Geode Capital Management LLC Purchases 1,038,305 Shares of Devon Energy Co. (NYSE:DVN)

Geode Capital Management LLC lifted its position in Devon Energy Co. (NYSE:DVN - Free Report) by 6.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,931,275 shares of the energy company's stock after buying an additional 1,038,305 shares during the period. Geode Capital Management LLC owned approximately 2.58% of Devon Energy worth $552,830,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Cromwell Holdings LLC lifted its position 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 valued at $40,000 after acquiring an additional 598 shares during the last quarter. Sierra Ocean LLC purchased a new position in Devon Energy in the 4th quarter worth about $43,000. Endeavor Private Wealth Inc. purchased a new position in shares of Devon Energy in the fourth quarter worth approximately $52,000. Thompson Investment Management Inc. raised its stake 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 valued at $52,000 after purchasing an additional 600 shares during the period. Finally, Asset Planning Inc purchased a new stake in Devon Energy in the 4th quarter worth about $54,000. Institutional investors own 69.72% of the company's stock.

Analysts Set New Price Targets

DVN has been the subject of a number of recent research reports. StockNews.com raised Devon Energy from a "sell" rating to a "hold" rating in a research note on Friday, January 3rd. Morgan Stanley set a $47.00 target price on Devon Energy and gave the stock an "overweight" rating in a research report on Wednesday, March 26th. Barclays boosted their price objective on shares of Devon Energy from $43.00 to $44.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 20th. Cowen downgraded shares of Devon Energy to a "hold" rating and dropped their target price for the stock from $46.00 to $45.00 in a report on Tuesday, February 18th. Finally, Mizuho reduced their price objective on Devon Energy from $51.00 to $47.00 and set an "outperform" rating for the company in a research report on Monday, December 16th. Ten analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $48.17.

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Devon Energy Trading Down 3.5 %

DVN stock traded down $1.03 during midday trading on Monday, hitting $28.29. 7,345,520 shares of the company's stock were exchanged, compared to its average volume of 8,197,267. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.04. The company has a market cap of $18.36 billion, a PE ratio of 6.20, a price-to-earnings-growth ratio of 1.20 and a beta of 1.50. The stock's fifty day moving average price is $35.22 and its 200-day moving average price is $36.67. Devon Energy Co. has a one year low of $27.31 and a one year high of $55.09.

Devon Energy (NYSE:DVN - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.00 by $0.16. The company 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%. 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 announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a $0.24 dividend. This is an increase from Devon Energy's previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend was Friday, March 14th. Devon Energy's dividend payout ratio (DPR) is 21.05%.

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.