Teacher Retirement System of Texas Has $18.46 Million Stock Holdings in Devon Energy Corporation (NYSE:DVN)

Teacher Retirement System of Texas lessened its holdings in shares of Devon Energy Corporation (NYSE:DVN - Free Report) by 46.6% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 493,454 shares of the energy company's stock after selling 431,182 shares during the period. Teacher Retirement System of Texas owned approximately 0.08% of Devon Energy worth $18,455,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Lodestone Wealth Management LLC boosted its holdings in Devon Energy by 50.2% in the 1st quarter. Lodestone Wealth Management LLC now owns 26,352 shares of the energy company's stock valued at $986,000 after purchasing an additional 8,806 shares during the period. WCM Investment Management LLC raised its holdings in Devon Energy by 7.9% in the 1st quarter. WCM Investment Management LLC now owns 48,535 shares of the energy company's stock valued at $1,784,000 after acquiring an additional 3,536 shares in the last quarter. Redmont Wealth Advisors LLC bought a new stake in shares of Devon Energy in the 1st quarter worth approximately $56,000. Summit Trail Advisors LLC lifted its position in shares of Devon Energy by 26.1% in the 1st quarter. Summit Trail Advisors LLC now owns 25,091 shares of the energy company's stock worth $938,000 after acquiring an additional 5,187 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Devon Energy by 2.7% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 123,967 shares of the energy company's stock worth $4,636,000 after purchasing an additional 3,226 shares in the last quarter. Institutional investors own 69.72% of the company's stock.

Devon Energy Trading Down 0.6%

DVN stock traded down $0.21 during midday trading on Friday, reaching $33.20. The stock had a trading volume of 2,849,156 shares, compared to its average volume of 8,849,039. The firm has a market cap of $21.32 billion, a price-to-earnings ratio of 7.56, a PEG ratio of 2.49 and a beta of 1.02. Devon Energy Corporation has a twelve month low of $25.89 and a twelve month high of $49.35. 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 business has a fifty day simple moving average of $32.40 and a two-hundred day simple moving average of $33.40.

Devon Energy (NYSE:DVN - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The energy company reported $1.21 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 quarter in the prior year, the firm earned $1.16 EPS. The firm's quarterly revenue was up 23.8% compared to the same quarter last year. As a group, research analysts expect 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 was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend was Friday, June 13th. Devon Energy's payout ratio is 21.87%.

Analyst Ratings Changes

DVN has been the subject of several research reports. Scotiabank reduced their target price on Devon Energy from $45.00 to $35.00 and set a "sector outperform" rating for the company in a research report on Friday, April 11th. Bank of America reduced their price objective on shares of Devon Energy from $52.00 to $42.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. Susquehanna decreased their target price on shares of Devon Energy from $52.00 to $41.00 and set a "positive" rating on the stock in a research report on Tuesday, April 22nd. UBS Group decreased their price objective on Devon Energy from $41.00 to $35.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. Finally, Morgan Stanley increased their target price on Devon Energy from $42.00 to $44.00 and gave the stock an "overweight" rating in a report on Friday, May 23rd. Ten analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Devon Energy presently has a consensus rating of "Moderate Buy" and a consensus price target 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.