Ensign Peak Advisors Inc Boosts Stock Holdings in Devon Energy Co. (NYSE:DVN)

Ensign Peak Advisors Inc boosted its holdings in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 208.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 283,882 shares of the energy company's stock after buying an additional 191,788 shares during the quarter. Ensign Peak Advisors Inc's holdings in Devon Energy were worth $9,291,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in DVN. Principal Financial Group Inc. raised its stake in shares of Devon Energy by 1.0% during the 3rd quarter. Principal Financial Group Inc. now owns 731,978 shares of the energy company's stock worth $28,635,000 after acquiring an additional 7,487 shares in the last quarter. Czech National Bank lifted its holdings in shares of Devon Energy by 11.7% during the 4th quarter. Czech National Bank now owns 142,429 shares of the energy company's stock valued at $4,662,000 after purchasing an additional 14,866 shares during the last quarter. Kieckhefer Group LLC acquired a new stake in shares of Devon Energy in the 4th quarter worth $801,000. Kwmg LLC raised its stake in Devon Energy by 14.7% in the fourth quarter. Kwmg LLC now owns 126,619 shares of the energy company's stock valued at $4,144,000 after buying an additional 16,180 shares during the last quarter. Finally, FNY Investment Advisers LLC raised its stake in Devon Energy by 738.5% in the fourth quarter. FNY Investment Advisers LLC now owns 6,700 shares of the energy company's stock valued at $219,000 after buying an additional 5,901 shares during the last quarter. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Devon Energy Stock Performance

Shares of NYSE DVN opened at $33.52 on Tuesday. The company has a market capitalization of $21.57 billion, a PE ratio of 7.35, a price-to-earnings-growth 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. The company's fifty day moving average price is $32.55 and its 200 day moving average price is $34.65. Devon Energy Co. has a 1 year low of $25.89 and a 1 year high of $50.44.

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

Devon Energy Announces Dividend

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 given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date of this dividend is Friday, June 13th. Devon Energy's dividend payout ratio (DPR) is presently 21.87%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on DVN. Cowen downgraded shares of Devon Energy to a "hold" rating and cut their price objective for the company from $46.00 to $45.00 in a report on Tuesday, February 18th. Scotiabank cut their price target 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. Sanford C. Bernstein raised shares of Devon Energy from a "market perform" rating to an "outperform" rating and set a $45.00 price target for the company in a report on Wednesday, January 15th. Bank of America dropped their price objective on shares of Devon Energy from $52.00 to $42.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. Finally, 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 note on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Devon Energy has an average rating of "Moderate Buy" and a consensus target price 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.

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