Devon Energy Corporation (NYSE:DVN) Shares Acquired by Bank of Stockton

Bank of Stockton increased its holdings in shares of Devon Energy Corporation (NYSE:DVN) by 5.7% in the first quarter, Holdings Channel reports. The firm owned 8,193 shares of the energy company’s stock after buying an additional 445 shares during the period. Bank of Stockton’s holdings in Devon Energy were worth $306,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in DVN. Vanguard Group Inc. lifted its position 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 buying an additional 5,465,692 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Devon Energy during the fourth quarter worth about $154,170,000. Fuller & Thaler Asset Management Inc. increased its position 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 purchasing an additional 3,114,656 shares during the period. Marshall Wace LLP lifted its holdings in shares of Devon Energy by 135.5% in the 4th quarter. Marshall Wace LLP now owns 5,371,518 shares of the energy company’s stock valued at $175,810,000 after buying an additional 3,090,585 shares during the period. Finally, Invesco Ltd. lifted 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 during the period. 69.72% of the stock is owned by hedge funds and other institutional investors.

Devon Energy Stock Down 0.6%

NYSE:DVN opened at $32.17 on Thursday. Devon Energy Corporation has a one year low of $25.89 and a one year high of $49.35. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.99 and a current ratio of 1.08. The company has a market capitalization of $20.66 billion, a price-to-earnings ratio of 7.33, a price-to-earnings-growth ratio of 2.41 and a beta of 1.02. The stock has a 50-day simple moving average of $32.13 and a 200 day simple moving average of $33.46.

Devon Energy (NYSE:DVN) last released 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 business had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.31 billion. Devon Energy had a return on equity of 21.90% and a net margin of 16.60%. The business’s revenue for the quarter was up 23.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.16 EPS. Sell-side analysts predict that Devon Energy Corporation will post 4.85 EPS for the current fiscal year.

Devon Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.96 annualized dividend and a dividend yield of 2.98%. Devon Energy’s payout ratio is currently 21.87%.

Analyst Ratings Changes

A number of research firms recently weighed in on DVN. Royal Bank Of Canada lowered their price target on Devon Energy from $49.00 to $40.00 and set a “sector perform” rating on the stock in a report on Monday, April 14th. Raymond James Financial set a $40.00 target price on Devon Energy in a research note on Monday, April 21st. Williams Trading set a $50.00 price objective on Devon Energy in a report on Wednesday, March 5th. Mizuho reduced their price target on shares of Devon Energy from $46.00 to $43.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. Finally, Wall Street Zen upgraded Devon Energy from a “sell” rating to a “hold” rating in a research note on Thursday, May 15th. Ten research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Devon Energy has a consensus rating of “Moderate Buy” and an average price target of $43.50.

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.