Value Holdings Management CO. LLC Boosts Stock Position in Devon Energy Corporation $DVN

Value Holdings Management CO. LLC grew its position in Devon Energy Corporation (NYSE:DVN) by 9.8% during the fourth quarter, Holdings Channel reports. The firm owned 145,500 shares of the energy company’s stock after acquiring an additional 13,000 shares during the period. Devon Energy makes up approximately 0.9% of Value Holdings Management CO. LLC’s portfolio, making the stock its 23rd largest position. Value Holdings Management CO. LLC’s holdings in Devon Energy were worth $5,330,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. PFS Partners LLC purchased a new stake in Devon Energy in the third quarter valued at approximately $25,000. First Horizon Corp acquired a new position in Devon Energy in the 3rd quarter worth approximately $26,000. Caldwell Trust Co purchased a new position in Devon Energy during the 2nd quarter worth approximately $25,000. Ameriflex Group Inc. raised its position in Devon Energy by 702.0% during the 3rd quarter. Ameriflex Group Inc. now owns 802 shares of the energy company’s stock worth $28,000 after buying an additional 702 shares during the last quarter. Finally, Accredited Wealth Management LLC lifted its stake in Devon Energy by 61.6% during the 3rd quarter. Accredited Wealth Management LLC now owns 808 shares of the energy company’s stock valued at $28,000 after acquiring an additional 308 shares during the period. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Devon Energy Stock Up 1.9%

Devon Energy stock opened at $51.36 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.98 and a quick ratio of 0.90. The stock has a market capitalization of $31.84 billion, a PE ratio of 12.32, a price-to-earnings-growth ratio of 1.24 and a beta of 0.56. The business has a 50 day simple moving average of $43.58 and a 200-day simple moving average of $38.06. Devon Energy Corporation has a 12 month low of $25.89 and a 12 month high of $51.85.

Devon Energy (NYSE:DVN) last announced its earnings results on Tuesday, February 17th. The energy company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.01. Devon Energy had a return on equity of 16.28% and a net margin of 15.37%.The firm had revenue of $4.12 billion for the quarter, compared to analyst estimates of $3.67 billion. During the same quarter last year, the firm posted $1.10 EPS. The business’s revenue was down 6.4% on a year-over-year basis. On average, analysts anticipate that Devon Energy Corporation will post 4.85 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be given a $0.24 dividend. The ex-dividend date is Friday, March 13th. This represents a $0.96 annualized dividend and a dividend yield of 1.9%. Devon Energy’s dividend payout ratio (DPR) is 23.02%.

Analyst Ratings Changes

DVN has been the topic of several recent research reports. Wells Fargo & Company upped their price objective on shares of Devon Energy from $43.00 to $51.00 and gave the company an “overweight” rating in a report on Friday, February 20th. Citigroup boosted their target price on shares of Devon Energy from $43.00 to $44.00 and gave the company a “buy” rating in a research report on Wednesday, December 17th. Argus upped their price target on shares of Devon Energy from $41.00 to $51.00 and gave the company a “buy” rating in a report on Thursday, February 26th. UBS Group increased their price target on Devon Energy from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Finally, Mizuho lifted their price objective on Devon Energy from $51.00 to $62.00 and gave the company an “outperform” rating in a research note on Tuesday, March 17th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $49.86.

Devon Energy Company Profile

Devon Energy Corporation (NYSE: DVN) is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.

Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.