US Bancorp DE lessened its holdings in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 13.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 110,739 shares of the energy company's stock after selling 17,101 shares during the period. US Bancorp DE's holdings in Devon Energy were worth $3,624,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. SVB Wealth LLC purchased a new stake in Devon Energy in the fourth quarter worth $256,000. Mutual of America Capital Management LLC increased its stake in Devon Energy by 9.0% in the 4th quarter. Mutual of America Capital Management LLC now owns 201,918 shares of the energy company's stock worth $6,609,000 after buying an additional 16,601 shares during the period. Altrius Capital Management Inc bought a new stake in Devon Energy during the 4th quarter valued at about $3,860,000. Parkside Financial Bank & Trust boosted its position in Devon Energy by 14.8% in the 4th quarter. Parkside Financial Bank & Trust now owns 3,130 shares of the energy company's stock valued at $102,000 after buying an additional 404 shares during the period. Finally, QRG Capital Management Inc. grew its stake in Devon Energy by 291.7% in the 4th quarter. QRG Capital Management Inc. now owns 92,098 shares of the energy company's stock worth $3,014,000 after acquiring an additional 68,583 shares in the last quarter. Institutional investors own 69.72% of the company's stock.
Analyst Upgrades and Downgrades
DVN has been the subject of a number of research reports. Cowen lowered Devon Energy to a "hold" rating and lowered their price target for the company from $46.00 to $45.00 in a report on Tuesday, February 18th. Wolfe Research upgraded 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. Benchmark reissued a "buy" rating and set a $44.00 price target on shares of Devon Energy in a research report on Thursday, February 20th. Sanford C. Bernstein raised shares of Devon Energy from a "market perform" rating to an "outperform" rating and set a $45.00 price objective for the company in a research note on Wednesday, January 15th. Finally, Mizuho dropped their target price on shares of Devon Energy from $51.00 to $47.00 and set an "outperform" rating on the stock in a report on Monday, December 16th. Ten research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $48.87.
Read Our Latest Stock Report on DVN
Devon Energy Stock Up 2.6 %
Shares of NYSE:DVN traded up $0.87 during trading on Friday, reaching $34.74. The stock had a trading volume of 10,538,173 shares, compared to its average volume of 7,836,977. The company has a market capitalization of $22.54 billion, a P/E ratio of 7.62, a PEG 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 firm's 50-day simple moving average is $35.17 and its 200 day simple moving average is $37.79. Devon Energy Co. has a one year low of $30.39 and a one year high of $55.09.
Devon Energy (NYSE:DVN - Get Free Report) last announced its quarterly earnings data 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 during 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%. As a group, research analysts expect that Devon Energy Co. will post 4.85 EPS for the current fiscal year.
Devon Energy Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a $0.24 dividend. This is a positive change from Devon Energy's previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 2.76%. The ex-dividend date is Friday, March 14th. Devon Energy's dividend payout ratio (DPR) is presently 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.
See Also
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
Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Enter your email address to learn more about using beta to protect your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
