Autumn Glory Partners LLC Acquires 20,000 Shares of Devon Energy Corporation (NYSE:DVN)

Autumn Glory Partners LLC grew its position in Devon Energy Corporation (NYSE:DVN - Free Report) by 93.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,368 shares of the energy company's stock after purchasing an additional 20,000 shares during the quarter. Autumn Glory Partners LLC's holdings in Devon Energy were worth $1,547,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its position 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 purchasing an additional 5,465,692 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Devon Energy by 6.5% in the fourth quarter. Geode Capital Management LLC now owns 16,931,275 shares of the energy company's stock valued at $552,830,000 after purchasing an additional 1,038,305 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its position in shares of Devon Energy by 42.8% in the fourth 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. Victory Capital Management Inc. grew its position in shares of Devon Energy by 2.3% in 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 purchasing an additional 232,469 shares during the last quarter. Finally, Invesco Ltd. grew its position in shares of Devon Energy by 32.8% in the fourth 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. Institutional investors and hedge funds own 69.72% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. The Goldman Sachs Group upped their target price on Devon Energy from $38.00 to $43.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Susquehanna cut their price target on Devon Energy from $52.00 to $41.00 and set a "positive" rating for the company in a research note on Tuesday, April 22nd. Wells Fargo & Company cut their price target on Devon Energy from $46.00 to $41.00 and set an "overweight" rating for the company in a research note on Monday. Williams Trading set a $50.00 price target on Devon Energy in a research note on Wednesday, March 5th. Finally, JPMorgan Chase & Co. cut their price target on Devon Energy from $48.00 to $42.00 and set a "neutral" rating for the company in a research note on Thursday, March 13th. Ten research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $43.50.

Devon Energy Price Performance

Shares of DVN opened at $34.02 on Thursday. Devon Energy Corporation has a 12-month low of $25.89 and a 12-month high of $49.35. The business has a 50-day simple moving average of $31.67 and a two-hundred day simple moving average of $33.58. The company has a quick ratio of 0.99, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The stock has a market cap of $21.84 billion, a PE ratio of 7.75, a PEG ratio of 2.59 and a beta of 1.02.

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 (EPS) for the quarter, missing analysts' consensus estimates 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 analyst estimates of $4.31 billion. During the same period in the previous year, the company earned $1.16 EPS. Devon Energy's revenue for the quarter was up 23.8% on a year-over-year basis. Analysts anticipate that Devon Energy Corporation will post 4.85 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The company 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 $0.24 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.96 dividend on an annualized basis and a yield of 2.82%. Devon Energy's payout ratio is presently 21.87%.

Devon Energy Company 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.

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