Brevan Howard Capital Management LP Acquires Shares of 84,639 Devon Energy Co. (NYSE:DVN)

Brevan Howard Capital Management LP purchased a new stake in shares of Devon Energy Co. (NYSE:DVN - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 84,639 shares of the energy company's stock, valued at approximately $2,770,000.

Several other large investors have also modified their holdings of DVN. Redwood Wealth Management Group LLC lifted its holdings in shares of Devon Energy by 3.9% in the 4th quarter. Redwood Wealth Management Group LLC now owns 8,141 shares of the energy company's stock worth $266,000 after buying an additional 309 shares during the period. Cornerstone Wealth Management LLC lifted its stake in shares of Devon Energy by 1.6% during the fourth quarter. Cornerstone Wealth Management LLC now owns 21,242 shares of the energy company's stock worth $695,000 after buying an additional 326 shares during the period. Annex Advisory Services LLC raised its stake in shares of Devon Energy by 1.2% in the fourth quarter. Annex Advisory Services LLC now owns 27,021 shares of the energy company's stock worth $884,000 after purchasing an additional 327 shares during the last quarter. Independence Bank of Kentucky boosted its position in Devon Energy by 7.8% in the fourth 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 during the last quarter. Finally, Covestor Ltd increased its holdings in Devon Energy by 15.9% in the 4th quarter. Covestor Ltd now owns 2,521 shares of the energy company's stock worth $83,000 after buying an additional 345 shares during the period. Hedge funds and other institutional investors own 69.72% of the company's stock.

Devon Energy Stock Up 2.1 %

Shares of DVN traded up $0.67 during midday trading on Friday, hitting $32.60. The company had a trading volume of 6,838,502 shares, compared to its average volume of 8,581,571. Devon Energy Co. has a 1 year low of $25.89 and a 1 year high of $50.44. The company's 50-day simple moving average is $32.55 and its 200-day simple moving average is $34.72. The firm has a market capitalization of $20.97 billion, a P/E ratio of 7.15, a P/E/G ratio of 1.20 and a beta of 1.00. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.04.

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

Devon Energy Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have recently commented on DVN shares. Susquehanna dropped their price objective on shares of Devon Energy from $52.00 to $41.00 and set a "positive" rating on the stock in a report on Tuesday, April 22nd. Benchmark reissued a "buy" rating and issued a $44.00 price objective on shares of Devon Energy in a report on Thursday, February 20th. Sanford C. Bernstein upgraded Devon Energy from a "market perform" rating to an "outperform" rating and set a $45.00 price target for the company in a research report on Wednesday, January 15th. Scotiabank dropped their price objective on shares of Devon Energy from $45.00 to $35.00 and set a "sector outperform" rating on the stock in a research note on Friday, April 11th. Finally, Raymond James set a $40.00 price target on shares of Devon Energy in a research report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $43.96.

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.