Culbertson A N & Co. Inc. Acquires 8,698 Shares of Devon Energy Co. (NYSE:DVN)

Culbertson A N & Co. Inc. grew its holdings in Devon Energy Co. (NYSE:DVN) by 36.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,611 shares of the energy company’s stock after purchasing an additional 8,698 shares during the period. Culbertson A N & Co. Inc.’s holdings in Devon Energy were worth $1,067,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new stake in Devon Energy during the 3rd quarter valued at $35,000. Future Financial Wealth Managment LLC purchased a new position in shares of Devon Energy in the third quarter valued at $39,000. True Wealth Design LLC raised its stake in shares of Devon Energy by 3,889.3% during the 3rd quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock valued at $44,000 after purchasing an additional 1,089 shares during the period. Hazlett Burt & Watson Inc. lifted its holdings in Devon Energy by 29.8% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock worth $49,000 after purchasing an additional 290 shares in the last quarter. Finally, Activest Wealth Management boosted its stake in Devon Energy by 60.4% in the 3rd quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock worth $50,000 after purchasing an additional 480 shares during the period. 69.72% of the stock is owned by institutional investors.

Devon Energy Trading Down 1.2 %

Shares of DVN stock opened at $37.98 on Tuesday. The business has a 50-day moving average of $35.46 and a 200 day moving average of $40.14. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01. Devon Energy Co. has a 1-year low of $30.39 and a 1-year high of $55.09. The stock has a market capitalization of $24.95 billion, a PE ratio of 7.05, a P/E/G ratio of 1.14 and a beta of 2.00.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.01. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The firm had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same quarter in the prior year, the firm posted $1.65 earnings per share. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Devon Energy Co. will post 4.72 earnings per share for the current year.

Devon Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.32%. The ex-dividend date was Friday, December 13th. Devon Energy’s dividend payout ratio (DPR) is 16.33%.

Wall Street Analysts Forecast Growth

DVN has been the topic of several analyst reports. Susquehanna decreased their price target on Devon Energy from $63.00 to $62.00 and set a “positive” rating on the stock in a research report on Friday, October 18th. Scotiabank lowered their target price on shares of Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Sanford C. Bernstein upgraded shares of Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price target for the company in a research report on Wednesday, January 15th. Piper Sandler lowered their price objective on Devon Energy from $57.00 to $53.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Finally, Mizuho decreased their target price on Devon Energy from $51.00 to $47.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Nine investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $49.27.

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.