Aster Capital Management DIFC Ltd Has $1.31 Million Position in Devon Energy Co. (NYSE:DVN)

Aster Capital Management DIFC Ltd boosted its stake in Devon Energy Co. (NYSE:DVN - Free Report) by 214.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 40,161 shares of the energy company's stock after acquiring an additional 27,375 shares during the quarter. Aster Capital Management DIFC Ltd's holdings in Devon Energy were worth $1,314,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. FMR LLC grew its position in shares of Devon Energy by 39.8% during the third quarter. FMR LLC now owns 1,722,145 shares of the energy company's stock worth $67,370,000 after buying an additional 489,964 shares in the last quarter. Benjamin Edwards Inc. raised its stake in shares of Devon Energy by 2,431.2% in the 3rd quarter. Benjamin Edwards Inc. now owns 15,744 shares of the energy company's stock valued at $616,000 after purchasing an additional 15,122 shares in the last quarter. Investment Management Corp of Ontario lifted its position in shares of Devon Energy by 48.3% during the third quarter. Investment Management Corp of Ontario now owns 20,884 shares of the energy company's stock worth $817,000 after purchasing an additional 6,800 shares during the last quarter. Integrated Wealth Concepts LLC grew its stake in Devon Energy by 29.8% in the third quarter. Integrated Wealth Concepts LLC now owns 30,881 shares of the energy company's stock worth $1,208,000 after purchasing an additional 7,087 shares in the last quarter. Finally, Morse Asset Management Inc bought a new stake in Devon Energy in the third quarter valued at about $126,000. 69.72% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on DVN shares. Sanford C. Bernstein upgraded Devon Energy from a "market perform" rating to an "outperform" rating and set a $45.00 price target for the company in a report on Wednesday, January 15th. StockNews.com upgraded shares of Devon Energy from a "sell" rating to a "hold" rating in a research note on Friday, January 3rd. Williams Trading set a $50.00 price target on shares of Devon Energy in a research report on Wednesday, March 5th. Wells Fargo & Company reduced their price target on shares of Devon Energy from $49.00 to $43.00 and set an "overweight" rating for the company in a report on Tuesday, December 17th. Finally, Raymond James cut their price objective on shares of Devon Energy from $54.00 to $46.00 and set an "outperform" rating on the stock in a research report on Monday, March 10th. Ten analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $47.63.

Devon Energy Price Performance

NYSE:DVN traded down $3.33 during trading hours on Thursday, reaching $27.74. 8,628,822 shares of the company's stock were exchanged, compared to its average volume of 8,342,273. The company has a market capitalization of $18.00 billion, a P/E ratio of 6.10, a price-to-earnings-growth ratio of 1.20 and a beta of 1.50. Devon Energy Co. has a 12 month low of $25.89 and a 12 month high of $55.09. The business's 50-day simple moving average is $34.62 and its two-hundred day simple moving average is $36.31. 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 (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, topping the consensus estimate of $1.00 by $0.16. The business had revenue of $4.40 billion during 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%. Sell-side analysts expect that Devon Energy Co. will post 4.85 EPS for the current fiscal year.

Devon Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a $0.24 dividend. This is a positive change from Devon Energy's previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.96 dividend on an annualized basis and a yield of 3.46%. Devon Energy's dividend payout ratio (DPR) 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.