Renaissance Technologies LLC reduced its holdings in Devon Energy Co. (NYSE:DVN - Free Report) by 80.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 131,634 shares of the energy company's stock after selling 532,962 shares during the quarter. Renaissance Technologies LLC's holdings in Devon Energy were worth $4,308,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Devon Energy by 7.3% in the 4th quarter. Vanguard Group Inc. now owns 80,682,170 shares of the energy company's stock worth $2,640,727,000 after buying an additional 5,465,692 shares in the last quarter. Geode Capital Management LLC lifted 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 worth $552,830,000 after purchasing an additional 1,038,305 shares during the period. Victory Capital Management Inc. lifted its position in Devon Energy by 2.3% during the fourth quarter. Victory Capital Management Inc. now owns 10,203,812 shares of the energy company's stock worth $333,971,000 after buying an additional 232,469 shares during the period. Invesco Ltd. increased its position in Devon Energy by 32.8% during the fourth quarter. Invesco Ltd. now owns 9,461,719 shares of the energy company's stock worth $309,682,000 after purchasing an additional 2,335,473 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its position in shares of Devon Energy by 10.8% in the 4th quarter. Thrivent Financial for Lutherans now owns 5,694,373 shares of the energy company's stock worth $186,714,000 after buying an additional 554,219 shares during the period. 69.72% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several brokerages have commented on DVN. JPMorgan Chase & Co. dropped their price target on Devon Energy from $48.00 to $42.00 and set a "neutral" rating for the company in a research note on Thursday, March 13th. Wells Fargo & Company cut their price target on shares of Devon Energy from $46.00 to $44.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. StockNews.com upgraded shares of Devon Energy from a "sell" rating to a "hold" rating in a research note on Friday, January 3rd. Williams Trading set a $50.00 target price on shares of Devon Energy in a research note on Wednesday, March 5th. Finally, Benchmark reiterated a "buy" rating and issued a $44.00 price target on shares of Devon Energy in a report on Thursday, February 20th. Ten analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $45.71.
Read Our Latest Stock Analysis on DVN
Devon Energy Stock Performance
Shares of NYSE DVN traded down $0.12 during mid-day trading on Wednesday, hitting $31.08. The company had a trading volume of 9,337,291 shares, compared to its average volume of 8,496,762. 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 $25.89 and a 12 month high of $53.20. The firm's 50 day simple moving average is $33.77 and its two-hundred day simple moving average is $35.63. The stock has a market cap of $20.17 billion, a price-to-earnings ratio of 6.82, a PEG ratio of 1.20 and a beta of 1.50.
Devon Energy (NYSE:DVN - Get Free Report) last posted its 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 firm had revenue of $4.40 billion for the quarter, compared to analysts' expectations of $4.25 billion. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. As a group, equities research analysts forecast that Devon Energy Co. will post 4.85 earnings per share for the current year.
Devon Energy Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 3.09%. This is an increase from Devon Energy's previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, March 14th. Devon Energy's dividend payout ratio is 21.05%.
About Devon Energy
(
Free Report)
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.
Featured Stories
Before you consider Devon Energy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Devon Energy wasn't on the list.
While Devon Energy currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
