Commonwealth Equity Services LLC Grows Position in Devon Energy Co. (NYSE:DVN)

Commonwealth Equity Services LLC boosted its stake in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 23.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 403,505 shares of the energy company's stock after buying an additional 75,851 shares during the quarter. Commonwealth Equity Services LLC owned 0.06% of Devon Energy worth $13,207,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Geode Capital Management LLC increased its position in shares of Devon Energy by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 15,892,970 shares of the energy company's stock valued at $619,747,000 after purchasing an additional 206,884 shares during the last quarter. EnCap Energy Capital Fund XI L.P. purchased a new position in Devon Energy in the third quarter valued at $461,857,000. Pacer Advisors Inc. increased its holdings in Devon Energy by 16.9% in the third quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company's stock valued at $453,446,000 after buying an additional 1,677,652 shares during the last quarter. EnCap Partners GP LLC acquired a new stake in Devon Energy in the third quarter valued at $408,653,000. Finally, Victory Capital Management Inc. lifted its holdings in Devon Energy by 2.3% during the 4th quarter. Victory Capital Management Inc. now owns 10,203,812 shares of the energy company's stock worth $333,971,000 after buying an additional 232,469 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Devon Energy Trading Up 0.1 %

Shares of DVN stock traded up $0.05 during mid-day trading on Friday, hitting $36.18. 12,727,559 shares of the company's stock were exchanged, compared to its average volume of 7,842,045. The stock has a market cap of $23.48 billion, a price-to-earnings ratio of 7.93, a PEG ratio of 1.20 and a beta of 1.91. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. Devon Energy Co. has a fifty-two week low of $30.39 and a fifty-two week high of $55.09. The stock has a 50-day simple moving average of $35.46 and a two-hundred day simple moving average of $37.06.

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Devon Energy (NYSE:DVN - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share (EPS) 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 analysts expect that Devon Energy Co. will post 4.85 EPS for the current fiscal year.

Devon Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.65%. This is an increase from Devon Energy's previous quarterly dividend of $0.22. The ex-dividend date is Friday, March 14th. Devon Energy's payout ratio is presently 21.05%.

Analyst Upgrades and Downgrades

DVN has been the topic of several research reports. Sanford C. Bernstein raised Devon Energy from a "market perform" rating to an "outperform" rating and set a $45.00 price objective on the stock in a report on Wednesday, January 15th. JPMorgan Chase & Co. cut their price target on Devon Energy from $48.00 to $42.00 and set a "neutral" rating on the stock in a research report on Thursday, March 13th. Cowen lowered shares of Devon Energy to a "hold" rating and lowered their target price for the stock from $46.00 to $45.00 in a research report on Tuesday, February 18th. Raymond James cut their target price on shares of Devon Energy from $54.00 to $46.00 and set an "outperform" rating on the stock in a report on Monday, March 10th. Finally, Wells Fargo & Company decreased their price target on shares of Devon Energy from $49.00 to $43.00 and set an "overweight" rating for the company in a research note on Tuesday, December 17th. Ten investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $48.46.

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.