Czech National Bank Acquires 14,866 Shares of Devon Energy Co. (NYSE:DVN)

Czech National Bank lifted its position in shares of Devon Energy Co. (NYSE:DVN) by 11.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 142,429 shares of the energy company’s stock after purchasing an additional 14,866 shares during the period. Czech National Bank’s holdings in Devon Energy were worth $4,662,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of DVN. William B. Walkup & Associates Inc. purchased a new stake in shares of Devon Energy during the 2nd quarter valued at approximately $1,026,000. Legacy Investment Solutions LLC bought a new position in shares of Devon Energy in the third quarter valued at approximately $8,002,000. Bridgewater Associates LP purchased a new position in Devon Energy during the third quarter valued at approximately $9,426,000. Petrus Trust Company LTA boosted its holdings in Devon Energy by 394.7% in the 3rd quarter. Petrus Trust Company LTA now owns 21,827 shares of the energy company’s stock valued at $854,000 after purchasing an additional 17,415 shares during the period. Finally, CIBC Asset Management Inc grew its position in shares of Devon Energy by 6.3% during the 3rd quarter. CIBC Asset Management Inc now owns 107,182 shares of the energy company’s stock valued at $4,193,000 after purchasing an additional 6,358 shares in the last quarter. 69.72% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on DVN shares. Benchmark upgraded Devon Energy from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a research report on Tuesday. Sanford C. Bernstein raised Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price target for the company in a research note on Wednesday. Piper Sandler decreased their price objective on Devon Energy from $57.00 to $53.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Mizuho cut their target price on Devon Energy from $51.00 to $47.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Finally, Evercore ISI decreased their price target on shares of Devon Energy from $55.00 to $50.00 and set an “in-line” rating on the stock in a research note on Monday, September 30th. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $49.27.

Devon Energy Stock Performance

DVN opened at $38.45 on Thursday. Devon Energy Co. has a 12-month low of $30.39 and a 12-month high of $55.09. The company has a market cap of $25.26 billion, a price-to-earnings ratio of 7.13, a PEG ratio of 1.07 and a beta of 2.00. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The company’s 50 day moving average is $35.54 and its 200 day moving average is $40.42.

Devon Energy (NYSE:DVN) last released its earnings results on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.01. The company had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.72 billion. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The firm’s revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.65 EPS. On average, equities research analysts predict that Devon Energy Co. will post 4.79 EPS for the current year.

Devon Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.29%. The ex-dividend date was Friday, December 13th. Devon Energy’s dividend payout ratio is presently 16.33%.

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.