Value Holdings Management CO. LLC Acquires 40,000 Shares of Devon Energy Corporation $DVN

Value Holdings Management CO. LLC grew its position in Devon Energy Corporation (NYSE:DVN) by 50.3% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 119,500 shares of the energy company’s stock after purchasing an additional 40,000 shares during the period. Devon Energy comprises about 0.7% of Value Holdings Management CO. LLC’s portfolio, making the stock its 28th largest holding. Value Holdings Management CO. LLC’s holdings in Devon Energy were worth $3,801,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Devon Energy by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 82,780,738 shares of the energy company’s stock worth $3,096,000,000 after buying an additional 2,098,568 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Devon Energy by 1.2% in the second quarter. Geode Capital Management LLC now owns 18,595,683 shares of the energy company’s stock valued at $589,399,000 after buying an additional 218,034 shares during the period. Northern Trust Corp lifted its position in shares of Devon Energy by 5.1% during the 1st quarter. Northern Trust Corp now owns 6,577,195 shares of the energy company’s stock valued at $245,987,000 after buying an additional 316,460 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Devon Energy by 81.1% during the 1st quarter. Ameriprise Financial Inc. now owns 5,029,987 shares of the energy company’s stock worth $188,131,000 after acquiring an additional 2,252,918 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Devon Energy by 8.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,706,837 shares of the energy company’s stock worth $176,036,000 after acquiring an additional 354,633 shares during the period. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Wall Street Analyst Weigh In

DVN has been the subject of a number of research reports. Piper Sandler cut their target price on shares of Devon Energy from $58.00 to $57.00 and set an “overweight” rating for the company in a research report on Thursday, August 14th. Roth Capital assumed coverage on shares of Devon Energy in a report on Monday, October 13th. They issued a “buy” rating and a $42.00 price target for the company. Siebert Williams Shank cut their price objective on Devon Energy from $52.00 to $46.00 and set a “buy” rating for the company in a report on Monday, October 13th. Wells Fargo & Company dropped their target price on shares of Devon Energy from $43.00 to $37.00 and set an “overweight” rating for the company in a research report on Friday, October 17th. Finally, UBS Group increased their price target on shares of Devon Energy from $37.00 to $40.00 and gave the stock a “neutral” rating in a report on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $43.86.

Devon Energy Trading Up 2.2%

NYSE DVN opened at $35.80 on Friday. The stock has a 50-day moving average of $33.92 and a 200-day moving average of $33.37. The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. Devon Energy Corporation has a 1-year low of $25.89 and a 1-year high of $39.74. The firm has a market cap of $22.45 billion, a PE ratio of 8.03, a price-to-earnings-growth ratio of 2.49 and a beta of 1.01.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Wednesday, November 5th. The energy company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.11. Devon Energy had a return on equity of 18.59% and a net margin of 16.57%.The firm had revenue of $0.00 million during the quarter, compared to analyst estimates of $4.10 billion. During the same quarter in the prior year, the firm posted $1.10 earnings per share. As a group, sell-side analysts forecast that Devon Energy Corporation will post 4.85 EPS for the current year.

Devon Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be issued a $0.24 dividend. The ex-dividend date is Monday, December 15th. This represents a $0.96 annualized dividend and a yield of 2.7%. Devon Energy’s dividend payout ratio (DPR) is 22.59%.

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.