49,409 Shares in Devon Energy Co. (NYSE:DVN) Acquired by 111 Capital

111 Capital bought a new stake in Devon Energy Co. (NYSE:DVN) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 49,409 shares of the energy company’s stock, valued at approximately $1,617,000.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Devon Energy by 7.3% during the 4th 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. Raymond James Financial Inc. acquired a new stake in shares of Devon Energy in the fourth quarter valued at $154,170,000. Fuller & Thaler Asset Management Inc. increased its stake in 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 period. Marshall Wace LLP raised its holdings in Devon Energy by 135.5% in the fourth quarter. Marshall Wace LLP now owns 5,371,518 shares of the energy company’s stock valued at $175,810,000 after acquiring an additional 3,090,585 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in Devon Energy by 32.8% in the fourth quarter. Invesco Ltd. now owns 9,461,719 shares of the energy company’s stock valued at $309,682,000 after purchasing an additional 2,335,473 shares in the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Devon Energy Price Performance

Shares of NYSE:DVN opened at $31.34 on Wednesday. The stock has a market cap of $20.12 billion, a PE ratio of 6.87, a price-to-earnings-growth ratio of 1.20 and a beta of 1.00. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57. The stock’s fifty day simple moving average is $32.01 and its two-hundred day simple moving average is $34.18. Devon Energy Co. has a 1-year low of $25.89 and a 1-year high of $49.35.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, May 6th. The energy company reported $1.21 earnings per share (EPS) 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 firm had revenue of $4.45 billion during the quarter, compared to the consensus estimate of $4.31 billion. During the same quarter in the prior year, the firm posted $1.16 earnings per share. The company’s revenue was up 23.8% on a year-over-year basis. As a group, analysts forecast that Devon Energy Co. will post 4.85 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The firm 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 is Friday, June 13th. This represents a $0.96 dividend on an annualized basis and a yield of 3.06%. Devon Energy’s dividend payout ratio is presently 21.87%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Bank of America decreased their target price on shares of Devon Energy from $52.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, April 29th. Mizuho lowered their target price on Devon Energy from $46.00 to $43.00 and set an “outperform” rating for the company in a research note on Tuesday, May 13th. Truist Financial upped their target price on Devon Energy from $42.00 to $44.00 and gave the company a “hold” rating in a research report on Thursday, February 20th. UBS Group decreased their price objective on shares of Devon Energy from $41.00 to $35.00 and set a “neutral” rating for the company in a report on Monday, April 7th. Finally, Raymond James set a $40.00 target price on shares of Devon Energy in a research report on Monday, April 21st. Ten analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $43.71.

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.