BI Asset Management Fondsmaeglerselskab A S Boosts Stake in Devon Energy Co. (NYSE:DVN)

BI Asset Management Fondsmaeglerselskab A S raised its holdings in Devon Energy Co. (NYSE:DVN - Free Report) by 42.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 140,434 shares of the energy company's stock after acquiring an additional 42,099 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Devon Energy were worth $4,596,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Hurley Capital LLC acquired a new position in shares of Devon Energy in the 4th quarter worth approximately $26,000. Cromwell Holdings LLC lifted its holdings 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 during the period. Sierra Ocean LLC bought a new stake in Devon Energy during the fourth quarter valued at $43,000. Endeavor Private Wealth Inc. acquired a new stake in Devon Energy during the 4th quarter worth about $52,000. Finally, Thompson Investment Management Inc. raised its position in shares of Devon Energy by 60.0% in the 4th quarter. Thompson Investment Management Inc. now owns 1,600 shares of the energy company's stock worth $52,000 after acquiring an additional 600 shares in the last quarter. Institutional investors own 69.72% of the company's stock.

Devon Energy Stock Performance

Shares of DVN traded up $0.40 during trading hours on Thursday, hitting $31.48. The company's stock had a trading volume of 3,068,211 shares, compared to its average volume of 10,103,169. The company has a market cap of $20.43 billion, a price-to-earnings ratio of 6.90, a PEG ratio of 1.20 and a beta of 1.50. 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 business has a 50 day simple moving average of $33.70 and a two-hundred day simple moving average of $35.60. Devon Energy Co. has a 52-week low of $25.89 and a 52-week high of $53.20.

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 analysts' consensus estimates of $1.00 by $0.16. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The business had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.25 billion. On average, equities analysts expect that Devon Energy Co. will post 4.85 earnings per share for the current fiscal year.

Devon Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.05%. This is an increase from Devon Energy's previous quarterly dividend of $0.22. The ex-dividend date was Friday, March 14th. Devon Energy's dividend payout ratio is presently 21.05%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. UBS Group cut their target price on shares of Devon Energy from $41.00 to $35.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Williams Trading set a $50.00 target price on Devon Energy in a research report on Wednesday, March 5th. Mizuho cut their price target on Devon Energy from $49.00 to $46.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Barclays lowered their target price on Devon Energy from $44.00 to $38.00 and set an "equal weight" rating on the stock in a research report on Wednesday. Finally, JPMorgan Chase & Co. decreased their price target on shares of Devon Energy from $48.00 to $42.00 and set a "neutral" rating for the company in a research note on Thursday, March 13th. Ten equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Devon Energy has an average rating of "Moderate Buy" and a consensus 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.