Devon Energy Co. (NYSE:DVN) Shares Bought by Scissortail Wealth Management LLC

Scissortail Wealth Management LLC grew its holdings in shares of Devon Energy Co. (NYSE:DVN) by 11,566.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 47,484 shares of the energy company’s stock after purchasing an additional 47,077 shares during the period. Scissortail Wealth Management LLC’s holdings in Devon Energy were worth $1,554,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in DVN. Vanguard Group Inc. lifted its stake in Devon Energy by 7.3% during the fourth quarter. Vanguard Group Inc. now owns 80,682,170 shares of the energy company’s stock worth $2,640,727,000 after purchasing an additional 5,465,692 shares during the last quarter. Geode Capital Management LLC raised its holdings in Devon Energy by 6.5% during the fourth quarter. Geode Capital Management LLC now owns 16,931,275 shares of the energy company’s stock worth $552,830,000 after purchasing an additional 1,038,305 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its position in shares of Devon Energy by 42.8% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 10,395,225 shares of the energy company’s stock worth $340,236,000 after buying an additional 3,114,656 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Devon Energy by 2.3% during the 4th quarter. Victory Capital Management Inc. now owns 10,203,812 shares of the energy company’s stock worth $333,971,000 after buying an additional 232,469 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Devon Energy by 32.8% in the 4th quarter. Invesco Ltd. now owns 9,461,719 shares of the energy company’s stock valued at $309,682,000 after buying an additional 2,335,473 shares in the last quarter. 69.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. The Goldman Sachs Group lifted their price target on shares of Devon Energy from $38.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday. Cowen lowered Devon Energy to a “hold” rating and dropped their price objective for the stock from $46.00 to $45.00 in a report on Tuesday, February 18th. Raymond James set a $40.00 target price on Devon Energy in a report on Monday, April 21st. UBS Group decreased their target price on Devon Energy from $41.00 to $35.00 and set a “neutral” rating for the company in a research report on Monday, April 7th. Finally, Williams Trading set a $50.00 price target on Devon Energy in a research note on Wednesday, March 5th. Ten equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Devon Energy presently has a consensus rating of “Moderate Buy” and an average target price of $43.83.

Devon Energy Price Performance

Shares of NYSE DVN opened at $33.26 on Friday. The stock has a fifty day moving average price of $32.50 and a 200 day moving average price of $34.57. Devon Energy Co. has a 1-year low of $25.89 and a 1-year high of $50.24. 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 company has a market cap of $21.35 billion, a PE ratio of 7.29, a P/E/G ratio of 1.20 and a beta of 1.00.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, May 6th. The energy company reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.06). The firm had revenue of $4.45 billion for the quarter, compared to analysts’ expectations of $4.31 billion. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. The firm’s quarterly revenue was up 23.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.16 EPS. Sell-side analysts forecast that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.96 annualized dividend and a yield of 2.89%. Devon Energy’s dividend payout ratio is currently 21.87%.

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.