30,079 Shares in Devon Energy Corporation (NYSE:DVN) Bought by ING Groep NV

ING Groep NV acquired a new stake in Devon Energy Corporation (NYSE:DVN - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 30,079 shares of the energy company's stock, valued at approximately $1,125,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Banque Cantonale Vaudoise purchased a new stake in shares of Devon Energy during the 1st quarter valued at about $26,000. Financial Gravity Asset Management Inc. acquired a new stake in Devon Energy in the first quarter valued at approximately $26,000. Rakuten Securities Inc. raised its stake in shares of Devon Energy by 94.6% during the first quarter. Rakuten Securities Inc. now owns 833 shares of the energy company's stock valued at $31,000 after purchasing an additional 405 shares during the period. Accredited Wealth Management LLC acquired a new position in shares of Devon Energy during the fourth quarter worth $28,000. Finally, Hughes Financial Services LLC acquired a new position in shares of Devon Energy during the first quarter worth $38,000. 69.72% of the stock is owned by hedge funds and other institutional investors.

Devon Energy Stock Up 0.4%

Shares of Devon Energy stock opened at $32.45 on Thursday. The stock has a market capitalization of $20.83 billion, a price-to-earnings ratio of 7.27, a PEG ratio of 1.83 and a beta of 1.07. Devon Energy Corporation has a twelve month low of $25.89 and a twelve month high of $46.04. The company has a current ratio of 1.08, a quick ratio of 0.99 and a debt-to-equity ratio of 0.57. The business's 50 day simple moving average is $32.99 and its 200-day simple moving average is $33.30.

Devon Energy (NYSE:DVN - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The energy company reported $0.84 EPS for the quarter, topping analysts' consensus estimates of $0.83 by $0.01. The firm had revenue of $4.28 billion during the quarter, compared to the consensus estimate of $4.01 billion. Devon Energy had a return on equity of 18.80% and a net margin of 16.57%. The firm's revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.41 EPS. Equities research analysts forecast that Devon Energy Corporation will post 4.85 earnings per share for the current year.

Devon Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given a $0.24 dividend. The ex-dividend date is Monday, September 15th. This represents a $0.96 annualized dividend and a yield of 3.0%. Devon Energy's dividend payout ratio (DPR) is currently 21.87%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on DVN shares. UBS Group raised their price target on shares of Devon Energy from $35.00 to $37.00 and gave the company a "neutral" rating in a report on Friday, July 11th. Susquehanna dropped their target price on Devon Energy from $52.00 to $41.00 and set a "positive" rating on the stock in a research report on Tuesday, April 22nd. Tudor, Pickering, Holt & Co. boosted their price target on Devon Energy from $42.00 to $44.00 in a research note on Thursday, July 3rd. Wall Street Zen raised Devon Energy from a "sell" rating to a "hold" rating in a report on Thursday, May 15th. Finally, Bank of America dropped their price objective on Devon Energy from $52.00 to $42.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. Eleven investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $43.93.

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.

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