Devon Energy Corp (DVN) Position Boosted by Strs Ohio

Strs Ohio boosted its position in Devon Energy Corp (NYSE:DVN) by 13.5% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 6,872 shares of the energy company’s stock after purchasing an additional 818 shares during the period. Strs Ohio’s holdings in Devon Energy were worth $216,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Winslow Evans & Crocker Inc. acquired a new position in shares of Devon Energy during the fourth quarter valued at about $26,000. Lindbrook Capital LLC acquired a new position in shares of Devon Energy during the fourth quarter valued at about $26,000. Meeder Asset Management Inc. raised its holdings in shares of Devon Energy by 94.6% during the first quarter. Meeder Asset Management Inc. now owns 823 shares of the energy company’s stock valued at $26,000 after purchasing an additional 400 shares during the period. Duncker Streett & Co. Inc. raised its holdings in shares of Devon Energy by 40.5% during the fourth quarter. Duncker Streett & Co. Inc. now owns 1,600 shares of the energy company’s stock valued at $36,000 after purchasing an additional 461 shares during the period. Finally, Lavaca Capital LLC raised its holdings in shares of Devon Energy by 566.0% during the first quarter. Lavaca Capital LLC now owns 1,332 shares of the energy company’s stock valued at $42,000 after purchasing an additional 1,132 shares during the period. Institutional investors and hedge funds own 92.12% of the company’s stock.

In other news, Director Robert H. Henry acquired 11,651 shares of Devon Energy stock in a transaction on Wednesday, February 27th. The stock was acquired at an average cost of $30.01 per share, with a total value of $349,646.51. Following the transaction, the director now owns 21,355 shares of the company’s stock, valued at approximately $640,863.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.55% of the company’s stock.

Several equities analysts have recently weighed in on DVN shares. ValuEngine upgraded shares of Devon Energy from a “sell” rating to a “hold” rating in a report on Friday, February 22nd. Zacks Investment Research upgraded shares of Devon Energy from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a report on Monday, April 1st. Barclays lowered shares of Devon Energy from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $42.00 to $33.00 in a report on Wednesday, January 16th. Royal Bank of Canada downgraded shares of Devon Energy from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $39.00 to $38.00 in a research report on Friday, March 1st. Finally, TheStreet raised shares of Devon Energy from a “d+” rating to a “c+” rating in a research report on Tuesday, February 19th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $45.29.

Shares of NYSE:DVN traded down $0.74 during midday trading on Monday, hitting $30.57. 35,622 shares of the company’s stock were exchanged, compared to its average volume of 7,001,236. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.37 and a quick ratio of 1.37. The company has a market cap of $12.98 billion, a PE ratio of 23.90, a PEG ratio of 0.87 and a beta of 2.23. Devon Energy Corp has a 12 month low of $20.37 and a 12 month high of $46.54.

Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, April 30th. The energy company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.30 by $0.06. Devon Energy had a net margin of 29.33% and a return on equity of 7.12%. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the previous year, the firm posted $0.20 earnings per share. On average, equities research analysts expect that Devon Energy Corp will post 2.17 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.18%. This is an increase from Devon Energy’s previous quarterly dividend of $0.08. The ex-dividend date is Thursday, June 13th. Devon Energy’s dividend payout ratio is presently 24.81%.

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Devon Energy Profile

Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States and Canada. It operates approximately 12,900 gross wells. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.

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Institutional Ownership by Quarter for Devon Energy (NYSE:DVN)

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