Thrivent Financial for Lutherans Increases Holdings in Devon Energy Co. (NYSE:DVN)

Thrivent Financial for Lutherans boosted its stake in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 10.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,694,373 shares of the energy company's stock after buying an additional 554,219 shares during the period. Thrivent Financial for Lutherans owned approximately 0.87% of Devon Energy worth $186,714,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DVN. Cromwell Holdings LLC increased its position in Devon Energy by 98.0% during the 4th quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company's stock valued at $40,000 after buying an additional 598 shares in the last quarter. Sierra Ocean LLC bought a new position in Devon Energy during the 4th quarter valued at approximately $43,000. True Wealth Design LLC increased its position in Devon Energy by 3,889.3% during the 3rd quarter. True Wealth Design LLC now owns 1,117 shares of the energy company's stock valued at $44,000 after buying an additional 1,089 shares in the last quarter. Activest Wealth Management increased its position in Devon Energy by 60.4% during the 3rd quarter. Activest Wealth Management now owns 1,275 shares of the energy company's stock valued at $50,000 after buying an additional 480 shares in the last quarter. Finally, Endeavor Private Wealth Inc. bought a new position in Devon Energy during the 4th quarter valued at approximately $52,000. Institutional investors own 69.72% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on DVN. Wells Fargo & Company reduced their target price on Devon Energy from $49.00 to $43.00 and set an "overweight" rating for the company in a report on Tuesday, December 17th. Williams Trading set a $50.00 target price on Devon Energy in a report on Wednesday, March 5th. Royal Bank of Canada reissued a "sector perform" rating and issued a $50.00 target price on shares of Devon Energy in a report on Friday, January 10th. Wolfe Research raised Devon Energy from a "peer perform" rating to an "outperform" rating and set a $45.00 target price for the company in a report on Friday, January 3rd. Finally, Mizuho reduced their target price on Devon Energy from $51.00 to $47.00 and set an "outperform" rating for the company in a report on Monday, December 16th. Ten investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $48.46.

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Devon Energy Stock Performance

NYSE DVN traded up $0.05 on Friday, hitting $36.18. 12,727,559 shares of the company traded hands, compared to its average volume of 7,842,045. The company has a market capitalization of $23.48 billion, a price-to-earnings ratio of 7.93, a P/E/G ratio of 1.20 and a beta of 1.91. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57. The business's 50 day moving average price is $35.46 and its 200-day moving average price is $37.06. Devon Energy Co. has a 52-week low of $30.39 and a 52-week high of $55.09.

Devon Energy (NYSE:DVN - Get Free Report) last released its earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.16. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. The company had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.25 billion. Equities analysts expect that Devon Energy Co. will post 4.85 earnings per share for the current year.

Devon Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.65%. This is an increase from Devon Energy's previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, March 14th. Devon Energy's payout ratio is presently 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.