Devon Energy Co. (NYSE:DVN) Shares Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. raised its stake in Devon Energy Co. (NYSE:DVN - Free Report) by 530.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,067,465 shares of the energy company's stock after buying an additional 1,739,436 shares during the quarter. Assenagon Asset Management S.A. owned about 0.32% of Devon Energy worth $77,323,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Hurley Capital LLC purchased a new stake in Devon Energy during the fourth quarter worth about $26,000. Accredited Wealth Management LLC purchased a new stake in Devon Energy during the fourth quarter worth about $28,000. Cromwell Holdings LLC increased its stake in Devon Energy by 98.0% during the fourth quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company's stock worth $40,000 after purchasing an additional 598 shares during the period. Sierra Ocean LLC purchased a new stake in Devon Energy during the fourth quarter worth about $43,000. Finally, Asset Planning Inc purchased a new stake in Devon Energy during the fourth quarter worth about $54,000. Institutional investors and hedge funds own 69.72% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on DVN shares. Morgan Stanley boosted their price target on shares of Devon Energy from $42.00 to $44.00 and gave the stock an "overweight" rating in a research note on Friday, May 23rd. Truist Financial upped their target price on shares of Devon Energy from $42.00 to $44.00 and gave the stock a "hold" rating in a research note on Thursday, February 20th. Bank of America cut their target price on shares of Devon Energy from $52.00 to $42.00 and set a "buy" rating on the stock in a research note on Tuesday, April 29th. Piper Sandler cut their target price on shares of Devon Energy from $56.00 to $53.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 13th. Finally, Barclays upped their price target on Devon Energy from $38.00 to $40.00 and gave the company an "equal weight" rating in a report on Wednesday, May 7th. Ten analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Devon Energy presently has an average rating of "Moderate Buy" and an average target price of $43.71.

Devon Energy Stock Performance

Shares of NYSE DVN traded up $0.76 during mid-day trading on Friday, hitting $35.09. 12,695,009 shares of the company were exchanged, compared to its average volume of 8,721,440. The stock has a 50 day simple moving average of $31.38 and a 200-day simple moving average of $33.65. The firm has a market cap of $22.53 billion, a price-to-earnings ratio of 7.70, a price-to-earnings-growth ratio of 1.20 and a beta of 1.02. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. Devon Energy Co. has a 1-year low of $25.89 and a 1-year high of $49.35.

Devon Energy (NYSE:DVN - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The energy company reported $1.21 earnings per share (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 return on equity of 22.52% and a net margin of 18.14%. The company's revenue was up 23.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.16 EPS. On average, sell-side analysts forecast 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. Stockholders of record on Friday, June 13th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend is Friday, June 13th. Devon Energy's dividend payout ratio is currently 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.