Aquatic Capital Management LLC Invests $6.05 Million in Devon Energy Co. (NYSE:DVN)

Aquatic Capital Management LLC bought a new stake in Devon Energy Co. (NYSE:DVN - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 184,809 shares of the energy company's stock, valued at approximately $6,049,000.

Other hedge funds have also recently modified their holdings of the company. Morse Asset Management Inc purchased a new position in shares of Devon Energy during the third quarter worth about $126,000. Virtu Financial LLC purchased a new position in Devon Energy during the 3rd quarter worth approximately $7,468,000. Pine Valley Investments Ltd Liability Co acquired a new position in Devon Energy during the third quarter worth approximately $209,000. World Investment Advisors LLC lifted its stake in Devon Energy by 3,440.3% in the third quarter. World Investment Advisors LLC now owns 149,437 shares of the energy company's stock valued at $5,846,000 after buying an additional 145,216 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Devon Energy in the third quarter valued at approximately $1,576,000. 69.72% of the stock is owned by hedge funds and other institutional investors.

Devon Energy Trading Down 0.3 %

Shares of Devon Energy stock opened at $31.37 on Friday. The company has a 50-day moving average of $33.56 and a two-hundred day moving average of $35.41. Devon Energy Co. has a 12-month low of $25.89 and a 12-month high of $53.20. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57. The stock has a market cap of $20.36 billion, a PE ratio of 6.88, a price-to-earnings-growth ratio of 1.20 and a beta of 1.50.

Devon Energy (NYSE:DVN - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.16. The firm had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.25 billion. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. On average, research analysts anticipate that Devon Energy Co. will post 4.85 EPS for the current fiscal year.

Devon Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a $0.24 dividend. The ex-dividend date was Friday, March 14th. This is a positive change from Devon Energy's previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 3.06%. Devon Energy's payout ratio is currently 21.05%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on DVN. Wells Fargo & Company cut their target price on shares of Devon Energy from $46.00 to $44.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Royal Bank of Canada reduced their target price on shares of Devon Energy from $49.00 to $40.00 and set a "sector perform" rating for the company in a report on Monday, April 14th. Scotiabank lowered their price target on Devon Energy from $45.00 to $35.00 and set a "sector outperform" rating on the stock in a report on Friday, April 11th. Raymond James set a $40.00 price target on Devon Energy in a research report on Monday, April 21st. Finally, Benchmark reaffirmed a "buy" rating and set a $44.00 price objective on shares of Devon Energy in a research report on Thursday, February 20th. Ten equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Devon Energy has an average rating of "Moderate Buy" and an average target price of $44.83.

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.

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