Devon Energy Co. (NYSE:DVN) Shares Sold by Axa S.A.

AXA S.A. lessened its holdings in Devon Energy Co. (NYSE:DVN - Free Report) by 30.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 234,191 shares of the energy company's stock after selling 102,078 shares during the quarter. AXA S.A.'s holdings in Devon Energy were worth $7,665,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hurley Capital LLC purchased a new position in Devon Energy during the fourth quarter valued at approximately $26,000. Accredited Wealth Management LLC acquired a new position in shares of Devon Energy in the 4th quarter valued at $28,000. Cromwell Holdings LLC grew its position in Devon Energy by 98.0% during 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 period. Sierra Ocean LLC purchased a new stake in shares of Devon Energy during the 4th quarter worth about $43,000. Finally, Endeavor Private Wealth Inc. purchased a new position in shares of Devon Energy in the 4th quarter valued at about $52,000. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on DVN shares. Cowen lowered Devon Energy to a "hold" rating and decreased their target price for the company from $46.00 to $45.00 in a research report on Tuesday, February 18th. Williams Trading set a $50.00 target price on shares of Devon Energy in a research report on Wednesday, March 5th. Raymond James set a $40.00 target price on shares of Devon Energy in a research note on Monday, April 21st. JPMorgan Chase & Co. decreased 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, UBS Group cut 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. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $43.96.

Devon Energy Trading Up 2.1 %

Devon Energy stock traded up $0.67 during midday trading on Friday, reaching $32.60. 6,838,502 shares of the stock traded hands, compared to its average volume of 8,567,490. 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 firm has a market cap of $20.97 billion, a PE ratio of 7.15, a price-to-earnings-growth ratio of 1.20 and a beta of 1.00. The company has a 50-day simple moving average of $32.55 and a two-hundred day simple moving average of $34.75. Devon Energy Co. has a 12-month low of $25.89 and a 12-month high of $51.20.

Devon Energy (NYSE:DVN - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The energy company reported $1.21 earnings per share 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 business had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.31 billion. During the same quarter last year, the firm posted $1.16 EPS. The company's revenue for the quarter was up 23.8% on a year-over-year basis. Research analysts expect that Devon Energy Co. will post 4.85 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date is Friday, June 13th. Devon Energy's dividend payout ratio is currently 21.87%.

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.