Marshall Wace LLP Purchases 3,090,585 Shares of Devon Energy Co. (NYSE:DVN)

Marshall Wace LLP lifted its position in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 135.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,371,518 shares of the energy company's stock after purchasing an additional 3,090,585 shares during the period. Marshall Wace LLP owned about 0.82% of Devon Energy worth $175,810,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in DVN. Vanguard Group Inc. grew its stake in shares of Devon Energy by 7.3% during the fourth quarter. Vanguard Group Inc. now owns 80,682,170 shares of the energy company's stock valued at $2,640,727,000 after acquiring an additional 5,465,692 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Devon Energy in the fourth quarter valued at about $154,170,000. Invesco Ltd. grew its stake in Devon Energy by 32.8% during the 4th quarter. Invesco Ltd. now owns 9,461,719 shares of the energy company's stock valued at $309,682,000 after purchasing an additional 2,335,473 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Devon Energy by 90.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 2,724,407 shares of the energy company's stock worth $89,170,000 after purchasing an additional 1,296,590 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Devon Energy by 6.5% during the 4th quarter. Geode Capital Management LLC now owns 16,931,275 shares of the energy company's stock valued at $552,830,000 after buying an additional 1,038,305 shares during the last quarter. 69.72% of the stock is owned by institutional investors and hedge funds.

Devon Energy Stock Up 3.4 %

NYSE:DVN traded up $0.99 during trading hours on Friday, reaching $30.29. The company's stock had a trading volume of 10,348,261 shares, compared to its average volume of 8,469,941. 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 company has a market cap of $19.66 billion, a price-to-earnings ratio of 6.64, a price-to-earnings-growth ratio of 1.20 and a beta of 1.50. Devon Energy Co. has a one year low of $25.89 and a one year high of $53.20. The business's 50-day moving average is $33.92 and its 200-day moving average is $35.80.

Devon Energy (NYSE:DVN - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, beating the consensus estimate 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 return on equity of 22.52% and a net margin of 18.14%. Equities research analysts predict that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $0.24 dividend. 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 dividend on an annualized basis and a dividend yield of 3.17%. Devon Energy's payout ratio is presently 21.05%.

Analyst Ratings Changes

Several brokerages have weighed in on DVN. Truist Financial raised their price objective on shares of Devon Energy from $42.00 to $44.00 and gave the stock a "hold" rating in a report on Thursday, February 20th. Mizuho decreased their target price on Devon Energy from $49.00 to $46.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Citigroup reduced their price objective on Devon Energy from $46.00 to $43.00 and set a "buy" rating on the stock in a research note on Friday, April 4th. Benchmark reiterated a "buy" rating and set a $44.00 target price on shares of Devon Energy in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. reduced their price target 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. Ten analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Devon Energy has a consensus rating of "Moderate Buy" and an average 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.