold” rating on the stock in a research note on Monday, January 13th. Finally, Raymond James dropped their price objective on shares of Devon Energy from $58.00 to $51.00 in a research note on Tuesday, November 5th. Nine analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Devon Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.27.

Devon Energy Price Performance

Shares of DVN stock opened at $36.46 on Thursday. Devon Energy Co. has a twelve month low of $30.39 and a twelve month high of $55.09. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61. The business has a fifty day simple moving average of $35.37 and a 200 day simple moving average of $40.05. The company has a market cap of $23.95 billion, a P/E ratio of 6.76, a P/E/G ratio of 1.26 and a beta of 2.00.

Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.01. The firm had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.72 billion. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.65 earnings per share. On average, sell-side analysts forecast that Devon Energy Co. will post 4.68 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were given a $0.22 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.41%. Devon Energy’s dividend payout ratio is currently 16.33%.

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.