Fortem Financial Group LLC Has $953,000 Stock Position in Devon Energy Corporation (NYSE:DVN)

Fortem Financial Group LLC grew its position in Devon Energy Corporation (NYSE:DVN - Free Report) by 45.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,477 shares of the energy company's stock after buying an additional 7,901 shares during the quarter. Fortem Financial Group LLC's holdings in Devon Energy were worth $953,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in DVN. Vanguard Group Inc. raised its stake in Devon Energy by 7.3% in the fourth quarter. Vanguard Group Inc. now owns 80,682,170 shares of the energy company's stock valued at $2,640,727,000 after purchasing an additional 5,465,692 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Devon Energy by 6.5% during the 4th quarter. Geode Capital Management LLC now owns 16,931,275 shares of the energy company's stock valued at $552,830,000 after buying an additional 1,038,305 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its stake in Devon Energy by 42.8% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 10,395,225 shares of the energy company's stock worth $340,236,000 after purchasing an additional 3,114,656 shares in the last quarter. Invesco Ltd. raised its position in Devon Energy by 32.8% in the 4th quarter. Invesco Ltd. now owns 9,461,719 shares of the energy company's stock worth $309,682,000 after buying an additional 2,335,473 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Devon Energy by 2.4% during the 4th quarter. Northern Trust Corp now owns 6,260,735 shares of the energy company's stock valued at $204,914,000 after purchasing an additional 144,789 shares during the last quarter. 69.72% of the stock is owned by institutional investors.

Devon Energy Trading Down 2.9%

DVN traded down $0.96 during trading hours on Tuesday, reaching $32.24. 6,949,334 shares of the company's stock traded hands, compared to its average volume of 8,875,052. The company has a quick ratio of 0.99, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $20.70 billion, a PE ratio of 7.34, a PEG ratio of 2.53 and a beta of 1.02. Devon Energy Corporation has a 52-week low of $25.89 and a 52-week high of $49.35. The firm has a 50-day moving average price of $32.69 and a 200 day moving average price of $33.54.

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 (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.06). Devon Energy had a return on equity of 21.90% and a net margin of 16.60%. The business had revenue of $4.45 billion for the quarter, compared to analyst estimates of $4.31 billion. During the same period last year, the business earned $1.16 EPS. Devon Energy's revenue was up 23.8% compared to the same quarter last year. As a group, sell-side analysts predict that Devon Energy Corporation will post 4.85 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were given a dividend of $0.24 per share. The ex-dividend date was Friday, June 13th. This represents a $0.96 dividend on an annualized basis and a yield of 2.98%. Devon Energy's dividend payout ratio is currently 21.87%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Barclays boosted their price target on Devon Energy from $38.00 to $40.00 and gave the company an "equal weight" rating in a report on Wednesday, May 7th. The Goldman Sachs Group increased their target price on Devon Energy from $38.00 to $43.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Wall Street Zen raised Devon Energy from a "sell" rating to a "hold" rating in a research report on Thursday, May 15th. JPMorgan Chase & Co. increased their price objective on Devon Energy from $40.00 to $42.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. Finally, Royal Bank Of Canada dropped their price target on Devon Energy from $49.00 to $40.00 and set a "sector perform" rating on the stock in a research note on Monday, April 14th. Eleven research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $43.48.

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.