Ontario Teachers Pension Plan Board Has $1.90 Million Stock Position in Devon Energy Co. (NYSE:DVN)

Ontario Teachers Pension Plan Board reduced its holdings in Devon Energy Co. (NYSE:DVN - Free Report) by 55.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,533 shares of the energy company's stock after selling 59,716 shares during the period. Ontario Teachers Pension Plan Board's holdings in Devon Energy were worth $1,899,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of DVN. Triad Wealth Partners LLC acquired a new position in shares of Devon Energy in the second quarter worth $27,000. 1620 Investment Advisors Inc. acquired a new position in Devon Energy in the 2nd quarter worth about $34,000. Capital Performance Advisors LLP purchased a new stake in shares of Devon Energy during the 3rd quarter worth about $35,000. PSI Advisors LLC lifted its holdings in shares of Devon Energy by 66.7% during the 2nd quarter. PSI Advisors LLC now owns 750 shares of the energy company's stock valued at $36,000 after buying an additional 300 shares during the last quarter. Finally, LRI Investments LLC bought a new stake in shares of Devon Energy in the 1st quarter valued at approximately $39,000. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Devon Energy Price Performance

Shares of NYSE:DVN traded up $0.39 on Wednesday, hitting $38.30. The stock had a trading volume of 5,753,838 shares, compared to its average volume of 7,424,062. The firm's 50 day moving average price is $39.99 and its 200-day moving average price is $44.15. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11. Devon Energy Co. has a twelve month low of $37.76 and a twelve month high of $55.09. The company has a market capitalization of $25.16 billion, a price-to-earnings ratio of 7.08, a price-to-earnings-growth ratio of 1.20 and a beta of 2.03.

Devon Energy (NYSE:DVN - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, beating analysts' consensus estimates of $1.09 by $0.01. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The firm had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same period 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. On average, equities research analysts predict that Devon Energy Co. will post 4.84 earnings per share for the current year.

Devon Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date is Friday, December 13th. Devon Energy's dividend payout ratio is currently 16.33%.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. TD Cowen reduced their target price on shares of Devon Energy from $54.00 to $46.00 and set a "hold" rating for the company in a research note on Tuesday, November 5th. Wells Fargo & Company cut their target price on Devon Energy from $50.00 to $49.00 and set an "overweight" rating on the stock in a report on Thursday, November 7th. Susquehanna lowered their price objective on Devon Energy from $63.00 to $62.00 and set a "positive" rating on the stock in a report on Friday, October 18th. Morgan Stanley reduced their target price on Devon Energy from $55.00 to $51.00 and set an "overweight" rating for the company in a report on Monday, September 16th. Finally, Raymond James reduced their price objective on shares of Devon Energy from $58.00 to $51.00 in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $51.85.

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.