Natixis Advisors LLC Acquires 98,096 Shares of Devon Energy Corporation (NYSE:DVN)

Key Points

• Natixis Advisors LLC increased its stake in Devon Energy Corporation by 63.2%, totaling 253,298 shares worth approximately $9.47 million.
• Analysts have set new price targets for Devon Energy, with the average target now at $43.85 and a general rating of "Moderate Buy" from several investment analysts.
• Devon Energy reported $0.84 earnings per share for the last quarter, exceeding expectations, with an annual dividend yield of 3.0%.

Natixis Advisors LLC raised its stake in Devon Energy Corporation (NYSE:DVN - Free Report) by 63.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 253,298 shares of the energy company's stock after acquiring an additional 98,096 shares during the period. Natixis Advisors LLC's holdings in Devon Energy were worth $9,473,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of DVN. NorthRock Partners LLC boosted its position in shares of Devon Energy by 20.2% during the 1st quarter. NorthRock Partners LLC now owns 13,424 shares of the energy company's stock worth $502,000 after acquiring an additional 2,260 shares in the last quarter. Wellington Shields & Co. LLC boosted its holdings in shares of Devon Energy by 10.0% in the 1st quarter. Wellington Shields & Co. LLC now owns 23,908 shares of the energy company's stock valued at $894,000 after purchasing an additional 2,165 shares in the last quarter. Arkadios Wealth Advisors boosted its holdings in shares of Devon Energy by 59.0% in the 1st quarter. Arkadios Wealth Advisors now owns 83,248 shares of the energy company's stock valued at $3,113,000 after purchasing an additional 30,886 shares in the last quarter. Vestcor Inc increased its stake in shares of Devon Energy by 7.6% in the 1st quarter. Vestcor Inc now owns 14,053 shares of the energy company's stock valued at $526,000 after purchasing an additional 987 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of Devon Energy during the 1st quarter worth $515,000. 69.72% of the stock is currently owned by institutional investors.

Devon Energy Trading Down 0.4%

NYSE DVN traded down $0.12 during trading hours on Thursday, hitting $32.34. 10,929,543 shares of the company's stock were exchanged, compared to its average volume of 9,131,267. The firm has a market cap of $20.76 billion, a price-to-earnings ratio of 7.25, a PEG ratio of 1.83 and a beta of 1.07. The stock has a 50-day simple moving average of $32.99 and a 200 day simple moving average of $33.30. The company has a current ratio of 1.08, a quick ratio of 0.99 and a debt-to-equity ratio of 0.57. Devon Energy Corporation has a 1-year low of $25.89 and a 1-year 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, topping the consensus estimate of $0.83 by $0.01. Devon Energy had a net margin of 16.57% and a return on equity of 18.80%. The company had revenue of $4.28 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter last year, the firm posted $1.41 EPS. The company's quarterly revenue was up 9.4% on a year-over-year basis. On average, equities analysts forecast that Devon Energy Corporation will post 4.85 EPS for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Monday, September 15th. Devon Energy's dividend payout ratio is currently 21.52%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Mizuho reduced their price objective on Devon Energy from $46.00 to $43.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Scotiabank restated an "outperform" rating on shares of Devon Energy in a research note on Friday, July 11th. Royal Bank Of Canada lowered 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 research report on Monday, April 14th. BMO Capital Markets raised their target price on shares of Devon Energy from $48.00 to $51.00 and gave the company an "outperform" rating in a research report on Monday, July 14th. Finally, The Goldman Sachs Group boosted their target price on shares of Devon Energy from $38.00 to $43.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Eleven analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $43.93.

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.