Devon Energy Corporation (NYSE:DVN) Position Increased by Banco Santander S.A.

Key Points

• Banco Santander S.A. increased its stake in Devon Energy Corporation by 19.1%, owning 286,342 shares valued at approximately $10.71 million as of the latest quarter.
• Analyst ratings for Devon Energy indicate a mixed outlook, with price targets ranging from $40.00 to $52.00 and an overall average rating of "Moderate Buy".
• Devon Energy recently announced a quarterly dividend of $0.24 per share, representing an annualized yield of 3.0% and a payout ratio of 21.87%.

Banco Santander S.A. grew its stake in Devon Energy Corporation (NYSE:DVN - Free Report) by 19.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 286,342 shares of the energy company's stock after buying an additional 45,843 shares during the period. Banco Santander S.A.'s holdings in Devon Energy were worth $10,709,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in DVN. Hurley Capital LLC purchased a new position in shares of Devon Energy in the fourth quarter valued at $26,000. Financial Gravity Asset Management Inc. purchased a new position in Devon Energy during the first quarter worth $26,000. Banque Cantonale Vaudoise acquired a new position in shares of Devon Energy in the first quarter worth $26,000. Accredited Wealth Management LLC purchased a new stake in shares of Devon Energy in the fourth quarter valued at $28,000. Finally, Rakuten Securities Inc. boosted its stake in shares of Devon Energy by 94.6% during the first quarter. Rakuten Securities Inc. now owns 833 shares of the energy company's stock valued at $31,000 after acquiring an additional 405 shares during the last quarter. 69.72% of the stock is owned by hedge funds and other institutional investors.

Devon Energy Price Performance

Shares of DVN stock traded up $0.43 on Thursday, reaching $32.88. 2,883,861 shares of the company were exchanged, compared to its average volume of 9,074,632. The company has a market cap of $21.11 billion, a price-to-earnings ratio of 7.34, a P/E/G ratio of 1.83 and a beta of 1.07. Devon Energy Corporation has a 1 year low of $25.89 and a 1 year high of $46.04. The business has a 50-day moving average price of $32.99 and a 200 day moving average price of $33.30. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.99 and a current ratio of 1.08.

Devon Energy (NYSE:DVN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The energy company reported $0.84 earnings per share for the quarter, topping analysts' consensus estimates of $0.83 by $0.01. Devon Energy had a net margin of 16.57% and a return on equity of 18.80%. The firm had revenue of $4.28 billion during the quarter, compared to analysts' expectations of $4.01 billion. During the same quarter last year, the company posted $1.41 EPS. The firm's quarterly revenue was up 9.4% on a year-over-year basis. Equities research analysts forecast that Devon Energy Corporation 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 Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, September 15th. Devon Energy's payout ratio is presently 21.52%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on DVN. Barclays increased their target price on Devon Energy from $40.00 to $42.00 and gave the stock an "equal weight" rating in a research report on Wednesday. Scotiabank reaffirmed an "outperform" rating on shares of Devon Energy in a research report on Friday, July 11th. The Goldman Sachs Group upped their target price on shares of Devon Energy from $38.00 to $43.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Siebert Williams Shank raised their target price on Devon Energy from $47.00 to $52.00 and gave the company a "buy" rating in a research note on Monday, June 23rd. Finally, Susquehanna decreased 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. Eleven investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $43.93.

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.