OVERSEA CHINESE BANKING Corp Ltd Has $871,000 Stock Position in Devon Energy Co. (NYSE:DVN)

OVERSEA CHINESE BANKING Corp Ltd lifted its position in Devon Energy Co. (NYSE:DVN - Free Report) by 217.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 27,931 shares of the energy company's stock after buying an additional 19,142 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd's holdings in Devon Energy were worth $871,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Intech Investment Management LLC raised its holdings in Devon Energy by 6.0% during the fourth quarter. Intech Investment Management LLC now owns 16,213 shares of the energy company's stock valued at $531,000 after buying an additional 915 shares in the last quarter. Horizon Investments LLC boosted its holdings in shares of Devon Energy by 4.1% during the 4th quarter. Horizon Investments LLC now owns 8,843 shares of the energy company's stock worth $289,000 after buying an additional 347 shares during the period. Advisors Asset Management Inc. grew its stake in Devon Energy by 7.3% in the 4th quarter. Advisors Asset Management Inc. now owns 139,708 shares of the energy company's stock valued at $4,573,000 after buying an additional 9,510 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in Devon Energy by 10.8% during the 4th quarter. Thrivent Financial for Lutherans now owns 5,694,373 shares of the energy company's stock worth $186,714,000 after acquiring an additional 554,219 shares during the last quarter. Finally, Tejara Capital Ltd acquired a new stake in shares of Devon Energy in the fourth quarter valued at about $1,067,000. Institutional investors and hedge funds own 69.72% of the company's stock.

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Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Royal Bank of Canada restated a "sector perform" rating and set a $50.00 price objective on shares of Devon Energy in a report on Friday, January 10th. Sanford C. Bernstein raised Devon Energy from a "market perform" rating to an "outperform" rating and set a $45.00 price target for the company in a report on Wednesday, January 15th. JPMorgan Chase & Co. decreased their price objective on shares of Devon Energy from $48.00 to $42.00 and set a "neutral" rating on the stock in a report on Thursday, March 13th. Benchmark reissued a "buy" rating and issued a $44.00 price target on shares of Devon Energy in a report on Thursday, February 20th. Finally, Williams Trading set a $50.00 target price on shares of Devon Energy in a research note on Wednesday, March 5th. Ten research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Devon Energy currently has an average rating of "Moderate Buy" and a consensus target price of $48.46.

Devon Energy Stock Up 2.3 %

Shares of NYSE:DVN traded up $0.82 during mid-day trading on Monday, reaching $36.97. 5,721,024 shares of the stock were exchanged, compared to its average volume of 7,846,368. The stock's 50 day simple moving average is $35.46 and its 200-day simple moving average is $36.98. Devon Energy Co. has a one year low of $30.39 and a one year high of $55.09. The company has a market cap of $24.00 billion, a P/E ratio of 8.11, a P/E/G ratio of 1.20 and a beta of 1.91. 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 issued its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.16. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The company had revenue of $4.40 billion during the quarter, compared to analysts' expectations of $4.25 billion. As a group, 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 declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Devon Energy's previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a yield of 2.60%. Devon Energy's payout ratio is 21.05%.

Devon Energy 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.