Quantinno Capital Management LP Boosts Holdings in Devon Energy Co. (NYSE:DVN)

Quantinno Capital Management LP boosted its holdings in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 28.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 57,628 shares of the energy company's stock after buying an additional 12,671 shares during the quarter. Quantinno Capital Management LP's holdings in Devon Energy were worth $1,886,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Hurley Capital LLC acquired a new stake in shares of Devon Energy during the fourth quarter worth $26,000. Accredited Wealth Management LLC acquired a new position in Devon Energy during the fourth quarter valued at $28,000. Cromwell Holdings LLC lifted its position in Devon Energy by 98.0% during the fourth quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company's stock valued at $40,000 after purchasing an additional 598 shares during the period. Sierra Ocean LLC acquired a new position in Devon Energy during the fourth quarter valued at $43,000. Finally, Endeavor Private Wealth Inc. acquired a new position in Devon Energy during the fourth quarter valued at $52,000. 69.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on DVN shares. Royal Bank of Canada cut their price objective on shares of Devon Energy from $49.00 to $40.00 and set a "sector perform" rating for the company in a report on Monday, April 14th. Bank of America cut their price objective on shares of Devon Energy from $52.00 to $42.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. Benchmark reaffirmed a "buy" rating and issued a $44.00 price objective on shares of Devon Energy in a report on Thursday, February 20th. Mizuho cut their price objective on shares of Devon Energy from $46.00 to $43.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Finally, Wall Street Zen raised shares of Devon Energy from a "sell" rating to a "hold" rating in a research note on Thursday, May 15th. Ten research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Devon Energy currently has an average rating of "Moderate Buy" and a consensus target price of $43.71.

Devon Energy Trading Up 0.0%

Shares of DVN stock traded up $0.01 during trading hours on Friday, hitting $31.15. The company had a trading volume of 7,037,546 shares, compared to its average volume of 8,659,319. The company's fifty day moving average is $32.20 and its 200 day moving average is $34.29. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01. Devon Energy Co. has a fifty-two week low of $25.89 and a fifty-two week high of $49.35. The stock has a market capitalization of $20.00 billion, a PE ratio of 6.83, 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 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.06). Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. The company had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.31 billion. During the same quarter in the prior year, the company posted $1.16 earnings per share. The business's revenue was up 23.8% compared to the same quarter last year. Research analysts expect that Devon Energy Co. will post 4.85 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 3.08%. The ex-dividend date is Friday, June 13th. Devon Energy's payout ratio is currently 21.87%.

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.