Devon Energy Co. (NYSE:DVN) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System reduced its holdings in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 5.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 742,479 shares of the energy company's stock after selling 38,966 shares during the period. California State Teachers Retirement System owned 0.11% of Devon Energy worth $24,301,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. 111 Capital acquired a new position in shares of Devon Energy during the fourth quarter worth approximately $1,617,000. Thoma Capital Management LLC bought a new stake in shares of Devon Energy in the fourth quarter valued at $530,000. Wealth Enhancement Advisory Services LLC lifted its holdings in Devon Energy by 112.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 3,026,396 shares of the energy company's stock valued at $99,054,000 after purchasing an additional 1,598,579 shares during the last quarter. PKO Investment Management Joint Stock Co bought a new position in Devon Energy in the 4th quarter worth approximately $742,000. Finally, Alpha Wealth Funds LLC bought a new stake in shares of Devon Energy during the 4th quarter valued at $1,290,000. 69.72% of the stock is owned by institutional investors.

Devon Energy Stock Performance

Shares of DVN traded up $0.80 during trading hours on Monday, reaching $31.06. 6,257,048 shares of the company traded hands, compared to its average volume of 8,667,826. The stock has a market capitalization of $19.94 billion, a P/E ratio of 6.81, a P/E/G ratio of 1.20 and a beta of 1.00. 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 business has a fifty day moving average price of $31.65 and a 200-day moving average price of $33.98. Devon Energy Co. has a 12-month low of $25.89 and a 12-month 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 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 firm's revenue was up 23.8% on a year-over-year basis. During the same period last year, the company earned $1.16 earnings per share. Equities analysts anticipate 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 3.09%. The ex-dividend date of this dividend is Friday, June 13th. Devon Energy's dividend payout ratio (DPR) is presently 21.87%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on DVN shares. Barclays upped their price objective on shares of Devon Energy from $38.00 to $40.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 7th. Morgan Stanley boosted their price objective on shares of Devon Energy from $42.00 to $44.00 and gave the company an "overweight" rating in a research report on Friday, May 23rd. Susquehanna dropped their price target on Devon Energy from $52.00 to $41.00 and set a "positive" rating for the company in a research note on Tuesday, April 22nd. Raymond James set a $40.00 target price on Devon Energy in a research report on Monday, April 21st. Finally, JPMorgan Chase & Co. lowered their price target on shares of Devon Energy from $48.00 to $42.00 and set a "neutral" rating for the company in a research report on Thursday, March 13th. Ten analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $43.71.

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.