Asset Management One Co. Ltd. Buys 11,893 Shares of Devon Energy Corporation (NYSE:DVN)

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

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Devon Energy by 7.3% in the fourth quarter. Vanguard Group Inc. now owns 80,682,170 shares of the energy company's stock valued at $2,640,727,000 after buying an additional 5,465,692 shares during the period. Geode Capital Management LLC grew its stake in Devon Energy by 6.5% during the fourth quarter. Geode Capital Management LLC now owns 16,931,275 shares of the energy company's stock worth $552,830,000 after purchasing an additional 1,038,305 shares during the period. Fuller & Thaler Asset Management Inc. grew its stake in 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 during the period. Victory Capital Management Inc. grew its holdings in shares of Devon Energy by 2.3% during the fourth quarter. Victory Capital Management Inc. now owns 10,203,812 shares of the energy company's stock valued at $333,971,000 after buying an additional 232,469 shares during the last quarter. Finally, Invesco Ltd. boosted its position 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 valued at $309,682,000 after buying an additional 2,335,473 shares during the last quarter. Institutional investors and hedge funds own 69.72% of the company's stock.

Devon Energy Stock Down 0.7%

Shares of NYSE DVN opened at $32.26 on Friday. The company has a market cap of $20.71 billion, a price-to-earnings ratio of 7.35, a PEG ratio of 2.42 and a beta of 1.02. The firm's fifty day moving average is $32.21 and its 200 day moving average is $33.43. Devon Energy Corporation has a 52 week low of $25.89 and a 52 week 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 announced its earnings results on Tuesday, May 6th. The energy company reported $1.21 earnings per share for the quarter, missing analysts' consensus estimates of $1.27 by ($0.06). The company had revenue of $4.45 billion for the quarter, compared to the consensus estimate of $4.31 billion. Devon Energy had a net margin of 16.60% and a return on equity of 21.90%. The company's revenue for the quarter was up 23.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.16 EPS. On average, equities research analysts expect that Devon Energy Corporation will post 4.85 earnings per share for the current year.

Devon Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.98%. The ex-dividend date of this dividend is Friday, June 13th. Devon Energy's payout ratio is currently 21.87%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on DVN shares. Williams Trading set a $50.00 target price on Devon Energy in a research note on Wednesday, March 5th. Susquehanna lowered their target price on shares of Devon Energy from $52.00 to $41.00 and set a "positive" rating on the stock in a research note on Tuesday, April 22nd. Royal Bank Of Canada lowered their target price on shares of Devon Energy from $49.00 to $40.00 and set a "sector perform" rating on the stock in a research note on Monday, April 14th. Piper Sandler lowered their target price on shares of Devon Energy from $56.00 to $53.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 13th. Finally, Wells Fargo & Company decreased their price target on shares of Devon Energy from $46.00 to $41.00 and set an "overweight" rating on the stock in a research note on Monday, June 16th. Ten equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $43.50.

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.

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