Devon Energy Co. (NYSE:DVN) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its stake in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 3.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,971,343 shares of the energy company's stock after buying an additional 361,968 shares during the quarter. Victory Capital Management Inc. owned 1.59% of Devon Energy worth $390,079,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Devon Energy by 3.5% during the first quarter. Vanguard Group Inc. now owns 76,457,056 shares of the energy company's stock worth $3,836,615,000 after purchasing an additional 2,559,039 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Devon Energy by 4,125.7% during the third quarter. International Assets Investment Management LLC now owns 2,280,961 shares of the energy company's stock worth $89,231,000 after purchasing an additional 2,226,983 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Devon Energy by 16.8% during the second quarter. Pacer Advisors Inc. now owns 9,913,516 shares of the energy company's stock worth $469,901,000 after purchasing an additional 1,428,776 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in shares of Devon Energy by 7,165.6% during the second quarter. Los Angeles Capital Management LLC now owns 1,376,253 shares of the energy company's stock worth $65,234,000 after purchasing an additional 1,357,311 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Devon Energy by 16.7% in the second quarter. Dimensional Fund Advisors LP now owns 8,793,217 shares of the energy company's stock valued at $416,779,000 after acquiring an additional 1,255,543 shares in the last quarter. Hedge funds and other institutional investors own 69.72% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on DVN shares. Morgan Stanley reduced their target price on shares of Devon Energy from $55.00 to $51.00 and set an "overweight" rating on the stock in a report on Monday, September 16th. BMO Capital Markets reduced their target price on shares of Devon Energy from $52.00 to $48.00 and set an "outperform" rating on the stock in a report on Friday, October 4th. UBS Group dropped their price target on shares of Devon Energy from $53.00 to $47.00 and set a "neutral" rating on the stock in a research note on Wednesday, September 18th. StockNews.com lowered shares of Devon Energy from a "hold" rating to a "sell" rating in a research note on Thursday, November 7th. Finally, Raymond James dropped their price target on shares of Devon Energy from $58.00 to $51.00 in a research note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $51.80.

Devon Energy Price Performance

Devon Energy stock traded down $0.63 during midday trading on Tuesday, reaching $38.33. The company's stock had a trading volume of 8,051,345 shares, compared to its average volume of 7,441,273. Devon Energy Co. has a fifty-two week low of $37.76 and a fifty-two week high of $55.09. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.03 and a current ratio of 1.11. The stock's 50 day simple moving average is $40.36 and its 200 day simple moving average is $44.69. The firm has a market capitalization of $25.18 billion, a PE ratio of 7.23, a P/E/G ratio of 1.21 and a beta of 2.03.

Devon Energy (NYSE:DVN - Get Free Report) last released its earnings results on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, beating analysts' consensus estimates of $1.09 by $0.01. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The company had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter last year, the company earned $1.65 earnings per share. Devon Energy's quarterly revenue was up 4.9% compared to the same quarter last year. On average, equities research analysts forecast that Devon Energy Co. will post 4.89 earnings per share for the current year.

Devon Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend is Friday, December 13th. Devon Energy's dividend payout ratio (DPR) is presently 16.33%.

Devon Energy Company 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.