Dfpg Investments LLC lifted its stake in Devon Energy Co. (NYSE:DVN – Get Rating) by 10.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,608 shares of the energy company’s stock after purchasing an additional 1,436 shares during the period. Dfpg Investments LLC’s holdings in Devon Energy were worth $790,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of Devon Energy by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 77,173,489 shares of the energy company’s stock worth $4,640,442,000 after acquiring an additional 1,637,042 shares in the last quarter. State Street Corp boosted its position in Devon Energy by 7.3% during the third quarter. State Street Corp now owns 42,814,521 shares of the energy company’s stock worth $2,574,437,000 after purchasing an additional 2,902,180 shares in the last quarter. Geode Capital Management LLC grew its holdings in Devon Energy by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 13,321,413 shares of the energy company’s stock valued at $818,065,000 after purchasing an additional 131,526 shares during the last quarter. Morgan Stanley increased its position in shares of Devon Energy by 3.3% in the fourth quarter. Morgan Stanley now owns 11,263,424 shares of the energy company’s stock valued at $692,813,000 after buying an additional 356,448 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Devon Energy by 16.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 10,141,280 shares of the energy company’s stock worth $609,794,000 after buying an additional 1,469,557 shares during the last quarter. Hedge funds and other institutional investors own 71.00% of the company’s stock.
Devon Energy Price Performance
DVN stock opened at $48.94 on Thursday. The stock has a 50-day simple moving average of $50.12 and a 200-day simple moving average of $55.09. The firm has a market cap of $32.01 billion, a P/E ratio of 5.34, a price-to-earnings-growth ratio of 0.16 and a beta of 2.33. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.02 and a current ratio of 1.09. Devon Energy Co. has a 1 year low of $44.03 and a 1 year high of $78.82.
Devon Energy Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 15th will be paid a dividend of $0.72 per share. The ex-dividend date is Wednesday, June 14th. This represents a $2.88 dividend on an annualized basis and a yield of 5.88%. Devon Energy’s dividend payout ratio (DPR) is 8.72%.
Insiders Place Their Bets
In other Devon Energy news, EVP Dennis C. Cameron sold 8,292 shares of the company’s stock in a transaction that occurred on Friday, May 5th. The stock was sold at an average price of $49.97, for a total transaction of $414,351.24. Following the sale, the executive vice president now owns 218,418 shares in the company, valued at $10,914,347.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.63% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on the stock. UBS Group started coverage on shares of Devon Energy in a research note on Wednesday, April 19th. They issued a “neutral” rating and a $60.00 price objective on the stock. Raymond James raised their price objective on shares of Devon Energy from $67.00 to $70.00 and gave the stock a “strong-buy” rating in a research note on Friday, April 21st. The Goldman Sachs Group raised Devon Energy from a “neutral” rating to a “buy” rating and reduced their target price for the company from $63.00 to $58.00 in a research note on Tuesday, June 13th. Mizuho dropped their price target on Devon Energy from $71.00 to $65.00 in a research report on Friday, May 19th. Finally, Stifel Nicolaus reduced their price objective on Devon Energy from $75.00 to $71.00 in a research report on Monday, May 22nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $67.39.
About Devon Energy
Devon Energy Corporation, an independent energy company, explores for, develops, and produces oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Anadarko, Williston, Eagle Ford, and Powder River Basin. The company was incorporated in 1971 and is headquartered in Oklahoma City, Oklahoma.
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