Great Lakes Retirement Inc. Boosts Stock Position in Devon Energy Co. (NYSE:DVN)

Great Lakes Retirement Inc. boosted its stake in Devon Energy Co. (NYSE:DVN - Free Report) by 56.9% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 412,134 shares of the energy company's stock after buying an additional 149,418 shares during the quarter. Devon Energy makes up about 2.0% of Great Lakes Retirement Inc.'s holdings, making the stock its 11th biggest position. Great Lakes Retirement Inc. owned about 0.06% of Devon Energy worth $15,414,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its position in Devon Energy by 7.3% in the 4th quarter. Vanguard Group Inc. now owns 80,682,170 shares of the energy company's stock worth $2,640,727,000 after purchasing an additional 5,465,692 shares during the last quarter. Geode Capital Management LLC increased 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 worth $552,830,000 after acquiring an additional 1,038,305 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its holdings 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 in the last quarter. Victory Capital Management Inc. boosted its position in Devon Energy by 2.3% during the 4th quarter. Victory Capital Management Inc. now owns 10,203,812 shares of the energy company's stock worth $333,971,000 after acquiring an additional 232,469 shares during the period. Finally, Invesco Ltd. lifted its position in Devon Energy by 32.8% in the 4th quarter. Invesco Ltd. now owns 9,461,719 shares of the energy company's stock worth $309,682,000 after buying an additional 2,335,473 shares in the last quarter. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Devon Energy Stock Down 1.4%

Shares of NYSE:DVN traded down $0.50 during trading on Monday, reaching $34.61. The stock had a trading volume of 9,251,586 shares, compared to its average volume of 8,731,229. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $22.22 billion, a P/E ratio of 7.59, a PEG ratio of 1.20 and a beta of 1.02. The firm's 50-day simple moving average is $31.38 and its 200 day simple moving average is $33.59. 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 posted its quarterly 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). The company had revenue of $4.45 billion during the quarter, compared to analysts' expectations of $4.31 billion. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. The company's quarterly revenue was up 23.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.16 EPS. As a group, research analysts expect that Devon Energy Co. will post 4.85 EPS for the current fiscal year.

Devon Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend is Friday, June 13th. Devon Energy's dividend payout ratio (DPR) is presently 21.87%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on DVN shares. Morgan Stanley increased their price objective on Devon Energy from $42.00 to $44.00 and gave the company an "overweight" rating in a research report on Friday, May 23rd. Benchmark reissued a "buy" rating and set a $44.00 price target on shares of Devon Energy in a research note on Thursday, February 20th. Wall Street Zen raised shares of Devon Energy from a "sell" rating to a "hold" rating in a research note on Thursday, May 15th. Royal Bank of Canada reduced their price objective 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. Finally, Wells Fargo & Company dropped their target price on shares of Devon Energy from $46.00 to $41.00 and set an "overweight" rating on the stock in a report on Monday. Ten equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target 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.