Nepsis Inc. Purchases 621,662 Shares of Devon Energy Co. (NYSE:DVN)

Nepsis Inc. raised its position in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 3,950.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 637,398 shares of the energy company's stock after purchasing an additional 621,662 shares during the period. Devon Energy comprises 5.9% of Nepsis Inc.'s portfolio, making the stock its biggest position. Nepsis Inc. owned 0.10% of Devon Energy worth $23,839,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in Devon Energy by 7.3% during 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 acquiring an additional 5,465,692 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Devon Energy by 6.5% during the 4th quarter. Geode Capital Management LLC now owns 16,931,275 shares of the energy company's stock worth $552,830,000 after purchasing an additional 1,038,305 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its position in Devon Energy by 42.8% during 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. grew its stake in Devon Energy by 2.3% in the fourth quarter. Victory Capital Management Inc. now owns 10,203,812 shares of the energy company's stock valued at $333,971,000 after purchasing an additional 232,469 shares during the last quarter. Finally, Invesco Ltd. grew its stake in 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 during the last quarter. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Devon Energy Stock Performance

Shares of NYSE:DVN traded up $0.76 during midday trading on Friday, reaching $35.09. The company's stock had a trading volume of 12,695,009 shares, compared to its average volume of 8,721,436. 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 stock has a fifty day moving average of $31.38 and a 200 day moving average of $33.65. Devon Energy Co. has a twelve month low of $25.89 and a twelve month high of $49.35. The firm has a market capitalization of $22.53 billion, a PE ratio of 7.70, a P/E/G ratio of 1.20 and a beta of 1.02.

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 for the quarter, missing analysts' consensus estimates of $1.27 by ($0.06). Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The company had revenue of $4.45 billion for the quarter, compared to analysts' expectations of $4.31 billion. During the same quarter in the previous year, the business posted $1.16 EPS. The business's quarterly revenue was up 23.8% on a year-over-year basis. On average, equities analysts expect that Devon Energy Co. will post 4.85 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The business 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. This represents a $0.96 annualized dividend and a yield of 2.74%. The ex-dividend date is Friday, June 13th. Devon Energy's dividend payout ratio is currently 21.87%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on DVN shares. Williams Trading set a $50.00 price target on shares of Devon Energy in a report on Wednesday, March 5th. Benchmark restated a "buy" rating and issued a $44.00 target price on shares of Devon Energy in a research note on Thursday, February 20th. Scotiabank cut 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 report on Friday, April 11th. Citigroup decreased their price objective on Devon Energy from $46.00 to $43.00 and set a "buy" rating for the company in a report on Friday, April 4th. Finally, Barclays raised their price objective on Devon Energy from $38.00 to $40.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 7th. Ten analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $43.71.

Devon Energy 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.