Devon Energy Co. (NYSE:DVN) Stake Decreased by New York State Teachers Retirement System

New York State Teachers Retirement System decreased its stake in Devon Energy Co. (NYSE:DVN - Free Report) by 3.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 617,369 shares of the energy company's stock after selling 23,528 shares during the quarter. New York State Teachers Retirement System owned approximately 0.10% of Devon Energy worth $29,263,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in DVN. Vanguard Group Inc. raised its holdings in Devon Energy by 3.5% during the first quarter. Vanguard Group Inc. now owns 76,457,056 shares of the energy company's stock valued at $3,836,615,000 after acquiring an additional 2,559,039 shares during the period. Dimensional Fund Advisors LP boosted its stake in Devon Energy by 26.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 7,077,042 shares of the energy company's stock valued at $320,609,000 after buying an additional 1,488,374 shares during the last quarter. Raymond James & Associates grew its holdings in Devon Energy by 8.9% during the 1st quarter. Raymond James & Associates now owns 9,044,859 shares of the energy company's stock valued at $453,871,000 after buying an additional 736,449 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in Devon Energy by 467.1% in the 1st quarter. Canada Pension Plan Investment Board now owns 719,672 shares of the energy company's stock worth $36,113,000 after acquiring an additional 592,765 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of Devon Energy by 63.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 1,420,702 shares of the energy company's stock worth $71,291,000 after acquiring an additional 551,004 shares in the last quarter. Institutional investors own 69.72% of the company's stock.

Wall Street Analysts Forecast Growth

DVN has been the topic of several recent research reports. Susquehanna restated a "positive" rating and set a $65.00 target price on shares of Devon Energy in a research report on Tuesday, July 9th. Wolfe Research began coverage on shares of Devon Energy in a research report on Thursday, July 18th. They issued a "peer perform" rating on the stock. Royal Bank of Canada restated a "sector perform" rating and set a $57.00 price objective on shares of Devon Energy in a report on Tuesday, July 9th. Wells Fargo & Company reduced their target price on Devon Energy from $57.00 to $55.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 14th. Finally, Piper Sandler decreased their target price on Devon Energy from $65.00 to $57.00 and set an "overweight" rating for the company in a research report on Thursday, August 15th. Five analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $58.75.

Devon Energy Price Performance

Shares of NYSE:DVN traded up $1.03 during trading on Friday, reaching $44.70. The stock had a trading volume of 4,314,258 shares, compared to its average volume of 7,167,934. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.97 and a current ratio of 1.04. The business has a fifty day moving average price of $45.94 and a 200-day moving average price of $47.43. The stock has a market cap of $28.25 billion, a PE ratio of 8.53, a PEG ratio of 0.75 and a beta of 2.07. Devon Energy Co. has a 1-year low of $40.47 and a 1-year high of $55.09.

Devon Energy (NYSE:DVN - Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The energy company reported $1.41 EPS for the quarter, topping analysts' consensus estimates of $1.26 by $0.15. Devon Energy had a return on equity of 29.02% and a net margin of 22.27%. The firm had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $3.90 billion. During the same quarter last year, the business posted $1.18 earnings per share. The firm's revenue was up 13.4% compared to the same quarter last year. On average, equities analysts forecast that Devon Energy Co. will post 5.4 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be given a dividend of $0.22 per share. The ex-dividend date is Friday, September 13th. This represents a $0.88 dividend on an annualized basis and a yield of 1.97%. Devon Energy's payout ratio is 16.79%.

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.