Public Employees Retirement Association of Colorado Sells 764 Shares of Devon Energy Co. (NYSE:DVN)

Public Employees Retirement Association of Colorado decreased its position in Devon Energy Co. (NYSE:DVN) by 1.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 66,077 shares of the energy company’s stock after selling 764 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Devon Energy were worth $2,163,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Klein Pavlis & Peasley Financial Inc. bought a new position in Devon Energy in the fourth quarter valued at approximately $782,000. World Investment Advisors LLC increased its position in Devon Energy by 3,440.3% during the third quarter. World Investment Advisors LLC now owns 149,437 shares of the energy company’s stock worth $5,846,000 after buying an additional 145,216 shares during the last quarter. Resona Asset Management Co. Ltd. bought a new stake in Devon Energy in the fourth quarter valued at approximately $5,967,000. New York State Teachers Retirement System lifted its position in shares of Devon Energy by 4.5% in the fourth quarter. New York State Teachers Retirement System now owns 736,351 shares of the energy company’s stock valued at $24,101,000 after buying an additional 31,520 shares during the last quarter. Finally, First Dallas Securities Inc. boosted its stake in shares of Devon Energy by 31.9% during the 4th quarter. First Dallas Securities Inc. now owns 52,715 shares of the energy company’s stock worth $1,725,000 after acquiring an additional 12,760 shares during the period. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on DVN shares. Scotiabank decreased their price objective on shares of Devon Energy from $45.00 to $35.00 and set a “sector outperform” rating on the stock in a report on Friday, April 11th. Williams Trading set a $50.00 price target on shares of Devon Energy in a report on Wednesday, March 5th. Barclays lowered their target price on Devon Energy from $44.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 23rd. Cowen downgraded Devon Energy to a “hold” rating and reduced their price target for the company from $46.00 to $45.00 in a research note on Tuesday, February 18th. Finally, Benchmark reissued a “buy” rating and set a $44.00 target price on shares of Devon Energy in a report on Thursday, February 20th. Ten analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $43.87.

Devon Energy Stock Down 2.8 %

Devon Energy stock opened at $30.43 on Thursday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.04. The firm has a 50 day moving average price of $33.15 and a two-hundred day moving average price of $35.22. Devon Energy Co. has a 52-week low of $25.89 and a 52-week high of $52.25. The firm has a market cap of $19.58 billion, a price-to-earnings ratio of 6.67, a PEG ratio of 1.20 and a beta of 1.50.

Devon Energy (NYSE:DVN) last issued its earnings results on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.00 by $0.16. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. The company had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.25 billion. Equities analysts predict that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from Devon Energy’s previous quarterly dividend of $0.22. Devon Energy’s dividend payout ratio (DPR) is currently 21.05%.

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.