Devon Energy Co. (NYSE:DVN) Shares Acquired by AQR Capital Management LLC

AQR Capital Management LLC grew its stake in Devon Energy Co. (NYSE:DVN - Free Report) by 59.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,778,980 shares of the energy company's stock after purchasing an additional 666,206 shares during the period. AQR Capital Management LLC owned approximately 0.27% of Devon Energy worth $57,728,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. Hurley Capital LLC acquired a new position in Devon Energy in the fourth quarter valued at approximately $26,000. Cromwell Holdings LLC lifted its position in Devon Energy by 98.0% in the fourth quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company's stock valued at $40,000 after buying an additional 598 shares during the last quarter. Sierra Ocean LLC purchased a new position in Devon Energy during the fourth quarter worth about $43,000. Endeavor Private Wealth Inc. purchased a new position in Devon Energy during the fourth quarter worth about $52,000. Finally, Thompson Investment Management Inc. raised its stake in shares of Devon Energy by 60.0% in the 4th quarter. Thompson Investment Management Inc. now owns 1,600 shares of the energy company's stock valued at $52,000 after acquiring an additional 600 shares during the period. 69.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Truist Financial increased their price objective on shares of Devon Energy from $42.00 to $44.00 and gave the stock a "hold" rating in a research report on Thursday, February 20th. UBS Group dropped their price objective on Devon Energy from $41.00 to $35.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Raymond James set a $40.00 target price on Devon Energy in a report on Monday, April 21st. JPMorgan Chase & Co. cut their price target on shares of Devon Energy from $48.00 to $42.00 and set a "neutral" rating on the stock in a research note on Thursday, March 13th. Finally, Wells Fargo & Company lowered their price objective on shares of Devon Energy from $46.00 to $44.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Ten analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $43.87.

Devon Energy Stock Down 2.6 %

DVN stock traded down $0.81 during trading on Monday, hitting $30.63. 9,981,422 shares of the company's stock were exchanged, compared to its average volume of 8,487,738. The stock has a market capitalization of $19.71 billion, a price-to-earnings ratio of 6.72, a PEG ratio of 1.20 and a beta of 1.00. Devon Energy Co. has a 52-week low of $25.89 and a 52-week high of $51.46. 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 business has a 50-day moving average price of $32.94 and a two-hundred day moving average price of $34.99.

Devon Energy (NYSE:DVN - Get Free Report) last posted its earnings results on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.16. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The firm had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.25 billion. As a group, equities research analysts expect that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a $0.24 dividend. This is an increase from Devon Energy's previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 3.13%. The ex-dividend date of this dividend was Friday, March 14th. Devon Energy's payout ratio is presently 21.05%.

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.