Banco Bilbao Vizcaya Argentaria S.A. Boosts Stake in Devon Energy Co. (NYSE:DVN)

Banco Bilbao Vizcaya Argentaria S.A. boosted its stake in Devon Energy Co. (NYSE:DVN - Free Report) by 14.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 328,919 shares of the energy company's stock after acquiring an additional 42,339 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. owned 0.05% of Devon Energy worth $10,709,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in DVN. Redwood Wealth Management Group LLC raised its holdings in shares of Devon Energy by 3.9% during the fourth quarter. Redwood Wealth Management Group LLC now owns 8,141 shares of the energy company's stock worth $266,000 after purchasing an additional 309 shares during the period. Cornerstone Wealth Management LLC grew its position in Devon Energy by 1.6% in the 4th quarter. Cornerstone Wealth Management LLC now owns 21,242 shares of the energy company's stock valued at $695,000 after buying an additional 326 shares in the last quarter. Annex Advisory Services LLC grew its position in Devon Energy by 1.2% in the 4th quarter. Annex Advisory Services LLC now owns 27,021 shares of the energy company's stock valued at $884,000 after buying an additional 327 shares in the last quarter. Independence Bank of Kentucky grew its position in Devon Energy by 7.8% in the 4th quarter. Independence Bank of Kentucky now owns 4,580 shares of the energy company's stock valued at $150,000 after buying an additional 330 shares in the last quarter. Finally, Covestor Ltd grew its position in Devon Energy by 15.9% in the 4th quarter. Covestor Ltd now owns 2,521 shares of the energy company's stock valued at $83,000 after buying an additional 345 shares in the last quarter. 69.72% of the stock is owned by institutional investors and hedge funds.

Devon Energy Price Performance

NYSE DVN traded down $0.29 during trading on Tuesday, hitting $31.27. 1,753,113 shares of the company's stock were exchanged, compared to its average volume of 8,484,156. The stock's 50 day moving average price is $33.44 and its two-hundred day moving average price is $35.28. Devon Energy Co. has a fifty-two week low of $25.89 and a fifty-two week high of $53.20. 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 company has a market cap of $20.11 billion, a PE ratio of 6.86, a P/E/G ratio of 1.20 and a beta of 1.50.

Devon Energy (NYSE:DVN - Get Free Report) last released its earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share for the quarter, beating analysts' consensus estimates of $1.00 by $0.16. The business had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.25 billion. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. 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. Shareholders of record on Friday, March 14th were paid a $0.24 dividend. The ex-dividend date was Friday, March 14th. This is a boost from Devon Energy's previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a yield of 3.07%. Devon Energy's dividend payout ratio is currently 21.05%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Sanford C. Bernstein raised shares of Devon Energy from a "market perform" rating to an "outperform" rating and set a $45.00 price target for the company in a report on Wednesday, January 15th. Williams Trading set a $50.00 target price on shares of Devon Energy in a research note on Wednesday, March 5th. Mizuho cut their target price on shares of Devon Energy from $49.00 to $46.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. StockNews.com upgraded shares of Devon Energy from a "sell" rating to a "hold" rating in a report on Friday, January 3rd. Finally, Wells Fargo & Company lowered their price target on shares of Devon Energy from $46.00 to $44.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Ten equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $44.83.

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.