Devon Energy Co. (NYSE:DVN) Shares Sold by Gotham Asset Management LLC

Gotham Asset Management LLC lessened its stake in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 91.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 41,350 shares of the energy company's stock after selling 464,293 shares during the quarter. Gotham Asset Management LLC's holdings in Devon Energy were worth $1,353,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Klein Pavlis & Peasley Financial Inc. acquired a new stake in Devon Energy during the 4th quarter valued at $782,000. Resona Asset Management Co. Ltd. acquired a new stake in Devon Energy during the 4th quarter valued at $5,967,000. New York State Teachers Retirement System boosted its holdings in shares of Devon Energy by 4.5% during the fourth quarter. New York State Teachers Retirement System now owns 736,351 shares of the energy company's stock worth $24,101,000 after purchasing an additional 31,520 shares during the last quarter. First Dallas Securities Inc. boosted its holdings in shares of Devon Energy by 31.9% during the fourth quarter. First Dallas Securities Inc. now owns 52,715 shares of the energy company's stock worth $1,725,000 after purchasing an additional 12,760 shares during the last quarter. Finally, Aviva PLC boosted its holdings in shares of Devon Energy by 767.3% during the fourth quarter. Aviva PLC now owns 376,999 shares of the energy company's stock worth $12,339,000 after purchasing an additional 333,530 shares during the last quarter. Institutional investors and hedge funds own 69.72% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on DVN shares. Wells Fargo & Company raised their price objective on Devon Energy from $44.00 to $46.00 and gave the stock an "overweight" rating in a report on Wednesday. Morgan Stanley set a $47.00 price objective on Devon Energy and gave the stock an "overweight" rating in a report on Wednesday, March 26th. Cowen cut Devon Energy to a "hold" rating and decreased their price objective for the stock from $46.00 to $45.00 in a report on Tuesday, February 18th. UBS Group decreased their price objective on Devon Energy from $41.00 to $35.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. Finally, Truist Financial raised their price objective on Devon Energy from $42.00 to $44.00 and gave the stock a "hold" rating in a report on Thursday, February 20th. Ten research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $43.83.

Devon Energy Trading Down 0.4%

NYSE:DVN opened at $33.26 on Friday. The business's 50-day moving average is $32.50 and its two-hundred day moving average is $34.57. 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 12 month low of $25.89 and a 12 month high of $50.24. The firm has a market capitalization of $21.35 billion, a PE ratio of 7.29, a price-to-earnings-growth ratio of 1.20 and a beta of 1.00.

Devon Energy (NYSE:DVN - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The energy company reported $1.21 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.06). Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The company had revenue of $4.45 billion during the quarter, compared to analysts' expectations of $4.31 billion. During the same period last year, the business earned $1.16 earnings per share. The company's revenue for the quarter was up 23.8% compared to the same quarter last year. Research analysts predict that Devon Energy Co. will post 4.85 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date is Friday, June 13th. Devon Energy's payout ratio is 21.87%.

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.

Want to see what other hedge funds are holding DVN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Devon Energy Co. (NYSE:DVN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.