Devon Energy Corporation (NYSE:DVN) Shares Sold by PKO Investment Management Joint Stock Co

PKO Investment Management Joint Stock Co decreased its holdings in shares of 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 fund 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 quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DVN. Covestor Ltd lifted its position in Devon Energy by 15.9% in the fourth quarter. Covestor Ltd now owns 2,521 shares of the energy company's stock valued at $83,000 after buying an additional 345 shares during the last quarter. Horizon Investments LLC boosted its position in shares of Devon Energy by 4.1% during the 4th quarter. Horizon Investments LLC now owns 8,843 shares of the energy company's stock worth $289,000 after purchasing an additional 347 shares during the period. Tocqueville Asset Management L.P. increased its holdings in Devon Energy by 3.0% in the 4th quarter. Tocqueville Asset Management L.P. now owns 12,242 shares of the energy company's stock valued at $401,000 after purchasing an additional 359 shares during the last quarter. Salem Investment Counselors Inc. raised its position in Devon Energy by 46.7% in the first quarter. Salem Investment Counselors Inc. now owns 1,257 shares of the energy company's stock valued at $47,000 after purchasing an additional 400 shares during the period. Finally, Parkside Financial Bank & Trust lifted its stake in Devon Energy by 14.8% during the fourth quarter. Parkside Financial Bank & Trust now owns 3,130 shares of the energy company's stock worth $102,000 after purchasing an additional 404 shares in the last quarter. Hedge funds and other institutional investors own 69.72% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on DVN. The Goldman Sachs Group boosted their price objective 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 objective on shares of Devon Energy from $38.00 to $40.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 7th. Cowen lowered shares of Devon Energy to a "hold" rating and reduced their target price for the stock from $46.00 to $45.00 in a report on Tuesday, February 18th. Royal Bank Of Canada dropped their price target on shares of Devon Energy from $49.00 to $40.00 and set a "sector perform" rating for the company in a research note on Monday, April 14th. Finally, UBS Group reduced their price objective on Devon Energy from $41.00 to $35.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Ten analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Devon Energy has a consensus rating of "Moderate Buy" and an average target price of $43.50.

Devon Energy Stock Up 0.3%

Shares of NYSE:DVN opened at $34.72 on Wednesday. The firm has a 50 day simple moving average of $31.61 and a 200-day simple moving average of $33.58. Devon Energy Corporation has a twelve month low of $25.89 and a twelve month high of $49.35. The company has a current ratio of 1.08, a quick ratio of 0.99 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $22.29 billion, a PE ratio of 7.91, a P/E/G ratio of 2.58 and a beta of 1.02.

Devon Energy (NYSE:DVN - Get Free Report) last released its quarterly earnings data 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 net margin of 16.60% and a return on equity of 21.90%. The company had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.31 billion. During the same quarter in the prior year, the company earned $1.16 EPS. The business's revenue was up 23.8% on a year-over-year basis. On average, equities analysts predict that Devon Energy Corporation will post 4.85 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.76%. The ex-dividend date is Friday, June 13th. Devon Energy's dividend payout ratio (DPR) is 21.87%.

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.

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