Hussman Strategic Advisors Inc. Buys Shares of 21,000 Devon Energy Co. (NYSE:DVN)

Hussman Strategic Advisors Inc. acquired a new stake in shares of Devon Energy Co. (NYSE:DVN - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 21,000 shares of the energy company's stock, valued at approximately $687,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Capital Performance Advisors LLP bought a new position in Devon Energy in the 3rd quarter worth about $35,000. Sierra Ocean LLC bought a new position in Devon Energy in the 4th quarter worth about $43,000. True Wealth Design LLC increased its stake in Devon Energy by 3,889.3% in the 3rd quarter. True Wealth Design LLC now owns 1,117 shares of the energy company's stock worth $44,000 after acquiring an additional 1,089 shares during the last quarter. Hazlett Burt & Watson Inc. increased its stake in Devon Energy by 29.8% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company's stock worth $49,000 after acquiring an additional 290 shares during the last quarter. Finally, Activest Wealth Management increased its stake in Devon Energy by 60.4% in the 3rd quarter. Activest Wealth Management now owns 1,275 shares of the energy company's stock worth $50,000 after acquiring an additional 480 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors.

Devon Energy Stock Down 2.8 %

Shares of NYSE:DVN traded down $1.07 during trading on Friday, hitting $37.49. The stock had a trading volume of 11,529,242 shares, compared to its average volume of 9,796,612. Devon Energy Co. has a 12 month low of $30.39 and a 12 month high of $55.09. The company has a market capitalization of $24.62 billion, a PE ratio of 8.22, a PEG ratio of 1.17 and a beta of 1.98. The firm's fifty day moving average is $34.47 and its 200 day moving average is $38.37. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.57.

Devon Energy (NYSE:DVN - Get Free Report) last announced its earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.16. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. The firm had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.25 billion. Analysts anticipate that Devon Energy Co. will post 4.85 EPS for the current fiscal year.

Devon Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a $0.24 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.96 annualized dividend and a dividend yield of 2.56%. This is a positive change from Devon Energy's previous quarterly dividend of $0.22. Devon Energy's dividend payout ratio is currently 21.05%.

Analyst Ratings Changes

A number of equities analysts have weighed in on DVN shares. Susquehanna upped their target price on Devon Energy from $50.00 to $52.00 and gave the stock a "positive" rating in a research note on Thursday. Wolfe Research upgraded Devon Energy from a "peer perform" rating to an "outperform" rating and set a $45.00 price objective for the company in a report on Friday, January 3rd. Royal Bank of Canada reiterated a "sector perform" rating and issued a $50.00 price objective on shares of Devon Energy in a report on Friday, January 10th. StockNews.com upgraded Devon Energy from a "sell" rating to a "hold" rating in a report on Friday, January 3rd. Finally, Barclays upped their price objective on Devon Energy from $43.00 to $44.00 and gave the stock an "equal weight" rating in a report on Thursday. Ten investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $48.83.

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.