Envestnet Asset Management Inc. Has $9.27 Million Holdings in Devon Energy Co. (NYSE:DVN)

Envestnet Asset Management Inc. lowered its position in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 9.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 283,310 shares of the energy company's stock after selling 28,471 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Devon Energy were worth $9,273,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cromwell Holdings LLC grew its position in shares of 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 purchasing an additional 598 shares during the period. Sierra Ocean LLC acquired a new stake in Devon Energy in the 4th quarter worth about $43,000. Endeavor Private Wealth Inc. purchased a new stake in Devon Energy in the 4th quarter valued at about $52,000. Thompson Investment Management Inc. grew its holdings in Devon Energy by 60.0% in the 4th quarter. Thompson Investment Management Inc. now owns 1,600 shares of the energy company's stock valued at $52,000 after buying an additional 600 shares during the period. Finally, Asset Planning Inc acquired a new position in shares of Devon Energy during the 4th quarter valued at about $54,000. 69.72% of the stock is owned by hedge funds and other institutional investors.

Devon Energy Stock Performance

NYSE DVN traded up $0.99 during trading hours on Friday, reaching $30.29. The company's stock had a trading volume of 10,348,261 shares, compared to its average volume of 8,469,941. The stock has a market cap of $19.66 billion, a PE ratio of 6.64, a PEG ratio of 1.20 and a beta of 1.50. The business has a 50-day simple moving average of $33.92 and a 200 day simple moving average of $35.80. The company has a current ratio of 1.04, a quick ratio of 1.01 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 issued its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.16. The firm had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.25 billion. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. Equities research analysts predict 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. Shareholders of record on Friday, March 14th were paid a dividend of $0.24 per share. This is a positive change from Devon Energy's previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend was Friday, March 14th. Devon Energy's dividend payout ratio (DPR) is presently 21.05%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Royal Bank of Canada lowered their target price on shares of Devon Energy from $49.00 to $40.00 and set a "sector perform" rating for the company in a report on Monday, April 14th. Mizuho lowered their price objective on shares of Devon Energy from $49.00 to $46.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Williams Trading set a $50.00 price objective on Devon Energy in a report on Wednesday, March 5th. Sanford C. Bernstein upgraded 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. Finally, UBS Group dropped their price target on Devon Energy from $41.00 to $35.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Ten analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $46.71.

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.