Bryce Point Capital LLC Invests $468,000 in Devon Energy Co. (NYSE:DVN)

Bryce Point Capital LLC acquired a new position in shares of Devon Energy Co. (NYSE:DVN - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 14,293 shares of the energy company's stock, valued at approximately $468,000.

Several other hedge funds have also recently bought and sold shares of the company. Cromwell Holdings LLC boosted its position in Devon Energy by 98.0% in the fourth quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company's stock valued at $40,000 after buying an additional 598 shares in the last quarter. Sierra Ocean LLC acquired a new position in shares of Devon Energy in the fourth quarter valued at approximately $43,000. Endeavor Private Wealth Inc. acquired a new position in shares of Devon Energy during the fourth quarter worth $52,000. Thompson Investment Management Inc. grew its stake in shares of Devon Energy by 60.0% in the fourth quarter. Thompson Investment Management Inc. now owns 1,600 shares of the energy company's stock worth $52,000 after purchasing an additional 600 shares during the last quarter. Finally, Asset Planning Inc acquired a new position in Devon Energy during the 4th quarter worth about $54,000. 69.72% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on DVN. Cowen downgraded shares of Devon Energy to a "hold" rating and decreased their target price for the company from $46.00 to $45.00 in a research report on Tuesday, February 18th. Morgan Stanley set a $47.00 target price on shares of Devon Energy and gave the stock an "overweight" rating in a research note on Wednesday, March 26th. Barclays boosted their target price on Devon Energy from $43.00 to $44.00 and gave the company an "equal weight" rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. cut their price target on Devon Energy from $48.00 to $42.00 and set a "neutral" rating for the company in a research note on Thursday, March 13th. Finally, Wells Fargo & Company cut their target price on shares of Devon Energy from $49.00 to $43.00 and set an "overweight" rating for the company in a research report on Tuesday, December 17th. Ten equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Devon Energy currently has a consensus rating of "Moderate Buy" and an average target price of $47.67.

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Devon Energy Trading Down 1.6 %

DVN traded down $0.45 during trading on Tuesday, hitting $28.16. 4,490,034 shares of the stock traded hands, compared to its average volume of 9,656,212. The firm has a market capitalization of $18.27 billion, a P/E ratio of 6.17, a price-to-earnings-growth ratio of 1.20 and a beta of 1.50. The firm has a 50-day moving average of $35.08 and a 200 day moving average of $36.58. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01. Devon Energy Co. has a 12-month low of $27.14 and a 12-month high of $55.09.

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. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. The firm had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.25 billion. Equities research analysts anticipate that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.96 annualized dividend and a dividend yield of 3.41%. This is a boost from Devon Energy's previous quarterly dividend of $0.22. Devon Energy's payout ratio is currently 21.05%.

About Devon Energy

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.