Aquatic Capital Management LLC Takes $6.05 Million Position in Devon Energy Co. (NYSE:DVN)

Aquatic Capital Management LLC acquired a new stake in Devon Energy Co. (NYSE:DVN - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 184,809 shares of the energy company's stock, valued at approximately $6,049,000.

Other hedge funds also recently modified their holdings of the company. Boothbay Fund Management LLC bought a new stake in Devon Energy during the 4th quarter valued at $1,492,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Devon Energy in the 4th quarter worth about $21,399,000. Virtus ETF Advisers LLC raised its holdings in shares of Devon Energy by 22.1% in the 4th quarter. Virtus ETF Advisers LLC now owns 4,336 shares of the energy company's stock worth $142,000 after acquiring an additional 786 shares during the last quarter. Coldstream Capital Management Inc. raised its holdings in shares of Devon Energy by 21.7% in the 4th quarter. Coldstream Capital Management Inc. now owns 23,094 shares of the energy company's stock worth $756,000 after acquiring an additional 4,116 shares during the last quarter. Finally, Two Sigma Securities LLC raised its holdings in shares of Devon Energy by 1,989.0% in the 4th quarter. Two Sigma Securities LLC now owns 22,582 shares of the energy company's stock worth $739,000 after acquiring an additional 21,501 shares during the last quarter. Institutional investors own 69.72% of the company's stock.

Devon Energy Price Performance

Shares of NYSE DVN traded down $0.87 during mid-day trading on Wednesday, reaching $30.43. 7,571,478 shares of the company were exchanged, compared to its average volume of 8,511,377. Devon Energy Co. has a 52 week low of $25.89 and a 52 week high of $52.25. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $19.58 billion, a PE ratio of 6.67, a PEG ratio of 1.20 and a beta of 1.50. The company's 50 day moving average price is $33.29 and its 200 day moving average price is $35.25.

Devon Energy (NYSE:DVN - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.16 earnings per share (EPS) for the quarter, topping 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 company had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.25 billion. Sell-side analysts forecast that Devon Energy Co. will post 4.85 earnings per share for the current fiscal year.

Devon Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a $0.24 dividend. The ex-dividend date was Friday, March 14th. This is an increase from Devon Energy's previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a yield of 3.15%. Devon Energy's payout ratio is currently 21.05%.

Wall Street Analyst Weigh In

DVN has been the subject of a number of recent analyst reports. Bank of America reduced their price objective on shares of Devon Energy from $52.00 to $42.00 and set a "buy" rating for the company in a research report on Tuesday. Williams Trading set a $50.00 price objective on shares of Devon Energy in a research report on Wednesday, March 5th. Royal Bank of Canada reduced their price objective on shares of Devon Energy from $49.00 to $40.00 and set a "sector perform" rating for the company in a research report on Monday, April 14th. Raymond James set a $40.00 price objective on shares of Devon Energy in a research report on Monday, April 21st. Finally, Scotiabank reduced their target price on shares of Devon Energy from $45.00 to $35.00 and set a "sector outperform" rating for the company in a research report on Friday, April 11th. Ten research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $43.87.

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.