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

Xponance Inc. boosted its position in shares of Devon Energy Co. (NYSE:DVN) by 20.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 123,997 shares of the energy company’s stock after acquiring an additional 21,410 shares during the period. Xponance Inc.’s holdings in Devon Energy were worth $5,617,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DVN. Pacer Advisors Inc. grew its position in Devon Energy by 1,279.7% during the fourth quarter. Pacer Advisors Inc. now owns 6,145,605 shares of the energy company’s stock valued at $278,396,000 after buying an additional 5,700,167 shares during the period. T. Rowe Price Investment Management Inc. grew its position in Devon Energy by 96.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,608,577 shares of the energy company’s stock valued at $344,984,000 after buying an additional 2,752,752 shares during the period. J.P. Morgan Private Wealth Advisors LLC acquired a new stake in shares of Devon Energy in the third quarter valued at about $113,793,000. Morgan Stanley grew its position in shares of Devon Energy by 23.6% in the third quarter. Morgan Stanley now owns 11,647,104 shares of the energy company’s stock valued at $555,567,000 after purchasing an additional 2,220,194 shares during the period. Finally, International Assets Investment Management LLC grew its position in shares of Devon Energy by 3,885.4% in the fourth quarter. International Assets Investment Management LLC now owns 1,695,206 shares of the energy company’s stock valued at $76,793,000 after purchasing an additional 1,652,671 shares during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Price Performance

Devon Energy stock opened at $51.85 on Friday. The company’s 50 day simple moving average is $47.89 and its 200-day simple moving average is $45.90. The company has a market capitalization of $32.92 billion, a price-to-earnings ratio of 8.89 and a beta of 2.19. Devon Energy Co. has a 1 year low of $40.47 and a 1 year high of $55.09. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.99 and a current ratio of 1.07.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, February 27th. The energy company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.02. The business had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $3.88 billion. Devon Energy had a net margin of 24.56% and a return on equity of 31.72%. The business’s revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.66 EPS. As a group, equities research analysts expect that Devon Energy Co. will post 5.14 earnings per share for the current year.

Devon Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date of this dividend was Thursday, March 14th. Devon Energy’s dividend payout ratio (DPR) is currently 15.09%.

Analyst Ratings Changes

DVN has been the topic of several research analyst reports. Barclays began coverage on shares of Devon Energy in a research report on Wednesday, April 10th. They issued an “equal weight” rating and a $59.00 target price on the stock. Wells Fargo & Company upgraded shares of Devon Energy from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $46.00 to $59.00 in a research report on Monday, April 1st. Raymond James lowered their price target on shares of Devon Energy from $53.00 to $52.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 24th. Royal Bank of Canada restated a “sector perform” rating and set a $55.00 price target on shares of Devon Energy in a research report on Thursday, March 7th. Finally, Stifel Nicolaus lowered their price target on shares of Devon Energy from $75.00 to $65.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $57.94.

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.