Tokio Marine Asset Management Co. Ltd. Has $800,000 Stock Holdings in Devon Energy Co. (NYSE:DVN)

Tokio Marine Asset Management Co. Ltd. raised its stake in Devon Energy Co. (NYSE:DVN) by 7.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,663 shares of the energy company’s stock after acquiring an additional 1,229 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Devon Energy were worth $800,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Morgan Stanley raised its holdings in shares of Devon Energy by 23.6% during the 3rd quarter. Morgan Stanley now owns 11,647,104 shares of the energy company’s stock worth $555,567,000 after buying an additional 2,220,194 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Devon Energy by 5.1% during the 3rd quarter. Victory Capital Management Inc. now owns 8,470,996 shares of the energy company’s stock worth $404,067,000 after buying an additional 411,777 shares in the last quarter. Raymond James & Associates raised its holdings in shares of Devon Energy by 5.0% during the 3rd quarter. Raymond James & Associates now owns 8,429,670 shares of the energy company’s stock worth $402,095,000 after buying an additional 402,055 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Devon Energy by 1.2% during the 3rd quarter. Northern Trust Corp now owns 6,774,537 shares of the energy company’s stock worth $323,145,000 after buying an additional 82,607 shares in the last quarter. Finally, Pacer Advisors Inc. raised its holdings in shares of Devon Energy by 1,279.7% during the 4th quarter. Pacer Advisors Inc. now owns 6,145,605 shares of the energy company’s stock worth $278,396,000 after buying an additional 5,700,167 shares in the last quarter. 69.72% of the stock is owned by institutional investors and hedge funds.

Devon Energy Stock Up 0.2 %

Shares of Devon Energy stock opened at $52.72 on Friday. Devon Energy Co. has a one year low of $40.47 and a one year high of $55.09. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.07 and a quick ratio of 0.99. The stock’s 50-day moving average is $48.88 and its 200 day moving average is $46.18. The firm has a market cap of $33.48 billion, a price-to-earnings ratio of 9.04 and a beta of 2.19.

Devon Energy (NYSE:DVN) last announced its earnings results on Tuesday, February 27th. The energy company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.39 by $0.02. Devon Energy had a return on equity of 31.72% and a net margin of 24.56%. The company had revenue of $4.15 billion for the quarter, compared to analyst estimates of $3.88 billion. During the same quarter in the prior year, the company earned $1.66 EPS. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. Equities research analysts anticipate that Devon Energy Co. will post 5.25 EPS for the current year.

Devon Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.76 annualized dividend and a dividend yield of 3.34%. Devon Energy’s payout ratio is 15.09%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on DVN. Morgan Stanley boosted their price target on Devon Energy from $49.00 to $50.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Mizuho lowered their target price on Devon Energy from $54.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, January 11th. Susquehanna upped their target price on Devon Energy from $52.00 to $65.00 and gave the stock a “positive” rating in a report on Monday, April 22nd. Scotiabank upped their target price on Devon Energy from $53.00 to $67.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $55.00 target price on shares of Devon Energy in a report on Thursday, March 7th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.33.

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.