Asset Management One Co. Ltd. Boosts Holdings in Devon Energy Corporation (NYSE:DVN)

Asset Management One Co. Ltd. grew its position in shares of Devon Energy Corporation (NYSE:DVN - Free Report) by 4.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 258,564 shares of the energy company's stock after purchasing an additional 11,893 shares during the period. Asset Management One Co. Ltd.'s holdings in Devon Energy were worth $9,670,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in DVN. Resona Asset Management Co. Ltd. bought a new position in Devon Energy during the fourth quarter valued at $5,967,000. Cantor Fitzgerald Investment Advisors L.P. raised its position in shares of Devon Energy by 10.8% during the 1st quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 272,990 shares of the energy company's stock valued at $10,210,000 after buying an additional 26,519 shares in the last quarter. Merit Financial Group LLC raised its position in shares of Devon Energy by 209.5% during the 1st quarter. Merit Financial Group LLC now owns 22,679 shares of the energy company's stock valued at $848,000 after buying an additional 15,351 shares in the last quarter. Aviva PLC raised its position in shares of Devon Energy by 767.3% during the 4th quarter. Aviva PLC now owns 376,999 shares of the energy company's stock valued at $12,339,000 after buying an additional 333,530 shares in the last quarter. Finally, Autumn Glory Partners LLC lifted its holdings in shares of Devon Energy by 93.6% in the 1st 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 last quarter. 69.72% of the stock is owned by institutional investors.

Devon Energy Trading Up 2.5%

NYSE:DVN traded up $0.81 during midday trading on Tuesday, hitting $32.62. The stock had a trading volume of 7,281,214 shares, compared to its average volume of 8,842,657. The stock has a 50-day moving average of $32.29 and a 200 day moving average of $33.39. The company has a market capitalization of $20.95 billion, a price-to-earnings ratio of 7.43, a PEG ratio of 2.37 and a beta of 1.02. Devon Energy Corporation has a one year low of $25.89 and a one year high of $49.35. The company has a quick ratio of 0.99, a current ratio of 1.08 and a debt-to-equity ratio of 0.57.

Devon Energy (NYSE:DVN - Get Free Report) last issued its earnings results on Tuesday, May 6th. The energy company reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.06). Devon Energy had a return on equity of 21.90% and a net margin of 16.60%. The firm had revenue of $4.45 billion during the quarter, compared to analysts' expectations of $4.31 billion. During the same quarter in the prior year, the company posted $1.16 earnings per share. Devon Energy's quarterly revenue was up 23.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Devon Energy Corporation will post 4.85 EPS for the current year.

Devon Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date was Friday, June 13th. Devon Energy's dividend payout ratio (DPR) is presently 21.87%.

Analysts Set New Price Targets

Several brokerages have weighed in on DVN. Raymond James Financial set a $40.00 price objective on Devon Energy in a research note on Monday, April 21st. Wells Fargo & Company cut their target price on Devon Energy from $46.00 to $41.00 and set an "overweight" rating on the stock in a research report on Monday, June 16th. Wall Street Zen upgraded Devon Energy from a "sell" rating to a "hold" rating in a report on Thursday, May 15th. Williams Trading set a $50.00 price objective on shares of Devon Energy in a research note on Wednesday, March 5th. Finally, Morgan Stanley boosted their price objective on shares of Devon Energy from $42.00 to $44.00 and gave the company an "overweight" rating in a research report on Friday, May 23rd. Ten investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Devon Energy presently has an average rating of "Moderate Buy" and an average price target of $43.50.

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.