PKO Investment Management Joint Stock Co Has $511,000 Stake in Devon Energy Corporation (NYSE:DVN)

PKO Investment Management Joint Stock Co decreased its position in Devon Energy Corporation (NYSE:DVN - Free Report) by 39.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,661 shares of the energy company's stock after selling 9,000 shares during the quarter. PKO Investment Management Joint Stock Co's holdings in Devon Energy were worth $511,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Resona Asset Management Co. Ltd. acquired a new position in Devon Energy in the 4th quarter worth about $5,967,000. Merit Financial Group LLC boosted its stake in Devon Energy by 209.5% during the 1st quarter. Merit Financial Group LLC now owns 22,679 shares of the energy company's stock valued at $848,000 after purchasing an additional 15,351 shares during the period. Aviva PLC lifted its position in shares of Devon Energy by 767.3% in the 4th quarter. Aviva PLC now owns 376,999 shares of the energy company's stock worth $12,339,000 after acquiring an additional 333,530 shares during the period. Ninepoint Partners LP lifted its position in shares of Devon Energy by 12.5% during the 4th quarter. Ninepoint Partners LP now owns 450,000 shares of the energy company's stock worth $14,728,000 after buying an additional 50,000 shares during the period. Finally, Amundi lifted its position in shares of Devon Energy by 2.3% during the 4th quarter. Amundi now owns 2,220,879 shares of the energy company's stock worth $78,064,000 after buying an additional 50,301 shares during the period. 69.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DVN has been the subject of several analyst reports. UBS Group cut their target price on Devon Energy from $41.00 to $35.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. The Goldman Sachs Group raised their price target on Devon Energy from $38.00 to $43.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Barclays raised 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. Royal Bank Of Canada dropped their price target on Devon Energy from $49.00 to $40.00 and set a "sector perform" rating for the company in a report on Monday, April 14th. Finally, Citigroup lowered their target price on Devon Energy from $46.00 to $43.00 and set a "buy" rating for the company in a research note on Friday, April 4th. Ten research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Devon Energy has an average rating of "Moderate Buy" and a consensus target price of $43.50.

Devon Energy Price Performance

NYSE:DVN traded up $0.21 during trading hours on Friday, reaching $34.25. 14,983,947 shares of the company were exchanged, compared to its average volume of 8,798,081. The business has a 50 day moving average of $31.91 and a 200 day moving average of $33.51. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.99. Devon Energy Corporation has a 1-year low of $25.89 and a 1-year high of $49.35. The company has a market capitalization of $21.99 billion, a P/E ratio of 7.80, a P/E/G ratio of 2.56 and a beta of 1.02.

Devon Energy (NYSE:DVN - Get Free Report) last released its earnings results on Tuesday, May 6th. The energy company reported $1.21 earnings per share 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 the consensus estimate of $4.31 billion. During the same quarter in the previous year, the company earned $1.16 earnings per share. The firm's revenue for the quarter was up 23.8% on a year-over-year basis. Research analysts forecast that Devon Energy Corporation will post 4.85 EPS for the current year.

Devon Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders 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 2.80%. The ex-dividend date is Friday, June 13th. Devon Energy's payout ratio is presently 21.87%.

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.