Boothbay Fund Management LLC Takes Position in Devon Energy Co. (NYSE:DVN)

Boothbay Fund Management LLC purchased a new position in shares of Devon Energy Co. (NYSE:DVN - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 45,574 shares of the energy company's stock, valued at approximately $1,492,000.

Other institutional investors have also modified their holdings of the company. Klein Pavlis & Peasley Financial Inc. bought a new position in shares of Devon Energy during the 4th quarter worth approximately $782,000. World Investment Advisors LLC grew its position in Devon Energy by 3,440.3% in the third quarter. World Investment Advisors LLC now owns 149,437 shares of the energy company's stock valued at $5,846,000 after purchasing an additional 145,216 shares in the last quarter. Resona Asset Management Co. Ltd. acquired a new stake in Devon Energy in the 4th quarter valued at $5,967,000. New York State Teachers Retirement System lifted its position in Devon Energy by 4.5% during the 4th quarter. New York State Teachers Retirement System now owns 736,351 shares of the energy company's stock worth $24,101,000 after buying an additional 31,520 shares in the last quarter. Finally, First Dallas Securities Inc. boosted its stake in shares of Devon Energy by 31.9% during the 4th quarter. First Dallas Securities Inc. now owns 52,715 shares of the energy company's stock worth $1,725,000 after buying an additional 12,760 shares during the last quarter. Institutional investors own 69.72% of the company's stock.

Devon Energy Stock Performance

Shares of DVN stock traded up $0.75 on Thursday, hitting $31.16. The company's stock had a trading volume of 8,233,767 shares, compared to its average volume of 8,510,302. Devon Energy Co. has a fifty-two week low of $25.89 and a fifty-two week high of $52.25. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.04. The stock's 50 day moving average is $33.03 and its 200-day moving average is $35.14. The company has a market capitalization of $20.05 billion, a PE ratio of 6.83, a PEG ratio of 1.20 and a beta of 1.50.

Devon Energy (NYSE:DVN - Get Free Report) last issued its quarterly earnings results 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. The business had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.25 billion. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. Equities research analysts expect that Devon Energy Co. will post 4.85 earnings per share for the current fiscal 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 issued a $0.24 dividend. This is a positive change from Devon Energy's previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a yield of 3.08%. The ex-dividend date was Friday, March 14th. Devon Energy's dividend payout ratio (DPR) is currently 21.05%.

Analysts Set New Price Targets

DVN has been the topic of several analyst reports. Williams Trading set a $50.00 target price on Devon Energy in a report on Wednesday, March 5th. Bank of America cut their price objective on Devon Energy from $52.00 to $42.00 and set a "buy" rating for the company in a report on Tuesday. Sanford C. Bernstein upgraded shares of Devon Energy from a "market perform" rating to an "outperform" rating and set a $45.00 target price on the stock in a report on Wednesday, January 15th. Susquehanna cut their price target on shares of Devon Energy from $52.00 to $41.00 and set a "positive" rating for the company in a research note on Tuesday, April 22nd. Finally, Barclays lowered their price objective on shares of Devon Energy from $44.00 to $38.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 23rd. Ten equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $43.87.

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.