Black Maple Capital Management LP Invests $1.96 Million in Devon Energy Co. (NYSE:DVN)

Black Maple Capital Management LP purchased a new stake in shares of Devon Energy Co. (NYSE:DVN - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 59,802 shares of the energy company's stock, valued at approximately $1,957,000. Devon Energy comprises about 1.0% of Black Maple Capital Management LP's investment portfolio, making the stock its 18th largest position.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Devon Energy by 7.3% in the 4th quarter. Vanguard Group Inc. now owns 80,682,170 shares of the energy company's stock valued at $2,640,727,000 after acquiring an additional 5,465,692 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Devon Energy in the fourth quarter valued at approximately $154,170,000. Fuller & Thaler Asset Management Inc. raised its position in Devon Energy by 42.8% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 10,395,225 shares of the energy company's stock worth $340,236,000 after purchasing an additional 3,114,656 shares during the last quarter. Marshall Wace LLP lifted its holdings in Devon Energy by 135.5% during the 4th quarter. Marshall Wace LLP now owns 5,371,518 shares of the energy company's stock worth $175,810,000 after buying an additional 3,090,585 shares in the last quarter. Finally, Invesco Ltd. boosted its position in Devon Energy by 32.8% in the 4th quarter. Invesco Ltd. now owns 9,461,719 shares of the energy company's stock valued at $309,682,000 after buying an additional 2,335,473 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Barclays dropped their target price on Devon Energy from $44.00 to $38.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 23rd. Raymond James set a $40.00 target price on shares of Devon Energy in a research note on Monday, April 21st. 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 research note on Wednesday, January 15th. Benchmark reaffirmed a "buy" rating and issued a $44.00 price objective on shares of Devon Energy in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Devon Energy from $48.00 to $42.00 and set a "neutral" rating for the company in a research report on Thursday, March 13th. Ten analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Devon Energy has a consensus rating of "Moderate Buy" and an average price target of $43.87.

Devon Energy Trading Up 1.0 %

Shares of NYSE:DVN opened at $31.46 on Friday. The firm has a market cap of $20.24 billion, a price-to-earnings ratio of 6.90, a PEG ratio of 1.20 and a beta of 1.50. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. Devon Energy Co. has a 12 month low of $25.89 and a 12 month high of $51.46. The company's fifty day simple moving average is $32.94 and its 200 day simple moving average is $35.03.

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 for the quarter, topping the consensus estimate of $1.00 by $0.16. The company had revenue of $4.40 billion during the quarter, compared to analysts' expectations of $4.25 billion. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. As a group, research analysts forecast that Devon Energy Co. will post 4.85 EPS for the current fiscal year.

Devon Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date was Friday, March 14th. This is a positive change from Devon Energy's previous quarterly dividend of $0.22. Devon Energy's payout ratio is currently 21.05%.

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.

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