Marathon Trading Investment Management LLC Makes New Investment in Devon Energy Co. (NYSE:DVN)

Marathon Trading Investment Management LLC acquired a new position in shares of Devon Energy Co. (NYSE:DVN - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 12,041 shares of the energy company's stock, valued at approximately $394,000.

Other hedge funds have also modified their holdings of the company. Geode Capital Management LLC grew its stake in shares of Devon Energy by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 15,892,970 shares of the energy company's stock valued at $619,747,000 after buying an additional 206,884 shares during the period. EnCap Energy Capital Fund XI L.P. purchased a new stake in shares of Devon Energy during the 3rd quarter valued at $461,857,000. Pacer Advisors Inc. lifted its holdings in shares of Devon Energy by 16.9% during the 3rd quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company's stock valued at $453,446,000 after acquiring an additional 1,677,652 shares in the last quarter. EnCap Partners GP LLC acquired a new position in shares of Devon Energy during the 3rd quarter valued at $408,653,000. Finally, Victory Capital Management Inc. lifted its holdings in shares of Devon Energy by 2.3% during the 4th quarter. Victory Capital Management Inc. now owns 10,203,812 shares of the energy company's stock valued at $333,971,000 after acquiring an additional 232,469 shares in the last quarter. 69.72% of the stock is owned by hedge funds and other institutional investors.

Devon Energy Stock Performance

Shares of NYSE:DVN traded up $0.19 during trading on Tuesday, reaching $34.40. 8,721,211 shares of the company's stock traded hands, compared to its average volume of 7,856,051. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01. Devon Energy Co. has a 12 month low of $30.39 and a 12 month high of $55.09. The company has a 50 day moving average of $35.32 and a 200-day moving average of $37.49. The stock has a market capitalization of $22.32 billion, a P/E ratio of 7.54, a price-to-earnings-growth ratio of 1.20 and a beta of 1.91.

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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 for the quarter, beating 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 business had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.25 billion. On average, equities analysts expect that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a $0.24 dividend. This is a boost from Devon Energy's previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.96 annualized dividend and a yield of 2.79%. Devon Energy's dividend payout ratio is 21.05%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on DVN shares. StockNews.com upgraded shares of Devon Energy from a "sell" rating to a "hold" rating in a report on Friday, January 3rd. Susquehanna boosted their price objective on shares of Devon Energy from $50.00 to $52.00 and gave the stock a "positive" rating in a report on Thursday, February 20th. Wells Fargo & Company cut their price objective on shares of Devon Energy from $49.00 to $43.00 and set an "overweight" rating on the stock in a report on Tuesday, December 17th. Benchmark reiterated a "buy" rating and issued a $44.00 price objective on shares of Devon Energy in a report on Thursday, February 20th. Finally, 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. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $48.58.

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.