Vontobel Holding Ltd. Buys 23,759 Shares of Devon Energy Co. (NYSE:DVN)

Vontobel Holding Ltd. raised its stake in Devon Energy Co. (NYSE:DVN - Free Report) by 225.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 34,295 shares of the energy company's stock after buying an additional 23,759 shares during the quarter. Vontobel Holding Ltd.'s holdings in Devon Energy were worth $1,122,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DVN. Capital Performance Advisors LLP bought a new stake in shares of Devon Energy during the 3rd quarter worth about $35,000. True Wealth Design LLC lifted its holdings in Devon Energy by 3,889.3% in the 3rd 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. Hazlett Burt & Watson Inc. boosted its position in Devon Energy by 29.8% during the third quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company's stock worth $49,000 after purchasing an additional 290 shares during the period. Activest Wealth Management grew its holdings in Devon Energy by 60.4% during the third quarter. Activest Wealth Management now owns 1,275 shares of the energy company's stock valued at $50,000 after purchasing an additional 480 shares during the last quarter. Finally, Endeavor Private Wealth Inc. bought a new position in shares of Devon Energy in the fourth quarter valued at approximately $52,000. Hedge funds and other institutional investors own 69.72% of the company's stock.

Devon Energy Price Performance

Shares of DVN traded down $1.07 during trading hours on Friday, hitting $37.49. 11,529,230 shares of the company were exchanged, compared to its average volume of 9,783,587. The company has a market cap of $24.62 billion, a price-to-earnings ratio of 8.22, a P/E/G ratio of 1.17 and a beta of 1.98. The firm's fifty day moving average is $34.40 and its 200 day moving average is $38.40. Devon Energy Co. has a fifty-two week low of $30.39 and a fifty-two week high of $55.09. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.57.

Devon Energy (NYSE:DVN - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.16 earnings per share (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 the consensus estimate of $4.25 billion. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. On average, equities analysts anticipate that Devon Energy Co. will post 4.85 earnings per share for the current fiscal year.

Devon Energy Increases Dividend

The firm also recently announced 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. 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 2.56%. Devon Energy's dividend payout ratio is presently 21.05%.

Analyst Ratings Changes

Several research firms recently issued reports on DVN. Citigroup decreased their price objective on shares of Devon Energy from $55.00 to $48.00 and set a "buy" rating for the company in a report on Tuesday, November 26th. Wolfe Research raised Devon Energy from a "peer perform" rating to an "outperform" rating and set a $45.00 price objective for the company in a research report on Friday, January 3rd. TD Cowen lowered their target price on Devon Energy from $54.00 to $46.00 and set a "hold" rating on the stock in a report on Tuesday, November 5th. Barclays increased their price objective on Devon Energy from $43.00 to $44.00 and gave the company an "equal weight" rating in a research report on Thursday. Finally, Wells Fargo & Company decreased their price target 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. Ten research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $48.83.

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.