Natixis Advisors L.P. Increases Stake in Devon Energy Co. (NYSE:DVN)

Natixis Advisors L.P. grew its position in Devon Energy Co. (NYSE:DVN) by 31.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 220,708 shares of the energy company’s stock after buying an additional 53,096 shares during the period. Natixis Advisors L.P.’s holdings in Devon Energy were worth $9,998,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Devon Energy in the 3rd quarter worth about $27,000. Sound Income Strategies LLC raised its holdings in shares of Devon Energy by 60.7% during the fourth quarter. Sound Income Strategies LLC now owns 675 shares of the energy company’s stock valued at $31,000 after purchasing an additional 255 shares during the last quarter. Rise Advisors LLC lifted its position in Devon Energy by 1,365.3% during the fourth quarter. Rise Advisors LLC now owns 718 shares of the energy company’s stock valued at $33,000 after purchasing an additional 669 shares during the period. PFS Partners LLC bought a new stake in Devon Energy in the 4th quarter worth approximately $36,000. Finally, Naples Money Management LLC purchased a new stake in Devon Energy during the 4th quarter valued at $40,000. Institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Performance

DVN stock opened at $50.56 on Thursday. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 0.46. The business’s fifty day simple moving average is $50.02 and its two-hundred day simple moving average is $46.31. Devon Energy Co. has a twelve month low of $40.47 and a twelve month high of $55.09. The firm has a market cap of $31.95 billion, a price-to-earnings ratio of 9.65 and a beta of 2.16.

Devon Energy (NYSE:DVN) last released its earnings results on Wednesday, May 1st. The energy company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.06. Devon Energy had a return on equity of 29.02% and a net margin of 22.27%. The business had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.64 billion. During the same quarter last year, the firm posted $1.46 earnings per share. The business’s revenue was down 5.9% compared to the same quarter last year. Analysts predict that Devon Energy Co. will post 5.24 earnings per share for the current year.

Devon Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a dividend of $0.22 per share. The ex-dividend date is Friday, June 14th. This represents a $0.88 annualized dividend and a dividend yield of 1.74%. Devon Energy’s dividend payout ratio is currently 16.79%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Susquehanna boosted their price target on Devon Energy from $52.00 to $65.00 and gave the company a “positive” rating in a research note on Monday, April 22nd. Mizuho increased their price target on shares of Devon Energy from $53.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Piper Sandler lifted their price target on shares of Devon Energy from $59.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. UBS Group upped their price objective on Devon Energy from $48.00 to $57.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 10th. Finally, Morgan Stanley lifted their target price on Devon Energy from $49.00 to $50.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $58.44.

Insider Buying and Selling at Devon Energy

In other Devon Energy news, EVP Tana K. Cashion sold 20,000 shares of Devon Energy stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $51.04, for a total value of $1,020,800.00. Following the transaction, the executive vice president now owns 104,182 shares in the company, valued at $5,317,449.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.63% of the stock is owned by insiders.

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.