Bryn Mawr Capital Management LLC Buys New Shares in Devon Energy Co. (NYSE:DVN)

Bryn Mawr Capital Management LLC bought a new stake in shares of Devon Energy Co. (NYSE:DVN) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 8,019 shares of the energy company’s stock, valued at approximately $363,000.

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

Devon Energy Trading Up 0.2 %

Shares of NYSE DVN opened at $52.71 on Friday. Devon Energy Co. has a 1 year low of $40.47 and a 1 year high of $55.09. The stock has a market cap of $33.47 billion, a P/E ratio of 9.04 and a beta of 2.19. The firm has a 50-day moving average of $48.88 and a 200 day moving average of $46.18. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.07 and a quick ratio of 0.99.

Devon Energy (NYSE:DVN) last issued its earnings results 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 business had revenue of $4.15 billion during the quarter, compared to analysts’ expectations 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 in the previous year, the company earned $1.66 earnings per share. As a group, sell-side analysts expect that Devon Energy Co. will post 5.28 EPS for the current fiscal year.

Devon Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a $0.44 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.76 annualized dividend and a yield of 3.34%. Devon Energy’s dividend payout ratio (DPR) is presently 15.09%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on DVN. Wells Fargo & Company raised shares of Devon Energy from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $46.00 to $59.00 in a report on Monday, April 1st. UBS Group lifted their target price on shares of Devon Energy from $48.00 to $57.00 and gave the company a “neutral” rating in a research note on Wednesday, April 10th. Scotiabank lifted their target price on shares of Devon Energy from $53.00 to $67.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th. Truist Financial lifted their target price on shares of Devon Energy from $66.00 to $69.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Finally, Morgan Stanley lifted their target price on shares of Devon Energy from $49.00 to $50.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price 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.