Virtu Financial LLC Reduces Position in Devon Energy Co. (NYSE:DVN)

Virtu Financial LLC cut its stake in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 59.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 76,619 shares of the energy company's stock after selling 114,274 shares during the quarter. Virtu Financial LLC's holdings in Devon Energy were worth $2,508,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Cromwell Holdings LLC raised its stake in shares of Devon Energy by 98.0% during the fourth quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company's stock worth $40,000 after acquiring an additional 598 shares in the last quarter. Sierra Ocean LLC purchased a new position in Devon Energy in the 4th quarter worth $43,000. True Wealth Design LLC lifted its stake in Devon Energy by 3,889.3% in the third quarter. True Wealth Design LLC now owns 1,117 shares of the energy company's stock worth $44,000 after purchasing an additional 1,089 shares during the last quarter. Endeavor Private Wealth Inc. purchased a new stake in Devon Energy during the fourth quarter valued at about $52,000. Finally, Thompson Investment Management Inc. grew its stake in shares of Devon Energy by 60.0% during the fourth quarter. Thompson Investment Management Inc. now owns 1,600 shares of the energy company's stock valued at $52,000 after buying an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 69.72% of the company's stock.

Analysts Set New Price Targets

DVN has been the subject of several analyst reports. Raymond James dropped their target price on Devon Energy from $54.00 to $46.00 and set an "outperform" rating for the company in a report on Monday, March 10th. Wolfe Research upgraded shares of Devon Energy from a "peer perform" rating to an "outperform" rating and set a $45.00 target price on the stock in a report on Friday, January 3rd. Cowen lowered shares of 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. Wells Fargo & Company cut their price target on shares of Devon Energy from $49.00 to $43.00 and set an "overweight" rating on the stock in a report on Tuesday, December 17th. Finally, StockNews.com raised shares of Devon Energy from a "sell" rating to a "hold" rating in a research note on Friday, January 3rd. Ten equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Devon Energy presently has a consensus rating of "Moderate Buy" and an average price target of $48.29.

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Devon Energy Stock Down 1.4 %

Shares of Devon Energy stock traded down $0.52 during midday trading on Thursday, hitting $36.95. The company had a trading volume of 5,117,431 shares, compared to its average volume of 7,839,551. The company has a 50 day moving average of $35.44 and a 200 day moving average of $36.92. The stock has a market capitalization of $23.98 billion, a P/E ratio of 8.10, a P/E/G ratio of 1.20 and a beta of 1.91. Devon Energy Co. has a 52-week low of $30.39 and a 52-week high of $55.09. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.04.

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, beating the consensus estimate of $1.00 by $0.16. The firm had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.25 billion. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. On average, equities analysts predict that Devon Energy Co. will post 4.85 earnings per share for the current fiscal year.

Devon Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a $0.24 dividend. The ex-dividend date is Friday, March 14th. This is a boost from Devon Energy's previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a yield of 2.60%. Devon Energy's payout ratio is 21.05%.

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.