Chelsea Counsel Co. Has $295,000 Stock Position in Devon Energy Co. (NYSE:DVN)

Chelsea Counsel Co. decreased its holdings in Devon Energy Co. (NYSE:DVN - Free Report) by 53.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,000 shares of the energy company's stock after selling 10,400 shares during the period. Chelsea Counsel Co.'s holdings in Devon Energy were worth $295,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in 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 acquiring an additional 5,465,692 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Devon Energy by 6.5% in the 4th 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. boosted its holdings in 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 worth $340,236,000 after purchasing an additional 3,114,656 shares in the last quarter. Victory Capital Management Inc. increased its position in 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 worth $333,971,000 after buying an additional 232,469 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in 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 in the last quarter. Hedge funds and other institutional investors own 69.72% of the company's stock.

Devon Energy Price Performance

DVN traded down $0.83 during midday trading on Friday, reaching $30.28. 18,137,259 shares of the company's stock were exchanged, compared to its average volume of 8,692,749. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. The business has a 50-day simple moving average of $31.79 and a two-hundred day simple moving average of $34.11. The firm has a market capitalization of $19.44 billion, a price-to-earnings ratio of 6.64, a price-to-earnings-growth ratio of 1.20 and a beta of 1.00. Devon Energy Co. has a one year low of $25.89 and a one year high of $49.35.

Devon Energy (NYSE:DVN - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The energy company reported $1.21 EPS for the quarter, missing analysts' consensus estimates of $1.27 by ($0.06). The firm had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.31 billion. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. Devon Energy's quarterly revenue was up 23.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.16 earnings per share. As a group, research analysts predict that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a dividend of $0.24 per share. 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 3.17%. Devon Energy's dividend payout ratio (DPR) is presently 21.87%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on DVN shares. Susquehanna lowered their price objective on Devon Energy from $52.00 to $41.00 and set a "positive" rating on the stock in a report on Tuesday, April 22nd. Wells Fargo & Company increased their price target on Devon Energy from $44.00 to $46.00 and gave the company an "overweight" rating in a report on Wednesday, May 14th. Scotiabank dropped their price target on shares of Devon Energy from $45.00 to $35.00 and set a "sector outperform" rating on the stock in a research report on Friday, April 11th. Morgan Stanley upped their price objective on shares of Devon Energy from $42.00 to $44.00 and gave the stock an "overweight" rating in a report on Friday, May 23rd. Finally, Cowen lowered shares of Devon Energy to a "hold" rating and lowered their target price for the company from $46.00 to $45.00 in a research note on Tuesday, February 18th. Ten 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 stock currently has an average rating of "Moderate Buy" and a consensus target price of $43.71.

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.