UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $205.96 Million Stock Holdings in Devon Energy Co. (NYSE:DVN)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its position in Devon Energy Co. (NYSE:DVN) by 7.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 6,292,560 shares of the energy company’s stock after selling 501,050 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.96% of Devon Energy worth $205,955,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Hurley Capital LLC bought a new position in Devon Energy in the 4th quarter valued at about $26,000. Accredited Wealth Management LLC bought a new position in Devon Energy in the 4th quarter valued at about $28,000. Cromwell Holdings LLC raised its holdings in Devon Energy by 98.0% in the 4th quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company’s stock valued at $40,000 after acquiring an additional 598 shares during the period. Sierra Ocean LLC bought a new position in Devon Energy in the 4th quarter valued at about $43,000. Finally, Endeavor Private Wealth Inc. bought a new position in Devon Energy in the 4th quarter valued at about $52,000. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Devon Energy Stock Performance

Shares of Devon Energy stock opened at $31.15 on Friday. Devon Energy Co. has a fifty-two week low of $25.89 and a fifty-two week high of $49.35. 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 firm has a market capitalization of $20.00 billion, a P/E ratio of 6.83, a P/E/G ratio of 1.20 and a beta of 1.00. The company’s 50 day moving average price is $32.29 and its two-hundred day moving average price is $34.38.

Devon Energy (NYSE:DVN) last issued its earnings results on Tuesday, May 6th. The energy company reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.06). Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The company had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.31 billion. During the same quarter in the prior year, the business earned $1.16 EPS. The business’s quarterly revenue was up 23.8% on a year-over-year basis. On average, equities analysts forecast that Devon Energy Co. will post 4.85 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a $0.24 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.96 dividend on an annualized basis and a yield of 3.08%. Devon Energy’s dividend payout ratio is currently 21.87%.

Analyst Ratings Changes

Several research analysts have recently commented on DVN shares. Mizuho lowered their target price on shares of Devon Energy from $46.00 to $43.00 and set an “outperform” rating on the stock in a report on Tuesday, May 13th. Raymond James set a $40.00 target price on shares of Devon Energy in a report on Monday, April 21st. Cowen cut shares of Devon Energy to a “hold” rating and lowered their target price for the stock from $46.00 to $45.00 in a report on Tuesday, February 18th. Morgan Stanley set a $47.00 target price on shares of Devon Energy and gave the stock an “overweight” rating in a report on Wednesday, March 26th. Finally, Williams Trading set a $50.00 target price on shares of Devon Energy in a report on Wednesday, March 5th. Ten research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $43.83.

About Devon Energy

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.