Devon Energy Co. (NYSE:DVN) Stock Holdings Decreased by Teacher Retirement System of Texas

Teacher Retirement System of Texas trimmed its holdings in Devon Energy Co. (NYSE:DVN - Free Report) by 23.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 924,636 shares of the energy company's stock after selling 275,436 shares during the period. Teacher Retirement System of Texas owned 0.14% of Devon Energy worth $30,263,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in DVN. Geode Capital Management LLC raised its position in shares of Devon Energy by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 15,892,970 shares of the energy company's stock worth $619,747,000 after purchasing an additional 206,884 shares during the last quarter. EnCap Energy Capital Fund XI L.P. acquired a new position in shares of Devon Energy in the third quarter worth $461,857,000. Pacer Advisors Inc. lifted its position in shares of Devon Energy by 16.9% in the third quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company's stock valued at $453,446,000 after acquiring an additional 1,677,652 shares in the last quarter. EnCap Partners GP LLC acquired a new stake in shares of Devon Energy during the third quarter valued at $408,653,000. Finally, Victory Capital Management Inc. increased its position in Devon Energy by 2.3% during the 4th quarter. Victory Capital Management Inc. now owns 10,203,812 shares of the energy company's stock worth $333,971,000 after purchasing an additional 232,469 shares in the last quarter. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Citigroup decreased their price target on shares of Devon Energy from $48.00 to $46.00 and set a "buy" rating on the stock in a research note on Monday, March 17th. Wells Fargo & Company decreased their target price on shares of Devon Energy from $49.00 to $43.00 and set an "overweight" rating on the stock in a research report on Tuesday, December 17th. Piper Sandler boosted their price target on Devon Energy from $54.00 to $55.00 and gave the company an "overweight" rating in a report on Monday, February 24th. StockNews.com upgraded Devon Energy from a "sell" rating to a "hold" rating in a report on Friday, January 3rd. Finally, Cowen lowered Devon Energy to a "hold" rating and dropped their target price for the company from $46.00 to $45.00 in a research note on Tuesday, February 18th. Ten equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Devon Energy currently has an average rating of "Moderate Buy" and an average target price of $48.46.

Devon Energy Price Performance

Shares of DVN remained flat at $36.96 during mid-day trading on Tuesday. 5,932,880 shares of the stock were exchanged, compared to its average volume of 7,845,709. The stock has a market cap of $23.99 billion, a price-to-earnings ratio of 8.11, a price-to-earnings-growth ratio of 1.20 and a beta of 1.91. The firm has a 50-day moving average of $35.46 and a two-hundred day moving average of $36.95. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57. Devon Energy Co. has a 12 month low of $30.39 and a 12 month high of $55.09.

Devon Energy (NYSE:DVN - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, topping analysts' consensus estimates of $1.00 by $0.16. The firm had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.25 billion. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. On average, equities research analysts expect that Devon Energy Co. will post 4.85 earnings per share for the current fiscal year.

Devon Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Devon Energy's previous quarterly dividend of $0.22. Devon Energy's dividend payout ratio (DPR) 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.