Invesco Ltd. Increases Stock Holdings in Devon Energy Co. (NYSE:DVN)

Invesco Ltd. boosted its position in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 32.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 9,461,719 shares of the energy company's stock after acquiring an additional 2,335,473 shares during the quarter. Invesco Ltd. owned about 1.44% of Devon Energy worth $309,682,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Federated Hermes Inc. grew its holdings in Devon Energy by 24.8% during the fourth quarter. Federated Hermes Inc. now owns 455,477 shares of the energy company's stock worth $14,908,000 after acquiring an additional 90,531 shares during the period. Aster Capital Management DIFC Ltd raised its holdings in shares of Devon Energy by 214.1% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 40,161 shares of the energy company's stock worth $1,314,000 after acquiring an additional 27,375 shares during the period. Peapack Gladstone Financial Corp increased its holdings in shares of Devon Energy by 6.3% during the 4th quarter. Peapack Gladstone Financial Corp now owns 146,063 shares of the energy company's stock worth $4,780,000 after buying an additional 8,636 shares during the last quarter. Titleist Asset Management LLC raised its position in Devon Energy by 4.2% in the fourth quarter. Titleist Asset Management LLC now owns 15,911 shares of the energy company's stock valued at $521,000 after purchasing an additional 643 shares during the period. Finally, Russell Investments Group Ltd. raised its holdings in Devon Energy by 25.1% in the 4th quarter. Russell Investments Group Ltd. now owns 865,999 shares of the energy company's stock valued at $28,342,000 after buying an additional 173,580 shares during the period. Hedge funds and other institutional investors own 69.72% of the company's stock.

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Devon Energy Price Performance

Devon Energy stock traded up $0.20 during midday trading on Monday, reaching $28.43. 2,137,773 shares of the company were exchanged, compared to its average volume of 8,363,488. Devon Energy Co. has a 1 year low of $25.89 and a 1 year high of $54.04. The company has a market capitalization of $18.45 billion, a price-to-earnings ratio of 6.23, a P/E/G ratio of 1.20 and a beta of 1.50. The firm's 50-day simple moving average is $34.38 and its 200-day simple moving average is $36.13. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.04.

Devon Energy (NYSE:DVN - Get Free Report) last issued its quarterly earnings results 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. The firm had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.25 billion. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. On average, analysts anticipate that Devon Energy Co. will post 4.85 EPS for the current 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. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from Devon Energy's previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a yield of 3.38%. Devon Energy's dividend payout ratio is currently 21.05%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Barclays raised their price target on Devon Energy from $43.00 to $44.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. dropped their price objective on shares of Devon Energy from $48.00 to $42.00 and set a "neutral" rating on the stock in a research report on Thursday, March 13th. Sanford C. Bernstein raised Devon Energy from a "market perform" rating to an "outperform" rating and set a $45.00 target price on the stock in a research report on Wednesday, January 15th. Cowen cut shares of Devon Energy to a "hold" rating and reduced their price target for the company from $46.00 to $45.00 in a research report on Tuesday, February 18th. Finally, 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 on the stock in a research report on Monday. Ten research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $46.71.

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.