Devon Energy Corporation $DVN Stock Position Trimmed by Fuller & Thaler Asset Management Inc.

Key Points

• Fuller & Thaler Asset Management Inc. reduced its stake in Devon Energy Corporation by 26.9% in Q1, now holding about 1.1% of its portfolio worth approximately $284 million.
• Devon Energy announced a dividend of $0.24 per share, with a yield of 2.8%, set for disbursement on September 30th.
• Analysts have increased price targets for Devon Energy, ranging from $37.00 to $49.00, with an average target of $44.04 indicating a general positive outlook.

Fuller & Thaler Asset Management Inc. lowered its position in shares of Devon Energy Corporation (NYSE:DVN - Free Report) by 26.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,602,820 shares of the energy company's stock after selling 2,792,405 shares during the period. Devon Energy comprises about 1.1% of Fuller & Thaler Asset Management Inc.'s portfolio, making the stock its 10th biggest position. Fuller & Thaler Asset Management Inc. owned about 1.18% of Devon Energy worth $284,345,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its position in Devon Energy by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 82,780,738 shares of the energy company's stock worth $3,096,000,000 after acquiring an additional 2,098,568 shares during the last quarter. Victory Capital Management Inc. grew its position in Devon Energy by 12.9% during the 1st quarter. Victory Capital Management Inc. now owns 11,518,862 shares of the energy company's stock worth $430,805,000 after acquiring an additional 1,315,050 shares during the last quarter. Northern Trust Corp grew its position in shares of Devon Energy by 5.1% in the 1st quarter. Northern Trust Corp now owns 6,577,195 shares of the energy company's stock valued at $245,987,000 after buying an additional 316,460 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Devon Energy by 8.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,706,837 shares of the energy company's stock valued at $176,036,000 after buying an additional 354,633 shares during the last quarter. Finally, Deutsche Bank AG grew its position in shares of Devon Energy by 3.0% in the 4th quarter. Deutsche Bank AG now owns 3,492,902 shares of the energy company's stock valued at $114,323,000 after buying an additional 102,725 shares during the last quarter. Institutional investors own 69.72% of the company's stock.

Devon Energy Trading Up 3.6%

Shares of NYSE:DVN traded up $1.2350 during midday trading on Friday, reaching $35.1250. The company's stock had a trading volume of 8,408,473 shares, compared to its average volume of 7,446,868. The firm has a market capitalization of $22.30 billion, a price-to-earnings ratio of 7.88, a PEG ratio of 1.93 and a beta of 1.07. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.22. The firm has a 50 day moving average price of $33.25 and a two-hundred day moving average price of $33.14. Devon Energy Corporation has a fifty-two week low of $25.89 and a fifty-two week high of $46.04.

Devon Energy (NYSE:DVN - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The energy company reported $0.84 EPS for the quarter, beating analysts' consensus estimates of $0.83 by $0.01. Devon Energy had a return on equity of 18.59% and a net margin of 16.57%.The firm had revenue of $4.28 billion during the quarter, compared to analysts' expectations of $4.01 billion. During the same quarter last year, the firm posted $1.41 earnings per share. The company's revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, analysts forecast that Devon Energy Corporation will post 4.85 earnings per share for the current year.

Devon Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.96 annualized dividend and a dividend yield of 2.7%. Devon Energy's payout ratio is presently 21.52%.

Insider Activity

In other Devon Energy news, Director Kelt Kindick sold 7,685 shares of the business's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $33.46, for a total value of $257,140.10. Following the transaction, the director owned 31,801 shares of the company's stock, valued at approximately $1,064,061.46. The trade was a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.71% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

DVN has been the topic of a number of analyst reports. Bank of America reduced their price target on Devon Energy from $52.00 to $42.00 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. Bernstein Bank reduced their price target on Devon Energy from $45.00 to $43.00 and set an "outperform" rating on the stock in a research report on Monday, July 7th. Tudor, Pickering, Holt & Co. upped their price target on Devon Energy from $42.00 to $44.00 in a research report on Thursday, July 3rd. Barclays upped their price target on Devon Energy from $40.00 to $42.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. Finally, Piper Sandler reduced their price target on Devon Energy from $58.00 to $57.00 and set an "overweight" rating on the stock in a research report on Thursday, August 14th. Fifteen research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $44.15.

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.