Devon Energy Co. (NYSE:DVN) Shares Sold by Xponance Inc.

Xponance Inc. lessened its holdings in Devon Energy Co. (NYSE:DVN - Free Report) by 35.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 82,808 shares of the energy company's stock after selling 44,561 shares during the quarter. Xponance Inc.'s holdings in Devon Energy were worth $2,710,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Legacy Investment Solutions LLC purchased a new position in shares of Devon Energy during the third quarter worth $8,002,000. Bridgewater Associates LP acquired a new stake in Devon Energy during the 3rd quarter worth about $9,426,000. Petrus Trust Company LTA raised its stake in shares of Devon Energy by 394.7% during the 3rd quarter. Petrus Trust Company LTA now owns 21,827 shares of the energy company's stock valued at $854,000 after buying an additional 17,415 shares during the last quarter. Klein Pavlis & Peasley Financial Inc. acquired a new position in shares of Devon Energy in the 4th quarter valued at about $782,000. Finally, Fortem Financial Group LLC purchased a new stake in shares of Devon Energy in the third quarter worth about $583,000. 69.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on DVN. Morgan Stanley set a $47.00 price target on Devon Energy and gave the company an "overweight" rating in a report on Wednesday. Susquehanna increased their price target on shares of Devon Energy from $50.00 to $52.00 and gave the stock a "positive" rating in a report on Thursday, February 20th. Sanford C. Bernstein upgraded shares of Devon Energy from a "market perform" rating to an "outperform" rating and set a $45.00 price target on the stock in a research report on Wednesday, January 15th. Barclays increased their target price on shares of Devon Energy from $43.00 to $44.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 20th. Finally, Wolfe Research raised Devon Energy from a "peer perform" rating to an "outperform" rating and set a $45.00 price target for the company in a report on Friday, January 3rd. Ten equities 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 company currently has an average rating of "Moderate Buy" and an average price target of $48.29.

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Devon Energy Price Performance

DVN traded up $0.48 during trading on Wednesday, reaching $37.45. 7,503,272 shares of the stock were exchanged, compared to its average volume of 7,841,726. Devon Energy Co. has a 1 year low of $30.39 and a 1 year high of $55.09. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01. The business's 50 day moving average price is $35.46 and its two-hundred day moving average price is $36.92. The company has a market capitalization of $24.31 billion, a price-to-earnings ratio of 8.21, a P/E/G ratio of 1.20 and a beta of 1.91.

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

Devon Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid 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 yield of 2.56%. The ex-dividend date of this dividend is Friday, March 14th. Devon Energy's dividend payout ratio is presently 21.05%.

About Devon Energy

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.