8,909 Shares in Devon Energy Co. (NYSE:DVN) Acquired by Fiduciary Financial Group LLC

Fiduciary Financial Group LLC acquired a new stake in Devon Energy Co. (NYSE:DVN - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,909 shares of the energy company's stock, valued at approximately $333,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its position 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 worth $2,640,727,000 after acquiring an additional 5,465,692 shares during the last quarter. Geode Capital Management LLC increased its position in Devon Energy by 6.5% in 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 acquiring an additional 1,038,305 shares during the period. Fuller & Thaler Asset Management Inc. lifted its position 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 worth $340,236,000 after acquiring an additional 3,114,656 shares during the period. Victory Capital Management Inc. grew its stake in shares of Devon Energy by 2.3% in 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 purchasing an additional 232,469 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of Devon Energy by 32.8% during the fourth quarter. Invesco Ltd. now owns 9,461,719 shares of the energy company's stock worth $309,682,000 after purchasing an additional 2,335,473 shares during the last quarter. Institutional investors and hedge funds own 69.72% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on DVN shares. Royal Bank of Canada cut their price objective on shares of Devon Energy from $49.00 to $40.00 and set a "sector perform" rating for the company in a research report on Monday, April 14th. JPMorgan Chase & Co. reduced their price objective on shares of Devon Energy from $48.00 to $42.00 and set a "neutral" rating for the company in a research report on Thursday, March 13th. Susquehanna lowered their price objective on Devon Energy from $52.00 to $41.00 and set a "positive" rating on the stock in a report on Tuesday, April 22nd. 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 note on Monday, April 7th. Finally, The Goldman Sachs Group lifted their price target on Devon Energy from $38.00 to $43.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Ten investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $43.71.

Devon Energy Stock Performance

Shares of Devon Energy stock traded down $0.16 during trading hours on Thursday, hitting $34.31. 2,864,434 shares of the company's stock traded hands, compared to its average volume of 8,674,576. The company has a fifty day simple moving average of $31.10 and a 200-day simple moving average of $33.70. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01. Devon Energy Co. has a 12-month low of $25.89 and a 12-month high of $49.35. The stock has a market capitalization of $22.03 billion, a price-to-earnings ratio of 7.52, a PEG ratio of 1.20 and a beta of 1.02.

Devon Energy (NYSE:DVN - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The energy company reported $1.21 EPS for the quarter, missing analysts' consensus estimates of $1.27 by ($0.06). The company had revenue of $4.45 billion during the quarter, compared to the consensus estimate of $4.31 billion. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. The business's revenue was up 23.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.16 earnings per share. Equities research analysts anticipate that Devon Energy Co. will post 4.85 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The firm also recently declared 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. This represents a $0.96 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend is Friday, June 13th. Devon Energy's dividend payout ratio is presently 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.