Two Sigma Investments LP Takes Position in Devon Energy Co. (NYSE:DVN)

Two Sigma Investments LP bought a new position in shares of Devon Energy Co. (NYSE:DVN - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 7,836 shares of the energy company's stock, valued at approximately $256,000.

Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Devon Energy by 7.3% in the 4th quarter. Vanguard Group Inc. now owns 80,682,170 shares of the energy company's stock valued at $2,640,727,000 after purchasing an additional 5,465,692 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Devon Energy in the 4th quarter valued at about $154,170,000. Fuller & Thaler Asset Management Inc. raised its stake in Devon Energy by 42.8% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 10,395,225 shares of the energy company's stock valued at $340,236,000 after purchasing an additional 3,114,656 shares during the last quarter. Marshall Wace LLP raised 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 valued at $175,810,000 after purchasing an additional 3,090,585 shares during the last quarter. Finally, Invesco Ltd. raised its stake in Devon Energy by 32.8% in the 4th quarter. Invesco Ltd. now owns 9,461,719 shares of the energy company's stock valued at $309,682,000 after purchasing an additional 2,335,473 shares during the last quarter. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Devon Energy Stock Performance

NYSE:DVN traded up $0.76 during mid-day trading on Friday, hitting $35.09. 12,695,009 shares of the stock were exchanged, compared to its average volume of 8,721,440. The stock has a market capitalization of $22.53 billion, a price-to-earnings ratio of 7.70, a price-to-earnings-growth ratio of 1.20 and a beta of 1.02. The firm's 50-day simple moving average is $31.38 and its 200 day simple moving average is $33.65. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.04. Devon Energy Co. has a fifty-two week low of $25.89 and a fifty-two week high of $49.35.

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

Devon Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a dividend of $0.24 per share. The ex-dividend date is Friday, June 13th. This represents a $0.96 dividend on an annualized basis and a yield of 2.74%. Devon Energy's dividend payout ratio (DPR) is presently 21.87%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on DVN shares. JPMorgan Chase & Co. dropped their price objective on shares of Devon Energy from $48.00 to $42.00 and set a "neutral" rating for the company in a research note on Thursday, March 13th. UBS Group dropped their price objective on shares of Devon Energy from $41.00 to $35.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. The Goldman Sachs Group upped their price objective on shares of Devon Energy from $38.00 to $43.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Barclays upped their price objective on shares of Devon Energy from $38.00 to $40.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 7th. Finally, Cowen downgraded shares of Devon Energy to a "hold" rating and dropped their price objective for the company from $46.00 to $45.00 in a research note on Tuesday, February 18th. Ten research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Devon Energy presently has a consensus rating of "Moderate Buy" and an average target price of $43.71.

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.