Value Holdings Management CO. LLC Acquires 13,000 Shares of Devon Energy Corporation $DVN

Value Holdings Management CO. LLC increased its holdings in shares of Devon Energy Corporation (NYSE:DVN) by 9.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 145,500 shares of the energy company’s stock after acquiring an additional 13,000 shares during the period. Devon Energy comprises 0.9% of Value Holdings Management CO. LLC’s portfolio, making the stock its 23rd biggest position. Value Holdings Management CO. LLC’s holdings in Devon Energy were worth $5,330,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of DVN. Caldwell Trust Co purchased a new stake in shares of Devon Energy in the second quarter valued at approximately $25,000. PFS Partners LLC purchased a new position in Devon Energy during the 3rd quarter worth $25,000. First Horizon Corp bought a new stake in Devon Energy during the 3rd quarter valued at $26,000. Accredited Wealth Management LLC lifted its holdings in shares of Devon Energy by 61.6% in the 3rd quarter. Accredited Wealth Management LLC now owns 808 shares of the energy company’s stock worth $28,000 after buying an additional 308 shares during the period. Finally, Ameriflex Group Inc. grew its position in shares of 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 in the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on DVN shares. Roth Mkm reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Devon Energy in a research note on Thursday, February 19th. TD Cowen upped their price target on shares of Devon Energy from $46.00 to $50.00 and gave the stock a “hold” rating in a research report on Tuesday, March 17th. Raymond James Financial increased their price objective on shares of Devon Energy from $44.00 to $52.00 and gave the company an “outperform” rating in a research note on Wednesday, February 11th. Zacks Research raised shares of Devon Energy from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Finally, Johnson Rice lowered their target price on Devon Energy from $70.00 to $62.00 and set a “buy” rating for the company in a report on Friday, December 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $49.86.

Devon Energy Trading Up 1.9%

NYSE DVN opened at $51.36 on Friday. Devon Energy Corporation has a 52 week low of $25.89 and a 52 week high of $51.85. The company has a 50 day moving average price of $43.58 and a 200 day moving average price of $38.06. The company has a quick ratio of 0.90, a current ratio of 0.98 and a debt-to-equity ratio of 0.48. The firm has a market cap 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.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, February 17th. The energy company reported $0.82 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $3.67 billion. During the same quarter in the prior year, the business posted $1.10 EPS. The business’s revenue for the quarter was down 6.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Devon Energy Corporation will post 4.85 EPS for the current fiscal year.

Devon Energy Announces Dividend

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

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.