Devon Energy Co. (NYSE:DVN) Shares Acquired by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. grew its stake in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 45.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 437,397 shares of the energy company's stock after purchasing an additional 137,599 shares during the period. Rockefeller Capital Management L.P. owned about 0.07% of Devon Energy worth $14,323,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of DVN. Hurley Capital LLC purchased a new stake in Devon Energy in the 4th quarter valued at about $26,000. Cromwell Holdings LLC increased its position in shares of Devon Energy by 98.0% during the fourth quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company's stock valued at $40,000 after acquiring an additional 598 shares during the last quarter. Sierra Ocean LLC bought a new stake in Devon Energy during the fourth quarter worth $43,000. Endeavor Private Wealth Inc. purchased a new position in Devon Energy in the fourth quarter worth $52,000. Finally, Thompson Investment Management Inc. increased its position in shares of Devon Energy by 60.0% during the 4th quarter. Thompson Investment Management Inc. now owns 1,600 shares of the energy company's stock valued at $52,000 after purchasing an additional 600 shares during the last quarter. 69.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DVN has been the topic of a number of research analyst reports. Williams Trading set a $50.00 price target on shares of Devon Energy in a report on Wednesday, March 5th. Benchmark reissued a "buy" rating and set a $44.00 target price on shares of Devon Energy in a research report on Thursday, February 20th. Wolfe Research upgraded shares of Devon Energy from a "peer perform" rating to an "outperform" rating and set a $45.00 price target for the company in a research note on Friday, January 3rd. Wells Fargo & Company reduced their price objective on Devon Energy from $46.00 to $44.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Finally, Raymond James lowered their target price on Devon Energy from $54.00 to $46.00 and set an "outperform" rating on the stock in a research note on Monday, March 10th. Ten investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $46.71.

Devon Energy Price Performance

NYSE DVN traded up $0.99 on Friday, reaching $30.29. The company had a trading volume of 10,348,261 shares, compared to its average volume of 8,456,363. The stock has a market capitalization of $19.66 billion, a PE ratio of 6.64, a price-to-earnings-growth ratio of 1.20 and a beta of 1.50. Devon Energy Co. has a 12 month low of $25.89 and a 12 month high of $53.20. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. The firm's 50 day moving average price is $33.92 and its 200 day moving average price is $35.83.

Devon Energy (NYSE:DVN - Get Free Report) last issued its earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share (EPS) for the quarter, topping 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 analysts predict that Devon Energy Co. will post 4.85 earnings per share for the current year.

Devon Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a dividend of $0.24 per share. 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%. The ex-dividend date of this dividend was Friday, March 14th. Devon Energy's dividend payout ratio (DPR) is currently 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.