WINTON GROUP Ltd Has $27.63 Million Holdings in Devon Energy Corporation $DVN

WINTON GROUP Ltd lifted its stake in shares of Devon Energy Corporation (NYSE:DVN) by 15.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 754,273 shares of the energy company’s stock after buying an additional 102,982 shares during the quarter. Devon Energy makes up approximately 1.0% of WINTON GROUP Ltd’s investment portfolio, making the stock its 6th biggest holding. WINTON GROUP Ltd’s holdings in Devon Energy were worth $27,629,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. TD Private Client Wealth LLC raised its holdings in shares of Devon Energy by 3.4% in the 4th quarter. TD Private Client Wealth LLC now owns 7,152 shares of the energy company’s stock valued at $262,000 after purchasing an additional 236 shares in the last quarter. Catalyst Financial Partners LLC raised its holdings in shares of Devon Energy by 3.9% in the 4th quarter. Catalyst Financial Partners LLC now owns 6,712 shares of the energy company’s stock valued at $246,000 after purchasing an additional 254 shares in the last quarter. Cary Street Partners Investment Advisory LLC raised its holdings in shares of Devon Energy by 21.0% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 1,480 shares of the energy company’s stock valued at $54,000 after purchasing an additional 257 shares in the last quarter. Murphy Pohlad Asset Management LLC raised its holdings in shares of Devon Energy by 0.3% in the 4th quarter. Murphy Pohlad Asset Management LLC now owns 113,537 shares of the energy company’s stock valued at $4,159,000 after purchasing an additional 295 shares in the last quarter. Finally, Aprio Wealth Management LLC raised its holdings in shares of Devon Energy by 4.1% in the 3rd quarter. Aprio Wealth Management LLC now owns 7,521 shares of the energy company’s stock valued at $264,000 after purchasing an additional 297 shares in the last quarter. 69.72% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Devon Energy

Here are the key news stories impacting Devon Energy this week:

• Positive Sentiment: Wells Fargo initiated/ reiterated a Buy rating on Devon Energy, adding to the recent stream of analyst support that can help offset near-term weakness. Wells Fargo Releases a Buy Rating on Devon Energy (DVN)
• Positive Sentiment: Roth MKM also rated Devon Energy Buy, reinforcing the view that analysts still see upside in the stock. Devon Energy (DVN) Gets a Buy from Roth MKM
• Neutral Sentiment: Devon Energy filed a prospectus supplement to register up to 175,000 shares tied to a Coterra merger conversion; this is a routine securities filing, though investors may be watching it for any dilution or transaction-related implications. Devon Energy Registers Shares Tied to Coterra Merger Conversion
• Neutral Sentiment: Several articles noted Devon has been drawing attention because of broader energy-sector valuation trends and Marcellus asset speculation, but these pieces do not point to a specific new catalyst. Why Is Devon Energy Corporation (NYSE:DVN) Drawing Attention Amid Marcellus Asset Speculation?
• Negative Sentiment: Coverage noting Devon Energy is still down since its last earnings report suggests investors remain focused on the company’s softer post-earnings performance and subdued follow-through. Why Is Devon Energy (DVN) Down 0.9% Since Last Earnings Report?

Analyst Ratings Changes

Several research firms have recently commented on DVN. Roth Mkm restated a “buy” rating and issued a $57.00 price target on shares of Devon Energy in a report on Tuesday, April 28th. Sanford C. Bernstein boosted their price target on shares of Devon Energy from $42.00 to $59.00 and gave the company an “outperform” rating in a report on Monday, April 13th. BMO Capital Markets boosted their price target on shares of Devon Energy from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Truist Financial boosted their price target on shares of Devon Energy from $63.00 to $66.00 and gave the company a “buy” rating in a report on Monday. Finally, Susquehanna boosted their price objective on shares of Devon Energy from $52.00 to $57.00 and gave the stock a “positive” rating in a research note on Tuesday, April 21st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Devon Energy has a consensus rating of “Moderate Buy” and an average price target of $57.89.

Insider Buying and Selling

In other news, SVP Adam M. Vela sold 24,342 shares of the stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $47.21, for a total value of $1,149,185.82. Following the sale, the senior vice president owned 130,540 shares in the company, valued at $6,162,793.40. This represents a 15.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jeffrey L. Ritenour sold 70,029 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $46.66, for a total transaction of $3,267,553.14. Following the transaction, the executive vice president directly owned 428,452 shares of the company’s stock, valued at approximately $19,991,570.32. This trade represents a 14.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 4.58% of the company’s stock.

Devon Energy Stock Performance

Shares of DVN opened at $44.27 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.94 and a current ratio of 1.01. The stock has a 50-day moving average of $47.61 and a two-hundred day moving average of $42.75. The stock has a market cap of $27.51 billion, a P/E ratio of 12.33 and a beta of 0.37. Devon Energy Corporation has a one year low of $31.45 and a one year high of $52.71.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, May 5th. The energy company reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.02). Devon Energy had a return on equity of 15.22% and a net margin of 13.71%.The firm had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $4.34 billion. During the same quarter in the previous year, the business earned $0.82 earnings per share. The company’s revenue for the quarter was down 14.5% compared to the same quarter last year. As a group, research analysts predict that Devon Energy Corporation will post 4.41 EPS for the current year.

Devon Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.28 dividend on an annualized basis and a yield of 2.9%. This is a boost from Devon Energy’s previous quarterly dividend of $0.24. Devon Energy’s payout ratio is 26.74%.

Devon Energy 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.