Eudaimonia Advisors LLC Reduces Holdings in Devon Energy Co. (NYSE:DVN)

Eudaimonia Advisors LLC trimmed its position in shares of Devon Energy Co. (NYSE:DVN) by 17.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,991 shares of the energy company’s stock after selling 1,507 shares during the quarter. Eudaimonia Advisors LLC’s holdings in Devon Energy were worth $317,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Morgan Stanley raised its holdings in shares of Devon Energy by 23.6% in the third quarter. Morgan Stanley now owns 11,647,104 shares of the energy company’s stock valued at $555,567,000 after acquiring an additional 2,220,194 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Devon Energy by 5.1% in the third quarter. Victory Capital Management Inc. now owns 8,470,996 shares of the energy company’s stock valued at $404,067,000 after acquiring an additional 411,777 shares in the last quarter. Raymond James & Associates raised its holdings in Devon Energy by 5.0% in the third quarter. Raymond James & Associates now owns 8,429,670 shares of the energy company’s stock worth $402,095,000 after purchasing an additional 402,055 shares in the last quarter. Northern Trust Corp raised its holdings in Devon Energy by 1.2% in the third quarter. Northern Trust Corp now owns 6,774,537 shares of the energy company’s stock worth $323,145,000 after purchasing an additional 82,607 shares in the last quarter. Finally, Pacer Advisors Inc. raised its holdings in Devon Energy by 1,279.7% in the fourth quarter. Pacer Advisors Inc. now owns 6,145,605 shares of the energy company’s stock worth $278,396,000 after purchasing an additional 5,700,167 shares in the last quarter. 69.72% of the stock is owned by hedge funds and other institutional investors.

Devon Energy Trading Down 1.3 %

Shares of NYSE DVN traded down $0.69 during trading on Wednesday, hitting $51.88. 3,366,334 shares of the company were exchanged, compared to its average volume of 7,871,108. Devon Energy Co. has a 12-month low of $40.47 and a 12-month high of $55.09. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.99 and a current ratio of 1.07. The company has a fifty day moving average price of $48.30 and a 200-day moving average price of $46.05. The firm has a market capitalization of $32.94 billion, a PE ratio of 8.92 and a beta of 2.19.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, February 27th. The energy company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.39 by $0.02. Devon Energy had a return on equity of 31.72% and a net margin of 24.56%. The business had revenue of $4.15 billion for the quarter, compared to analyst estimates of $3.88 billion. During the same quarter in the previous year, the firm earned $1.66 EPS. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. As a group, equities research analysts expect that Devon Energy Co. will post 5.2 EPS for the current year.

Devon Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a dividend of $0.44 per share. The ex-dividend date was Thursday, March 14th. This represents a $1.76 annualized dividend and a dividend yield of 3.39%. Devon Energy’s dividend payout ratio is presently 15.09%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Piper Sandler boosted their target price on shares of Devon Energy from $59.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Royal Bank of Canada restated a “sector perform” rating and set a $55.00 price target on shares of Devon Energy in a research note on Thursday, March 7th. Wells Fargo & Company upgraded Devon Energy from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $46.00 to $59.00 in a research note on Monday, April 1st. JPMorgan Chase & Co. upped their price objective on Devon Energy from $57.00 to $62.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Finally, UBS Group raised their price objective on shares of Devon Energy from $48.00 to $57.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 10th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $58.33.

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.