Ontario Teachers Pension Plan Board Sells 19,752 Shares of Devon Energy Co. (NYSE:DVN)

Ontario Teachers Pension Plan Board lowered its holdings in Devon Energy Co. (NYSE:DVN - Free Report) by 40.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,781 shares of the energy company's stock after selling 19,752 shares during the period. Ontario Teachers Pension Plan Board's holdings in Devon Energy were worth $942,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Hurley Capital LLC acquired a new stake in shares of Devon Energy during the 4th quarter valued at $26,000. Cromwell Holdings LLC boosted its stake in shares of Devon Energy by 98.0% during the 4th quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company's stock worth $40,000 after acquiring an additional 598 shares in the last quarter. Sierra Ocean LLC bought a new stake in shares of Devon Energy during the 4th quarter worth about $43,000. Endeavor Private Wealth Inc. bought a new position in shares of Devon Energy in the fourth quarter valued at approximately $52,000. Finally, Thompson Investment Management Inc. lifted its position in Devon Energy by 60.0% during the 4th quarter. Thompson Investment Management Inc. now owns 1,600 shares of the energy company's stock worth $52,000 after acquiring an additional 600 shares during the last quarter. 69.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on DVN. Citigroup dropped their price objective on shares of Devon Energy from $46.00 to $43.00 and set a "buy" rating on the stock in a report on Friday, April 4th. Barclays upped their price target on Devon Energy from $43.00 to $44.00 and gave the company an "equal weight" rating in a report on Thursday, February 20th. Scotiabank decreased their price objective on Devon Energy from $45.00 to $35.00 and set a "sector outperform" rating on the stock in a report on Friday, April 11th. Susquehanna boosted their price objective on Devon Energy from $50.00 to $52.00 and gave the company a "positive" rating in a research report on Thursday, February 20th. Finally, Wells Fargo & Company reduced their target price on Devon Energy from $46.00 to $44.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Ten research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, Devon Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of $46.71.

Devon Energy Stock Performance

DVN stock traded up $0.99 during trading hours on Friday, reaching $30.29. The stock had a trading volume of 10,348,261 shares, compared to its average volume of 8,456,363. Devon Energy Co. has a fifty-two week low of $25.89 and a fifty-two week high of $53.20. 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 stock has a market capitalization of $19.66 billion, a PE ratio of 6.64, a price-to-earnings-growth ratio of 1.20 and a beta of 1.50. The stock has a 50-day simple moving average of $33.92 and a 200 day simple moving average of $35.83.

Devon Energy (NYSE:DVN - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.00 by $0.16. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The firm had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.25 billion. Analysts predict that Devon Energy Co. will post 4.85 EPS 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 given a dividend of $0.24 per share. 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 3.17%. This is a boost from Devon Energy's previous quarterly dividend of $0.22. Devon Energy's dividend payout ratio 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.