Devon Energy Co. (NYSE:DVN) Shares Bought by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. lifted its position in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 345.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,163,792 shares of the energy company's stock after buying an additional 1,678,500 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.33% of Devon Energy worth $70,821,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in DVN. Vanguard Group Inc. increased its stake in Devon Energy by 7.3% during the fourth quarter. Vanguard Group Inc. now owns 80,682,170 shares of the energy company's stock worth $2,640,727,000 after acquiring an additional 5,465,692 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Devon Energy during the 4th quarter worth about $154,170,000. Fuller & Thaler Asset Management Inc. increased its position in Devon Energy by 42.8% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 10,395,225 shares of the energy company's stock worth $340,236,000 after purchasing an additional 3,114,656 shares in the last quarter. Marshall Wace LLP raised its holdings in Devon Energy by 135.5% in the fourth quarter. Marshall Wace LLP now owns 5,371,518 shares of the energy company's stock valued at $175,810,000 after buying an additional 3,090,585 shares during the period. Finally, Invesco Ltd. lifted its position in Devon Energy by 32.8% during the fourth quarter. Invesco Ltd. now owns 9,461,719 shares of the energy company's stock valued at $309,682,000 after buying an additional 2,335,473 shares in the last quarter. 69.72% of the stock is owned by hedge funds and other institutional investors.

Devon Energy Trading Down 0.4 %

NYSE:DVN opened at $31.08 on Thursday. The company has a market cap of $20.17 billion, a PE ratio of 6.82, a P/E/G ratio of 1.20 and a beta of 1.50. The business's 50 day moving average is $33.70 and its two-hundred day moving average is $35.60. 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 52 week low of $25.89 and a 52 week high of $53.20.

Devon Energy (NYSE:DVN - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts' expectations of $4.25 billion. On average, analysts predict that Devon Energy Co. will post 4.85 EPS for the current 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 dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date was Friday, March 14th. This is an increase from Devon Energy's previous quarterly dividend of $0.22. Devon Energy's dividend payout ratio is currently 21.05%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on DVN. Sanford C. Bernstein upgraded shares of Devon Energy from a "market perform" rating to an "outperform" rating and set a $45.00 target price on the stock in a report on Wednesday, January 15th. Wells Fargo & Company decreased their target price on Devon Energy from $46.00 to $44.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. StockNews.com upgraded Devon Energy from a "sell" rating to a "hold" rating in a research note on Friday, January 3rd. Benchmark reissued a "buy" rating and set a $44.00 price target on shares of Devon Energy in a research report on Thursday, February 20th. Finally, Raymond James set a $40.00 price objective on shares of Devon Energy in a research report on Monday. Ten research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $44.83.

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.

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