Veracity Capital LLC Acquires 2,004 Shares of Devon Energy Co. (NYSE:DVN)

Veracity Capital LLC lifted its holdings in shares of Devon Energy Co. (NYSE:DVN) by 23.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,654 shares of the energy company’s stock after purchasing an additional 2,004 shares during the quarter. Veracity Capital LLC’s holdings in Devon Energy were worth $349,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Endeavor Private Wealth Inc. bought a new position in Devon Energy in the fourth quarter valued at approximately $52,000. Dakota Wealth Management raised its holdings in shares of Devon Energy by 260.8% during the fourth quarter. Dakota Wealth Management now owns 19,230 shares of the energy company’s stock worth $629,000 after acquiring an additional 13,900 shares during the period. MCF Advisors LLC lifted its position in Devon Energy by 60.6% in the 4th quarter. MCF Advisors LLC now owns 6,109 shares of the energy company’s stock valued at $200,000 after acquiring an additional 2,306 shares in the last quarter. Segment Wealth Management LLC boosted 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 worth $293,000 after purchasing an additional 385 shares during the period. Finally, Perpetual Ltd increased its holdings in Devon Energy by 165.2% during the 4th quarter. Perpetual Ltd now owns 16,268 shares of the energy company’s stock worth $532,000 after purchasing an additional 10,133 shares in the last quarter. Institutional investors own 69.72% of the company’s stock.

Wall Street Analyst Weigh In

DVN has been the subject of several recent research reports. Jefferies Financial Group began coverage on Devon Energy in a research report on Thursday, October 3rd. They set a “hold” rating and a $45.00 price objective for the company. Barclays reduced their price target on Devon Energy from $55.00 to $46.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. Wolfe Research upgraded shares of Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price objective on the stock in a report on Friday, January 3rd. Susquehanna reduced their target price on shares of Devon Energy from $63.00 to $62.00 and set a “positive” rating for the company in a report on Friday, October 18th. Finally, Truist Financial lowered 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. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $49.41.

Devon Energy Price Performance

Shares of DVN opened at $36.43 on Friday. The firm has a market capitalization of $23.93 billion, a PE ratio of 6.76, a PEG ratio of 1.22 and a beta of 2.00. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01. The company’s 50-day moving average is $35.31 and its 200-day moving average is $40.02. Devon Energy Co. has a fifty-two week low of $30.39 and a fifty-two week high of $55.09.

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

Devon Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend was Friday, December 13th. Devon Energy’s dividend payout ratio is 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.