Nordea Investment Management AB Increases Holdings in Devon Energy Co. (NYSE:DVN)

Nordea Investment Management AB boosted its stake in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 70.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 65,861 shares of the energy company's stock after purchasing an additional 27,114 shares during the period. Nordea Investment Management AB's holdings in Devon Energy were worth $2,145,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of DVN. William B. Walkup & Associates Inc. bought a new stake in Devon Energy during the second quarter valued at about $1,026,000. Legacy Investment Solutions LLC bought a new stake in Devon Energy during the third quarter valued at about $8,002,000. Bridgewater Associates LP bought a new stake in Devon Energy during the third quarter valued at about $9,426,000. Petrus Trust Company LTA raised its holdings in Devon Energy by 394.7% during the third quarter. Petrus Trust Company LTA now owns 21,827 shares of the energy company's stock valued at $854,000 after acquiring an additional 17,415 shares during the period. Finally, CIBC Asset Management Inc raised its holdings in Devon Energy by 6.3% during the third quarter. CIBC Asset Management Inc now owns 107,182 shares of the energy company's stock valued at $4,193,000 after acquiring an additional 6,358 shares during the period. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Devon Energy Trading Up 2.7 %

Shares of NYSE:DVN traded up $0.95 during trading hours on Friday, hitting $36.10. 14,300,690 shares of the company's stock traded hands, compared to its average volume of 8,392,534. Devon Energy Co. has a 1 year low of $30.39 and a 1 year high of $55.09. The business has a fifty day moving average price of $35.62 and a 200-day moving average price of $40.56. The firm has a market capitalization of $23.71 billion, a P/E ratio of 6.70, a price-to-earnings-growth ratio of 1.07 and a beta of 1.99. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01.

Devon Energy (NYSE:DVN - Get Free Report) last announced its earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.01. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The business had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same quarter in the previous year, the business earned $1.65 earnings per share. The company's revenue for the quarter was up 4.9% compared to the same quarter last year. Equities analysts expect that Devon Energy Co. will post 4.79 earnings per share for the current year.

Devon Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.88 annualized dividend and a dividend yield of 2.44%. Devon Energy's dividend payout ratio (DPR) is presently 16.33%.

Analyst Ratings Changes

DVN has been the topic of a number of recent analyst reports. UBS Group decreased their price target on Devon Energy from $53.00 to $47.00 and set a "neutral" rating on the stock in a report on Wednesday, September 18th. StockNews.com raised Devon Energy from a "sell" rating to a "hold" rating in a report on Friday, January 3rd. BMO Capital Markets reduced their target price on Devon Energy from $52.00 to $48.00 and set an "outperform" rating on the stock in a report on Friday, October 4th. TD Cowen reduced their target price on Devon Energy from $54.00 to $46.00 and set a "hold" rating on the stock in a report on Tuesday, November 5th. Finally, Wolfe Research raised Devon Energy from a "peer perform" rating to an "outperform" rating and set a $45.00 target price on the stock in a report on Friday, January 3rd. Eleven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $49.48.

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.