USS Investment Management Ltd Boosts Holdings in Devon Energy Co. (NYSE:DVN)

USS Investment Management Ltd lifted its holdings in Devon Energy Co. (NYSE:DVN - Free Report) by 173.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 177,086 shares of the energy company's stock after purchasing an additional 112,386 shares during the quarter. USS Investment Management Ltd's holdings in Devon Energy were worth $5,799,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Hurley Capital LLC bought a new stake in shares of Devon Energy in the fourth quarter worth $26,000. Accredited Wealth Management LLC bought a new stake in shares of Devon Energy in the fourth quarter worth $28,000. Cromwell Holdings LLC lifted its position in shares of Devon Energy by 98.0% in 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 in the last quarter. Sierra Ocean LLC bought a new stake in shares of Devon Energy in the fourth quarter worth $43,000. Finally, Endeavor Private Wealth Inc. bought a new stake in shares of Devon Energy in the fourth quarter worth $52,000. Institutional investors own 69.72% of the company's stock.

Devon Energy Stock Down 0.5%

Shares of NYSE:DVN traded down $0.16 during midday trading on Wednesday, hitting $31.20. 1,948,421 shares of the company's stock were exchanged, compared to its average volume of 8,628,034. Devon Energy Co. has a 12 month low of $25.89 and a 12 month high of $49.35. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01. The stock has a 50 day moving average price of $32.01 and a 200-day moving average price of $34.18. The company has a market cap of $20.03 billion, a PE ratio of 6.84, a price-to-earnings-growth ratio of 1.20 and a beta of 1.00.

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

Devon Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders 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 yield of 3.08%. The ex-dividend date is Friday, June 13th. Devon Energy's payout ratio is 21.87%.

Analyst Ratings Changes

DVN has been the topic of several recent analyst reports. Mizuho lowered their price objective on shares of Devon Energy from $46.00 to $43.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Williams Trading set a $50.00 target price on shares of Devon Energy in a report on Wednesday, March 5th. Scotiabank dropped their target price 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. Piper Sandler dropped their target price on shares of Devon Energy from $56.00 to $53.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. Finally, Morgan Stanley upped their target price on shares of Devon Energy from $42.00 to $44.00 and gave the company an "overweight" rating in a report on Friday, May 23rd. Ten equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat, Devon Energy presently has a consensus rating of "Moderate Buy" and an average price target of $43.71.

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.