American Century Companies Inc. Has $42.36 Million Holdings in Devon Energy Corporation $DVN

Key Points

• American Century Companies Inc. increased its stake in Devon Energy Corporation by 26.3% during the 1st quarter, owning approximately 1.13 million shares valued at $42.36 million.
• Devon Energy recently declared a quarterly dividend of $0.24 per share, equating to an annualized dividend of $0.96 and a yield of 2.8%.
• The company reported a quarterly EPS of $0.84, exceeding analysts' expectations, alongside a revenue of $4.28 billion for the quarter.

American Century Companies Inc. raised its stake in Devon Energy Corporation (NYSE:DVN - Free Report) by 26.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,132,683 shares of the energy company's stock after purchasing an additional 235,532 shares during the period. American Century Companies Inc. owned 0.18% of Devon Energy worth $42,362,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cantor Fitzgerald Investment Advisors L.P. increased its holdings in shares of Devon Energy by 10.8% in the first quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 272,990 shares of the energy company's stock valued at $10,210,000 after purchasing an additional 26,519 shares during the last quarter. Merit Financial Group LLC boosted its position in shares of Devon Energy by 209.5% in the first quarter. Merit Financial Group LLC now owns 22,679 shares of the energy company's stock valued at $848,000 after acquiring an additional 15,351 shares during the period. Autumn Glory Partners LLC boosted its position in shares of Devon Energy by 93.6% in the first quarter. Autumn Glory Partners LLC now owns 41,368 shares of the energy company's stock valued at $1,547,000 after acquiring an additional 20,000 shares during the period. Intact Investment Management Inc. bought a new stake in shares of Devon Energy in the first quarter valued at about $2,524,000. Finally, Praxis Investment Management Inc. boosted its position in shares of Devon Energy by 41.8% in the first quarter. Praxis Investment Management Inc. now owns 47,000 shares of the energy company's stock valued at $1,758,000 after acquiring an additional 13,860 shares during the period. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on DVN shares. Scotiabank reissued an "outperform" rating on shares of Devon Energy in a research report on Friday, July 11th. Jefferies Financial Group boosted their target price on shares of Devon Energy from $31.00 to $33.00 and gave the company a "hold" rating in a research report on Monday, July 14th. BMO Capital Markets upped their price objective on shares of Devon Energy from $48.00 to $51.00 and gave the stock an "outperform" rating in a research report on Monday, July 14th. Siebert Williams Shank upped their price objective on shares of Devon Energy from $47.00 to $52.00 and gave the stock a "buy" rating in a research report on Monday, June 23rd. Finally, Wall Street Zen raised shares of Devon Energy from a "sell" rating to a "hold" rating in a research report on Thursday, May 15th. Sixteen investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, Devon Energy has a consensus rating of "Moderate Buy" and an average price target of $44.15.

Devon Energy Price Performance

NYSE DVN traded up $0.5850 during trading on Monday, hitting $35.7450. 4,043,138 shares of the company's stock were exchanged, compared to its average volume of 8,928,662. The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. The company has a market cap of $22.69 billion, a PE ratio of 8.02, a P/E/G ratio of 2.00 and a beta of 1.07. Devon Energy Corporation has a fifty-two week low of $25.89 and a fifty-two week high of $46.04. The stock's 50 day moving average price is $33.25 and its two-hundred day moving average price is $33.13.

Devon Energy (NYSE:DVN - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The energy company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.01. Devon Energy had a return on equity of 18.59% and a net margin of 16.57%.The company had revenue of $4.28 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the prior year, the firm posted $1.41 earnings per share. The firm's revenue was up 9.4% compared to the same quarter last year. Research analysts expect that Devon Energy Corporation will post 4.85 EPS for the current year.

Devon Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.96 annualized dividend and a dividend yield of 2.7%. Devon Energy's dividend payout ratio is currently 21.52%.

Insider Activity

In other Devon Energy news, Director Kelt Kindick sold 7,685 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $33.46, for a total transaction of $257,140.10. Following the completion of the sale, the director owned 31,801 shares of the company's stock, valued at approximately $1,064,061.46. This represents a 19.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.73% of the stock is owned by corporate insiders.

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.