ProShare Advisors LLC Purchases 10,205 Shares of Devon Energy Co. (NYSE:DVN)

ProShare Advisors LLC boosted its position in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 6.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 159,984 shares of the energy company's stock after buying an additional 10,205 shares during the quarter. ProShare Advisors LLC's holdings in Devon Energy were worth $5,236,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Quantinno Capital Management LP lifted its stake in shares of Devon Energy by 28.2% during the fourth quarter. Quantinno Capital Management LP now owns 57,628 shares of the energy company's stock valued at $1,886,000 after acquiring an additional 12,671 shares during the period. Mufg Securities Americas Inc. bought a new stake in Devon Energy during the 4th quarter worth about $317,000. Nissay Asset Management Corp Japan ADV raised its holdings in Devon Energy by 0.9% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 75,060 shares of the energy company's stock worth $2,342,000 after purchasing an additional 664 shares during the last quarter. NorthRock Partners LLC acquired a new position in Devon Energy during the 4th quarter valued at about $365,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Devon Energy by 330.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 279,310 shares of the energy company's stock valued at $9,142,000 after purchasing an additional 214,349 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Susquehanna dropped their price target on shares of Devon Energy from $52.00 to $41.00 and set a "positive" rating for the company in a research note on Tuesday, April 22nd. The Goldman Sachs Group increased their price target on Devon Energy from $38.00 to $43.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Wells Fargo & Company increased their target price on Devon Energy from $44.00 to $46.00 and gave the company an "overweight" rating in a research note on Wednesday, May 14th. JPMorgan Chase & Co. decreased their target price on Devon Energy from $48.00 to $42.00 and set a "neutral" rating for the company in a research report on Thursday, March 13th. Finally, Bank of America lowered their price target on Devon Energy from $52.00 to $42.00 and set a "buy" rating for the company in a research note on Tuesday, April 29th. Ten investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Devon Energy has an average rating of "Moderate Buy" and a consensus target price of $43.83.

Devon Energy Stock Down 1.1%

NYSE DVN traded down $0.35 on Thursday, reaching $31.15. The company had a trading volume of 6,813,861 shares, compared to its average volume of 8,616,815. The company's fifty day moving average is $32.37 and its 200-day moving average is $34.44. The firm has a market capitalization of $20.00 billion, a price-to-earnings ratio of 6.83, a price-to-earnings-growth ratio of 1.20 and a beta of 1.00. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.04. Devon Energy Co. has a 1-year low of $25.89 and a 1-year high of $49.39.

Devon Energy (NYSE:DVN - Get Free Report) last issued 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 the consensus estimate of $4.31 billion. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The business's revenue for the quarter was up 23.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.16 earnings per share. On average, research analysts forecast that Devon Energy Co. will post 4.85 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

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 paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend is Friday, June 13th. Devon Energy's payout ratio is 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.