Total Wealth Planning & Management Inc. Makes New $273,000 Investment in Devon Energy Co. (NYSE:DVN)

Total Wealth Planning & Management Inc. acquired a new stake in Devon Energy Co. (NYSE:DVN - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 8,332 shares of the energy company's stock, valued at approximately $273,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DVN. Vanguard Group Inc. increased its stake 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 purchasing an additional 5,465,692 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Devon Energy during the fourth quarter worth about $154,170,000. Fuller & Thaler Asset Management Inc. increased its stake in shares of Devon Energy by 42.8% during the fourth 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 increased its stake in shares of Devon Energy by 135.5% during the fourth 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 in the last quarter. Finally, Invesco Ltd. increased its stake in shares of Devon Energy by 32.8% during the fourth quarter. Invesco Ltd. now owns 9,461,719 shares of the energy company's stock worth $309,682,000 after purchasing an additional 2,335,473 shares in the last quarter. Hedge funds and other institutional investors own 69.72% of the company's stock.

Wall Street Analyst Weigh In

DVN has been the subject of a number of research reports. Mizuho cut their target price on shares of Devon Energy from $46.00 to $43.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Royal Bank of Canada dropped their price objective on shares of 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. Morgan Stanley upped their price objective on shares of Devon Energy from $42.00 to $44.00 and gave the company an "overweight" rating in a research note on Friday, May 23rd. 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. Finally, Citigroup dropped their price objective on shares of Devon Energy from $46.00 to $43.00 and set a "buy" rating for the company in a research note on Friday, April 4th. Ten equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Devon Energy has a consensus rating of "Moderate Buy" and an average price target of $43.71.

Devon Energy Trading Down 2.7%

Shares of DVN stock traded down $0.83 during trading hours on Friday, hitting $30.28. The company had a trading volume of 18,138,161 shares, compared to its average volume of 8,692,775. The company's fifty day moving average is $31.79 and its 200 day moving average is $34.11. 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 fifty-two week low of $25.89 and a fifty-two week high of $49.35. The stock has a market capitalization of $19.44 billion, a PE ratio of 6.64, a price-to-earnings-growth ratio of 1.20 and a beta of 1.00.

Devon Energy (NYSE:DVN - Get Free Report) last issued 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). The company had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.31 billion. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. The business's revenue was up 23.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.16 earnings per share. Research analysts expect 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. Shareholders of record on Friday, June 13th will be issued 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 3.17%. Devon Energy's dividend payout ratio (DPR) is presently 21.87%.

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.