Devon Energy Corporation (NYSE:DVN) Shares Purchased by QRG Capital Management Inc.

QRG Capital Management Inc. grew its stake in shares of Devon Energy Corporation (NYSE:DVN - Free Report) by 54.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 142,626 shares of the energy company's stock after acquiring an additional 50,528 shares during the quarter. QRG Capital Management Inc.'s holdings in Devon Energy were worth $5,334,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Devon Energy by 7.3% during 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 acquiring an additional 5,465,692 shares in the last quarter. Geode Capital Management LLC raised its position in 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 worth $552,830,000 after buying an additional 1,038,305 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its stake in Devon Energy by 42.8% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 10,395,225 shares of the energy company's stock valued at $340,236,000 after acquiring an additional 3,114,656 shares during the period. Victory Capital Management Inc. lifted its stake in Devon Energy by 2.3% during the 4th quarter. Victory Capital Management Inc. now owns 10,203,812 shares of the energy company's stock valued at $333,971,000 after acquiring an additional 232,469 shares during the period. Finally, Invesco Ltd. lifted its stake in Devon Energy by 32.8% during the 4th quarter. Invesco Ltd. now owns 9,461,719 shares of the energy company's stock valued at $309,682,000 after acquiring an additional 2,335,473 shares during the period. Institutional investors and hedge funds own 69.72% of the company's stock.

Devon Energy Trading Up 0.3%

Shares of NYSE:DVN opened at $34.72 on Wednesday. The business's 50 day moving average price is $31.61 and its 200-day moving average price is $33.58. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.99. The firm has a market capitalization of $22.29 billion, a price-to-earnings ratio of 7.91, a price-to-earnings-growth ratio of 2.58 and a beta of 1.02. Devon Energy Corporation has a 1 year low of $25.89 and a 1 year high of $49.35.

Devon Energy (NYSE:DVN - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The energy company reported $1.21 earnings per share for the quarter, missing analysts' consensus estimates of $1.27 by ($0.06). The firm had revenue of $4.45 billion during the quarter, compared to analysts' expectations of $4.31 billion. Devon Energy had a net margin of 16.60% and a return on equity of 21.90%. The company's revenue for the quarter was up 23.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.16 EPS. On average, equities research analysts forecast that Devon Energy Corporation will post 4.85 earnings per share 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 issued a $0.24 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.96 dividend on an annualized basis and a yield of 2.76%. Devon Energy's payout ratio is currently 21.87%.

Analyst Ratings Changes

Several analysts have commented on the stock. Susquehanna decreased their price objective on shares of Devon Energy from $52.00 to $41.00 and set a "positive" rating for the company in a research note on Tuesday, April 22nd. Citigroup decreased their price objective on shares of Devon Energy from $46.00 to $43.00 and set a "buy" rating for the company in a research note on Friday, April 4th. Mizuho decreased their price objective on shares of Devon Energy from $46.00 to $43.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Williams Trading set a $50.00 price objective on shares of Devon Energy in a research note on Wednesday, March 5th. Finally, Royal Bank Of Canada dropped their price objective on shares of 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. Ten research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Devon Energy currently has an average rating of "Moderate Buy" and a consensus target price of $43.50.

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.

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