Czech National Bank Boosts Stock Position in Devon Energy Co. (NYSE:DVN)

Czech National Bank grew its stake in Devon Energy Co. (NYSE:DVN - Free Report) by 5.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 150,879 shares of the energy company's stock after buying an additional 8,450 shares during the quarter. Czech National Bank's holdings in Devon Energy were worth $5,643,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Devon Energy by 7.3% in the 4th 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 in the last quarter. Raymond James Financial Inc. purchased a new stake in Devon Energy during the 4th quarter worth approximately $154,170,000. Fuller & Thaler Asset Management Inc. increased its stake in Devon Energy by 42.8% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 10,395,225 shares of the energy company's stock worth $340,236,000 after buying an additional 3,114,656 shares in the last quarter. Marshall Wace LLP grew its position in shares of Devon Energy by 135.5% in the fourth quarter. Marshall Wace LLP now owns 5,371,518 shares of the energy company's stock valued at $175,810,000 after purchasing an additional 3,090,585 shares in 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 in the last quarter. Institutional investors and hedge funds own 69.72% of the company's stock.

Analysts Set New Price Targets

DVN has been the subject of a number of analyst reports. UBS Group dropped their price target on Devon Energy from $41.00 to $35.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. Citigroup dropped their price target on Devon Energy from $46.00 to $43.00 and set a "buy" rating for the company in a research report on Friday, April 4th. Raymond James set a $40.00 price objective on Devon Energy in a report on Monday, April 21st. Piper Sandler decreased their price objective on Devon Energy from $56.00 to $53.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. Finally, Wall Street Zen upgraded Devon Energy from a "sell" rating to a "hold" rating in a report on Thursday, May 15th. Ten research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat, Devon Energy has a consensus rating of "Moderate Buy" and a consensus target price of $43.71.

Devon Energy Stock Down 0.6%

Shares of NYSE DVN traded down $0.18 during mid-day trading on Thursday, hitting $31.38. The company had a trading volume of 4,917,199 shares, compared to its average volume of 8,663,966. The company has a market capitalization of $20.15 billion, a PE ratio of 6.88, a price-to-earnings-growth ratio of 1.20 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01. Devon Energy Co. has a 1-year low of $25.89 and a 1-year high of $49.35. The business's 50-day simple moving average is $31.32 and its 200 day simple moving average is $33.90.

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

Devon Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 3.06%. The ex-dividend date is Friday, June 13th. Devon Energy's dividend payout ratio (DPR) 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.