Brevan Howard Capital Management LP Makes New Investment in Devon Energy Co. (NYSE:DVN)

Brevan Howard Capital Management LP bought a new stake in shares of Devon Energy Co. (NYSE:DVN - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 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. Vanguard Group Inc. raised its stake in Devon Energy by 7.3% in the fourth quarter. Vanguard Group Inc. now owns 80,682,170 shares of the energy company's stock worth $2,640,727,000 after buying an additional 5,465,692 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Devon Energy by 6.5% during the 4th quarter. Geode Capital Management LLC now owns 16,931,275 shares of the energy company's stock worth $552,830,000 after purchasing an additional 1,038,305 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its holdings in Devon Energy by 42.8% in the fourth 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 in the last quarter. Victory Capital Management Inc. grew its position in shares of Devon Energy by 2.3% in the 4th quarter. Victory Capital Management Inc. now owns 10,203,812 shares of the energy company's stock worth $333,971,000 after buying an additional 232,469 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in Devon Energy by 32.8% in the fourth quarter. Invesco Ltd. now owns 9,461,719 shares of the energy company's stock worth $309,682,000 after purchasing an additional 2,335,473 shares during the last quarter. Institutional investors own 69.72% of the company's stock.

Devon Energy Trading Down 2.6 %

DVN opened at $30.63 on Tuesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01. The company's 50 day simple moving average is $32.85 and its two-hundred day simple moving average is $34.92. The firm has a market capitalization of $19.71 billion, a price-to-earnings ratio of 6.72, a price-to-earnings-growth ratio of 1.20 and a beta of 1.00. Devon Energy Co. has a 1-year low of $25.89 and a 1-year high of $51.46.

Devon Energy (NYSE:DVN - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.16 earnings per share for the quarter, topping analysts' consensus estimates of $1.00 by $0.16. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. The company had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.25 billion. Analysts expect that Devon Energy Co. will post 4.85 EPS for the current fiscal year.

Devon Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a dividend of $0.24 per share. 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 3.13%. The ex-dividend date was Friday, March 14th. Devon Energy's dividend payout ratio (DPR) is presently 21.05%.

Wall Street Analysts Forecast Growth

DVN has been the topic of several research reports. Cowen downgraded Devon Energy to a "hold" rating and cut their target price for the company from $46.00 to $45.00 in a research report on Tuesday, February 18th. JPMorgan Chase & Co. decreased their price objective on Devon Energy from $48.00 to $42.00 and set a "neutral" rating for the company in a report on Thursday, March 13th. Scotiabank reduced their price target on Devon Energy from $45.00 to $35.00 and set a "sector outperform" rating for the company in a research report on Friday, April 11th. Citigroup lowered their price objective on Devon Energy from $46.00 to $43.00 and set a "buy" rating on the stock in a research report on Friday, April 4th. Finally, Raymond James set a $40.00 target price on shares of Devon Energy in a research note on Monday, April 21st. Ten investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $43.87.

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.

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