Alaska Permanent Fund Corp Buys 1,911 Shares of Devon Energy Co. (NYSE:DVN)

Alaska Permanent Fund Corp increased its stake in Devon Energy Co. (NYSE:DVN) by 4.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 48,711 shares of the energy company’s stock after acquiring an additional 1,911 shares during the period. Alaska Permanent Fund Corp’s holdings in Devon Energy were worth $2,207,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Lord Abbett & CO. LLC grew its holdings in Devon Energy by 15.5% during the 3rd quarter. Lord Abbett & CO. LLC now owns 549,710 shares of the energy company’s stock worth $26,221,000 after acquiring an additional 73,570 shares during the period. Nordea Investment Management AB grew its holdings in shares of Devon Energy by 2.7% in the 3rd quarter. Nordea Investment Management AB now owns 373,757 shares of the energy company’s stock valued at $17,974,000 after buying an additional 9,823 shares during the period. Atria Investments Inc boosted its stake in Devon Energy by 64.4% in the 3rd quarter. Atria Investments Inc now owns 54,639 shares of the energy company’s stock worth $2,606,000 after purchasing an additional 21,400 shares during the period. Pearl River Capital LLC boosted its stake in Devon Energy by 367.7% in the 3rd quarter. Pearl River Capital LLC now owns 75,042 shares of the energy company’s stock worth $3,580,000 after purchasing an additional 58,997 shares during the period. Finally, Argent Trust Co boosted its stake in Devon Energy by 22.1% in the 3rd quarter. Argent Trust Co now owns 86,795 shares of the energy company’s stock worth $4,140,000 after purchasing an additional 15,715 shares during the period. Institutional investors own 69.72% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $55.00 target price on shares of Devon Energy in a research note on Thursday, March 7th. JPMorgan Chase & Co. boosted their price target on shares of Devon Energy from $57.00 to $62.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Truist Financial boosted their price target on shares of Devon Energy from $66.00 to $69.00 and gave the stock a “buy” rating in a research report on Monday. Piper Sandler boosted their price target on shares of Devon Energy from $59.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Finally, Stifel Nicolaus boosted their price target on shares of Devon Energy from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.33.

Devon Energy Trading Down 0.1 %

Shares of NYSE:DVN opened at $52.55 on Friday. Devon Energy Co. has a 52-week low of $40.47 and a 52-week high of $55.09. The company has a market capitalization of $33.37 billion, a P/E ratio of 9.02 and a beta of 2.19. The company has a 50-day simple moving average of $48.70 and a 200 day simple moving average of $46.13. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.99 and a current ratio of 1.07.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, February 27th. The energy company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.02. The firm had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $3.88 billion. Devon Energy had a net margin of 24.56% and a return on equity of 31.72%. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period last year, the business posted $1.66 earnings per share. Sell-side analysts forecast that Devon Energy Co. will post 5.25 earnings per share for the current year.

Devon Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders 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 annualized dividend and a yield of 3.35%. Devon Energy’s dividend payout ratio (DPR) is presently 15.09%.

About Devon Energy

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.