Devon Energy Co. (NYSE:DVN) Shares Purchased by Amundi

Amundi raised its holdings in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 2.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,220,879 shares of the energy company's stock after purchasing an additional 50,301 shares during the quarter. Amundi owned 0.34% of Devon Energy worth $78,064,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Sfmg LLC grew its stake in Devon Energy by 0.5% during the 3rd quarter. Sfmg LLC now owns 64,871 shares of the energy company's stock valued at $2,538,000 after purchasing an additional 294 shares in the last quarter. Redwood Wealth Management Group LLC grew its stake in Devon Energy by 3.9% during the 4th quarter. Redwood Wealth Management Group LLC now owns 8,141 shares of the energy company's stock valued at $266,000 after purchasing an additional 309 shares in the last quarter. Cornerstone Wealth Management LLC grew its stake in Devon Energy by 1.6% during the 4th quarter. Cornerstone Wealth Management LLC now owns 21,242 shares of the energy company's stock valued at $695,000 after purchasing an additional 326 shares in the last quarter. Annex Advisory Services LLC grew its stake in Devon Energy by 1.2% during the 4th quarter. Annex Advisory Services LLC now owns 27,021 shares of the energy company's stock valued at $884,000 after purchasing an additional 327 shares in the last quarter. Finally, Fiduciary Trust Co grew its stake in Devon Energy by 3.1% during the 3rd quarter. Fiduciary Trust Co now owns 11,074 shares of the energy company's stock valued at $433,000 after purchasing an additional 329 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on DVN. Royal Bank of Canada reiterated a "sector perform" rating and issued a $50.00 target price on shares of Devon Energy in a research report on Friday, January 10th. Raymond James decreased their target price on Devon Energy from $54.00 to $46.00 and set an "outperform" rating for the company in a research report on Monday. Wells Fargo & Company decreased their target price on Devon Energy from $49.00 to $43.00 and set an "overweight" rating for the company in a research report on Tuesday, December 17th. Barclays lifted their target price on Devon Energy from $43.00 to $44.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 20th. Finally, JPMorgan Chase & Co. lowered Devon Energy from an "overweight" rating to a "neutral" rating and set a $43.00 target price for the company. in a research report on Thursday, December 5th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $48.58.

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Devon Energy Stock Up 0.5 %

Shares of Devon Energy stock opened at $34.40 on Wednesday. The business's fifty day moving average price is $35.32 and its two-hundred day moving average price is $37.49. 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 company has a market capitalization of $22.32 billion, a P/E ratio of 7.54, a PEG ratio of 1.20 and a beta of 1.91. Devon Energy Co. has a 1-year low of $30.39 and a 1-year high of $55.09.

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, beating 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 company had revenue of $4.40 billion for the quarter, compared to analysts' expectations of $4.25 billion. As a group, research analysts forecast that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Devon Energy's previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 2.79%. Devon Energy's dividend payout ratio (DPR) is 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.

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