Cerity Partners LLC Buys 20,022 Shares of Devon Energy Co. (NYSE:DVN)

Cerity Partners LLC boosted its stake in Devon Energy Co. (NYSE:DVN) by 14.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 158,622 shares of the energy company’s stock after purchasing an additional 20,022 shares during the quarter. Cerity Partners LLC’s holdings in Devon Energy were worth $7,185,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Canada Pension Plan Investment Board bought a new stake in Devon Energy in the first quarter valued at about $26,000. Fortis Capital Advisors LLC acquired a new position in Devon Energy in the fourth quarter valued at about $31,000. KB Financial Partners LLC acquired a new position in Devon Energy in the first quarter valued at about $26,000. Coppell Advisory Solutions LLC acquired a new position in Devon Energy in the second quarter valued at about $25,000. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new position in Devon Energy in the third quarter valued at about $27,000. Institutional investors own 69.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $55.00 target price on shares of Devon Energy in a research note on Thursday, March 7th. Mizuho dropped their price objective on Devon Energy from $54.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, January 11th. Truist Financial lowered their target price on Devon Energy from $69.00 to $66.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. Stifel Nicolaus lowered their target price on Devon Energy from $75.00 to $65.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Finally, Piper Sandler lowered their target price on Devon Energy from $61.00 to $59.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 24th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $57.89.

Devon Energy Trading Down 1.4 %

Shares of DVN stock opened at $52.68 on Tuesday. The firm has a market capitalization of $33.45 billion, a P/E ratio of 9.04 and a beta of 2.19. Devon Energy Co. has a twelve month low of $40.47 and a twelve month high of $56.19. 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 stock’s fifty day simple moving average is $47.08 and its 200 day simple moving average is $45.74.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, February 27th. The energy company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.02. The business had revenue of $4.15 billion for the quarter, compared to analyst estimates of $3.88 billion. Devon Energy had a return on equity of 31.72% and a net margin of 24.56%. Devon Energy’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.66 EPS. As a group, sell-side analysts predict that Devon Energy Co. will post 5.02 EPS for the current fiscal year.

Devon Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given 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.