Devon Energy Co. (NYSE:DVN) Shares Sold by Sterling Capital Management LLC

Sterling Capital Management LLC cut its stake in Devon Energy Co. (NYSE:DVN - Free Report) by 40.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 144,203 shares of the energy company's stock after selling 97,467 shares during the quarter. Sterling Capital Management LLC's holdings in Devon Energy were worth $4,720,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of DVN. Quinn Opportunity Partners LLC raised its holdings in shares of Devon Energy by 150.0% in the fourth quarter. Quinn Opportunity Partners LLC now owns 50,000 shares of the energy company's stock worth $1,636,000 after buying an additional 30,000 shares during the period. Heritage Trust Co purchased a new stake in Devon Energy in the fourth quarter worth $1,839,000. Covestor Ltd boosted its stake in shares of Devon Energy by 15.9% during the fourth quarter. Covestor Ltd now owns 2,521 shares of the energy company's stock valued at $83,000 after purchasing an additional 345 shares during the period. Bessemer Group Inc. grew its holdings in shares of Devon Energy by 1.7% in the fourth quarter. Bessemer Group Inc. now owns 120,919 shares of the energy company's stock worth $3,957,000 after purchasing an additional 2,011 shares during the last quarter. Finally, Advisory Services Network LLC increased its stake in Devon Energy by 74.4% in the 4th quarter. Advisory Services Network LLC now owns 74,500 shares of the energy company's stock worth $2,438,000 after buying an additional 31,791 shares during the period. 69.72% of the stock is owned by hedge funds and other institutional investors.

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Devon Energy Stock Down 0.8 %

Shares of Devon Energy stock traded down $0.23 during trading on Tuesday, reaching $28.51. The company's stock had a trading volume of 12,106,461 shares, compared to its average volume of 8,412,600. The company has a 50-day simple moving average of $34.17 and a two-hundred day simple moving average of $36.00. Devon Energy Co. has a 1-year low of $25.89 and a 1-year high of $53.20. The company has a market cap of $18.50 billion, a price-to-earnings ratio of 6.25, a P/E/G ratio of 1.20 and a beta of 1.50. 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 analysts' consensus estimates of $1.00 by $0.16. The business had revenue of $4.40 billion for the quarter, compared to analyst estimates 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 forecast that Devon Energy Co. will post 4.85 earnings per share for the current year.

Devon Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders 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. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.96 dividend on an annualized basis and a yield of 3.37%. Devon Energy's dividend payout ratio is presently 21.05%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Devon Energy from $48.00 to $42.00 and set a "neutral" rating for the company in a research report on Thursday, March 13th. Wells Fargo & Company dropped their price objective on Devon Energy from $46.00 to $44.00 and set an "overweight" rating on the stock in a research note on Monday. Scotiabank decreased their target price on Devon Energy from $45.00 to $35.00 and set a "sector outperform" rating for the company in a research report on Friday. Royal Bank of Canada dropped their price target on Devon Energy from $49.00 to $40.00 and set a "sector perform" rating on the stock in a research report on Monday. Finally, Mizuho cut their price target on Devon Energy from $49.00 to $46.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Ten investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently 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.