Two Sigma Securities LLC Boosts Stock Holdings in Devon Energy Co. (NYSE:DVN)

Two Sigma Securities LLC grew its holdings in Devon Energy Co. (NYSE:DVN - Free Report) by 1,989.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,582 shares of the energy company's stock after purchasing an additional 21,501 shares during the period. Two Sigma Securities LLC's holdings in Devon Energy were worth $739,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Devon Energy by 7.3% during the fourth quarter. Vanguard Group Inc. now owns 80,682,170 shares of the energy company's stock worth $2,640,727,000 after acquiring an additional 5,465,692 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Devon Energy during the 4th quarter valued at $154,170,000. Fuller & Thaler Asset Management Inc. lifted its holdings in Devon Energy by 42.8% during 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 in the last quarter. Marshall Wace LLP boosted its stake in Devon Energy by 135.5% in the 4th quarter. Marshall Wace LLP now owns 5,371,518 shares of the energy company's stock worth $175,810,000 after purchasing an additional 3,090,585 shares during the period. Finally, Invesco Ltd. grew its holdings in Devon Energy by 32.8% during 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 in the last quarter. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Devon Energy Trading Up 2.0 %

DVN traded up $0.60 during midday trading on Thursday, reaching $31.01. 3,581,616 shares of the company's stock traded hands, compared to its average volume of 8,492,457. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01. Devon Energy Co. has a 52 week low of $25.89 and a 52 week high of $52.25. The stock has a market capitalization of $19.95 billion, a price-to-earnings ratio of 6.79, a P/E/G ratio of 1.20 and a beta of 1.50. The firm has a fifty day moving average of $33.15 and a two-hundred day moving average of $35.22.

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

Devon Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $0.24 dividend. This is a boost from Devon Energy's previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend was Friday, March 14th. Devon Energy's dividend payout ratio is currently 21.05%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Truist Financial boosted their price objective on shares of Devon Energy from $42.00 to $44.00 and gave the company a "hold" rating in a research note on Thursday, February 20th. Wolfe Research raised shares of Devon Energy from a "peer perform" rating to an "outperform" rating and set a $45.00 price target on the stock in a report on Friday, January 3rd. Scotiabank dropped their price objective on Devon Energy from $45.00 to $35.00 and set a "sector outperform" rating for the company in a research note on Friday, April 11th. Royal Bank of Canada reduced their target price on Devon Energy from $49.00 to $40.00 and set a "sector perform" rating for the company in a research report on Monday, April 14th. Finally, JPMorgan Chase & Co. lowered their price target on Devon Energy from $48.00 to $42.00 and set a "neutral" rating on the stock in a report on Thursday, March 13th. Ten research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $43.87.

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.