Devon Energy Co. (NYSE:DVN) Shares Sold by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp trimmed its holdings in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 57.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,749 shares of the energy company's stock after selling 36,176 shares during the period. OMERS ADMINISTRATION Corp's holdings in Devon Energy were worth $875,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Klein Pavlis & Peasley Financial Inc. purchased a new position in Devon Energy during the fourth quarter worth $782,000. Resona Asset Management Co. Ltd. acquired a new stake in shares of Devon Energy during the fourth quarter valued at $5,967,000. New York State Teachers Retirement System increased its position in Devon Energy by 4.5% during the 4th quarter. New York State Teachers Retirement System now owns 736,351 shares of the energy company's stock worth $24,101,000 after purchasing an additional 31,520 shares in the last quarter. First Dallas Securities Inc. raised its stake in Devon Energy by 31.9% in the 4th quarter. First Dallas Securities Inc. now owns 52,715 shares of the energy company's stock valued at $1,725,000 after purchasing an additional 12,760 shares during the last quarter. Finally, Aviva PLC lifted its holdings in Devon Energy by 767.3% in the 4th quarter. Aviva PLC now owns 376,999 shares of the energy company's stock valued at $12,339,000 after purchasing an additional 333,530 shares in the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DVN has been the subject of a number of analyst reports. Morgan Stanley set a $47.00 price objective on shares of Devon Energy and gave the company an "overweight" rating in a research report on Wednesday, March 26th. Mizuho lowered their target price on shares of Devon Energy from $46.00 to $43.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Wells Fargo & Company increased their price target on Devon Energy from $44.00 to $46.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 14th. Truist Financial lifted their price objective on Devon Energy from $42.00 to $44.00 and gave the company a "hold" rating in a research report on Thursday, February 20th. Finally, Citigroup reduced their target price on Devon Energy from $46.00 to $43.00 and set a "buy" rating on the stock in a research report on Friday, April 4th. Ten investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $43.83.

Devon Energy Trading Down 2.0%

DVN traded down $0.64 during trading on Wednesday, hitting $31.54. 8,369,689 shares of the company's stock were exchanged, compared to its average volume of 8,604,805. Devon Energy Co. has a 1 year low of $25.89 and a 1 year high of $50.24. The stock has a 50 day moving average price of $32.43 and a 200 day moving average price of $34.46. The firm has a market cap of $20.25 billion, a P/E ratio of 6.92, a price-to-earnings-growth ratio of 1.20 and a beta of 1.00. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57.

Devon Energy (NYSE:DVN - Get Free Report) last posted its earnings results on Tuesday, May 6th. The energy company reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.06). Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The business had revenue of $4.45 billion for the quarter, compared to analyst estimates of $4.31 billion. During the same quarter in the previous year, the firm posted $1.16 EPS. The business's revenue was up 23.8% compared to the same quarter last year. As a group, analysts expect that Devon Energy Co. will post 4.85 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The business also recently announced 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 annualized dividend and a dividend yield of 3.04%. The ex-dividend date is Friday, June 13th. Devon Energy's payout ratio is 21.87%.

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.