AXQ Capital LP Invests $1.49 Million in Devon Energy Co. (NYSE:DVN)

AXQ Capital LP bought a new stake in shares of Devon Energy Co. (NYSE:DVN - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 45,607 shares of the energy company's stock, valued at approximately $1,493,000. Devon Energy accounts for about 0.7% of AXQ Capital LP's portfolio, making the stock its 18th biggest holding.

Several other institutional investors have also recently made changes to their positions in DVN. Sfmg LLC grew its holdings in Devon Energy by 0.5% during the 3rd quarter. Sfmg LLC now owns 64,871 shares of the energy company's stock valued at $2,538,000 after buying an additional 294 shares in the last quarter. Redwood Wealth Management Group LLC grew its stake in Devon Energy by 3.9% during the fourth quarter. Redwood Wealth Management Group LLC now owns 8,141 shares of the energy company's stock valued at $266,000 after acquiring an additional 309 shares in the last quarter. Cornerstone Wealth Management LLC grew its stake in Devon Energy by 1.6% during the fourth quarter. Cornerstone Wealth Management LLC now owns 21,242 shares of the energy company's stock valued at $695,000 after acquiring an additional 326 shares in the last quarter. Annex Advisory Services LLC increased its holdings in Devon Energy by 1.2% during the 4th quarter. Annex Advisory Services LLC now owns 27,021 shares of the energy company's stock worth $884,000 after acquiring an additional 327 shares during the period. Finally, Fiduciary Trust Co lifted its stake in Devon Energy by 3.1% in the 3rd quarter. Fiduciary Trust Co now owns 11,074 shares of the energy company's stock worth $433,000 after purchasing an additional 329 shares in the last quarter. Hedge funds and other institutional investors own 69.72% of the company's stock.

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Devon Energy Trading Down 0.0 %

Devon Energy stock traded down $0.01 during trading hours on Tuesday, reaching $36.95. The stock had a trading volume of 2,476,713 shares, compared to its average volume of 7,845,709. Devon Energy Co. has a 52 week low of $30.39 and a 52 week high of $55.09. The stock has a market cap of $23.98 billion, a PE ratio of 8.10, a PEG ratio of 1.20 and a beta of 1.91. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01. The company has a fifty day simple moving average of $35.46 and a 200-day simple moving average of $36.95.

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

Devon Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.24 per share. This is an increase from Devon Energy's previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend is Friday, March 14th. Devon Energy's payout ratio is presently 21.05%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on DVN. Citigroup decreased their price target on shares of Devon Energy from $48.00 to $46.00 and set a "buy" rating on the stock in a report on Monday, March 17th. Benchmark reaffirmed a "buy" rating and issued a $44.00 price target on shares of Devon Energy in a report on Thursday, February 20th. Cowen lowered Devon Energy to a "hold" rating and cut their price objective for the stock from $46.00 to $45.00 in a report on Tuesday, February 18th. Raymond James lowered their target price on shares of Devon Energy from $54.00 to $46.00 and set an "outperform" rating on the stock in a research note on Monday, March 10th. Finally, StockNews.com raised shares of Devon Energy from a "sell" rating to a "hold" rating in a research note on Friday, January 3rd. Ten investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $48.46.

Devon Energy Company 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.